Mass General Brigham AI RCM spinoff lands $40M

CodaMetrix, a spinoff of Somerville, Mass.-based Mass General Brigham that uses artificial intelligence for health system revenue cycle management, closed a $40 million Series B funding round. 

The funding will be used to further advance CodaMetrix AI-powered services, which improve medical coding quality, produce clinically comprehensive data sets, reduce overall cost of care and alleviate administrative burden on providers, according to a March 12 CodaMetrix news release. 

Digital healthcare investor Transformation Capital led the funding round, according to the release. Todd Cozzens, Transformation's co-founder and managing partner, will join CodaMetrix's board of directors. 

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