Nym Raises $47 Million in Funding
Nym, a New York-based company specializing in autonomous medical coding solutions for the healthcare industry, has raised a $47 million growth investment.
The round was led by PSG, with participation from existing and new investors, including Google Ventures, Addition, Samsung Next, and Dynamic Loop Capital.
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Founded in 2014, PSG has offices in Boston, Kansas City, London, Madrid, Paris, and Tel Aviv. Backed over 140 companies, and facilitated over 500 add-on acquisitions.
The company plans to use the funds to accelerate the expansion of its multi-specialty solution to support new care areas.
Nym was founded in 2018 by Amihai Neiderman and Adam Rimon and provides an autonomous medical coding engine. The engine utilizes artificial intelligence (AI) and clinical language understanding (CLU) technology to analyze patient charts and quickly assign medical codes. Nym's mission is to help simplify the U.S. healthcare system and reduce the country’s outsized administrative burden, allowing healthcare providers to focus on patient treatment and reduce the growing cost of care. The company serves a variety of clients, including health systems, hospitals, and physician groups across the U.S. Based in New York City with R&D capabilities in Tel Aviv, Nym has processed over six million charts annually as of September 2024.
Funding Details
Company: Nym Health Ltd.
Raised: $47.0M
Round: Unknown
Funding Date: October 2024
Lead Investor: PSG
Additional Investors: Google Ventures, Addition, Samsung Next, Dynamic Loop Capital
Company Website: https://nym.health/
Software Category: Medical Coding