Capitol, a company that uses artificial intelligence to help health insurance companies make decisions, raised $10 million in a seed funding round.
The company aims to eliminate the need for data scientists to help make decisions for insurance companies. The proceeds from the seed fundraising round will be used to advance the platform, transition out of stealth and further the platform's adoption in healthcare, according to a Nov. 21 Capitol news release.
The funding round was led by 468 Capital.
"Most healthcare analytic tools are not built for business users, which means insight generation is painstakingly slow and built on clunky legacy products," Capitol CEO Shaun Modi said. "We solve that by letting our platform do the work and letting AI find the insights. We create a visual story for our users that provides them with a guided analytics experience without being a data or design expert."