Funding · Healthcare & Life Sciences

Coral raises $12.5M for healthcare automation

By Startup Enthusiast · 20 April 2026

What they do

Coral automates US healthcare administrative tasks like patient intake and prior authorizations

The startup raised $12.5 million from Z47 and Lightspeed to scale its engineering and domain teams

Its platform claims 99.7% accuracy on handwritten faxes, cutting intake time under five minutes

Coral raised $12.5 million in a funding round led by Z47 with participation from Lightspeed.
Coral builds healthcare automation software for the US administrative market.
The platform integrates with EHRs (electronic health records) and payer portals.
It handles patient intake, prior authorizations, and insurance verification.
The company started with durable medical equipment and expanded to infusion centers and specialty pharmacies.
Coral claims 99.7% accuracy on handwritten faxes and insurance cards.
The funds will be used to scale the engineering team and hire healthcare domain experts.

Coral topped the weekly funding list among 14 Indian startups that raised over $47 million in the week of April 20-25, 2026.
The previous week saw over $139 million raised, with Polaris Smart Metering alone getting $80 million.
Z47, formerly Matrix Partners India, has a portfolio including AI enterprise firms like Rocketlane and Krutrim.

Coral provides healthcare automation for US administrative tasks.
Its platform integrates with EHRs and payer portals.
It automates patient intake, prior authorizations, and insurance verification.
The company initially focused on durable medical equipment.
It has expanded to infusion centers and specialty pharmacies.
Coral reports 99.7% accuracy on handwritten faxes and insurance cards.
It reduces intake time to under five minutes.
The company plans to develop an AI workflow builder and a co-pilot layer for operational data analysis.

Scale the engineering team.
Hire healthcare domain experts.
Develop an AI workflow builder and co-pilot layer for operational data analysis.

Z47 (lead) — Formerly Matrix Partners India; portfolio includes AI enterprise firms like Rocketlane and Krutrim.
Lightspeed (participated)

Product: Platform automating healthcare back-office workflows including patient intake, prior authorizations and insurance verification
Customers: US healthcare providers including durable medical equipment companies, infusion centers and specialty pharmacies
How it makes money: SaaS platform integrating with existing EHRs and payer portals for workflow automation
What sets it apart: Automates document processing with 99.7% accuracy and reduces complex intake times to under 5 minutes