Coral, a healthcare automation startup targeting the US administrative market, has raised $12.5 million in funding from Z47 (formerly Matrix Partners India) and Lightspeed, announced in April 2026.
The company was founded by IIT Hyderabad alumni Ajay Shrihari and Aniket Mohanty, both previously founding engineers at LimeChat. Coral automates back-office healthcare workflows that typically depend on manual coordination and fax machines, integrating directly with existing Electronic Health Records (EHRs) and payer portals to handle patient intake, prior authorizations, and insurance verification — without requiring providers to replace their current software.
Coral initially launched in the durable medical equipment sector before expanding into infusion centers and specialty pharmacies. Its document processing technology handles handwritten faxes and insurance cards with a reported 99.7% accuracy, reducing complex intake times to under five minutes.
The company plans to use the funding to scale its engineering team and hire domain experts in healthcare operations. Current development priorities include an AI workflow builder that allows providers to design custom automations, and a co-pilot layer to analyze operational data such as claim denial rates and referral patterns.
The raise adds Coral to Z47’s portfolio of AI-driven enterprise companies, which also includes Rocketlane and Krutrim. For healthcare providers, Coral’s approach — automating high-friction administrative tasks without disrupting existing systems — could suggest a path toward reducing operational bottlenecks in a sector still heavily reliant on legacy processes.
Source: Entrackr : Latest Posts