From stealth to well being: These two Israeli startups land Sequence A by fixing AI from totally different angles

From stealth to health: These two Israeli startups land Series A by solving AI from different angles

Israeli startup BlackSwan Applied sciences emerges from stealth with $28 million in Sequence A funding. The funding was led by Prytek, FinTLV and MS&AD Ventures. The Tel Aviv primarily based startup supplies enterprises with an AI-powered working system (OS) platform, which empowers organizational choice making with deep data-backed perception. Moreover, the corporate introduced a partnership with ‘Large 4’ accounting agency Deloitte to offer main international banks with its AI OS Platform-as-a-Service to extend income and optimize operations. The corporate was based in 2014 by Michael Ouliel, and has already confirmed market success in bringing thousands and thousands of {dollars} in income, in accordance with the corporate.

“We imagine this represents a real paradigm shift in enterprise software program, eliminating all limitations to digital transformation in order that enterprises can simply harness massive information and synthetic intelligence to generate rapid and actionable enterprise insights,” mentioned BlackSwan’s founder and CEO Michael Ouliel. “Our purpose is to utterly disrupt the enterprise software program market by lastly making the world’s most superior synthetic intelligence obtainable to any firm.”

Ouliel conceptualized the concept for BlackSwan Applied sciences whereas reflecting on his years as an Israeli intelligence officer and guide for Oracle. With ELEMENT, the corporate’s flagship product,  he designed a platform that allows firms to harness and arrange information, reveal non-obvious relationships, determine unseen dangers, reveal ignored alternatives, and predict the longer term by harnessing the total potential of information to detect far-reaching dangers and alternatives.

In contrast to different enterprise AI choices, ELEMENT doesn’t require well-organized information units, numerous hours of information normalization, or technical in-house experience to implement. ELEMENT’s Low code/No code, cloud-agnostic system contains a number of superior enterprise functions together with Threat Administration, Compliance, Lead Technology, Personalization and Market Intelligence. The platform additionally permits customers to construct enterprise functions as much as 60 instances sooner and at a fraction of the price of market alternate options. ELEMENT is designed to repeatedly study and evolve with the enterprise and has a very customizable construction with a easy, drag-and-drop interface, democratizing the event and execution of enormous, industrial enterprise functions.

Google leads funding in Israeli startup Nym Well being

Israeli startup Nym Well being, developer of medical code automation system, introduced a $16.5 million Sequence A funding spherical. The funding was led by Google’s VC arm GV, with partici[ation from Bessemer Venture Partners, Dynamic Loop Capital, Lightspeed, Tiger Global, and Angel investors.  The funding will support the company’s ability to accelerate sales and marketing activities while scaling product deployment and development. Nym was founded in 2018 by Amihai Neiderman and Adam Rimon, who are both graduates of Israel’s famed 8200 Intelligence Unit.

“The process of translating medical notes into billing codes is a cumbersome and manual process, and a top pain point for many health systems in the U.S.,” said Ben Robbins, Venture Partner at GV. “Nym offers a highly efficient solution to this problem, and we believe the company is well-positioned to meet the needs of health systems.”

Nym takes an innovative approach to medical coding, accelerating the billing process by automatically assigning the most accurate medical codes required for medical reimbursement. Medical coding is traditionally a manual process, performed today by more than 250,000 medical coders. Coders manually review each patient chart and assign the applicable medical codes required for billing. In recent years medical coding became even more problematic, with the addition of tens of thousands of codes and guidelines making it extremely challenging to code correctly. Coding related denials lead to over $15B in lost revenues to U.S. healthcare providers annually.

Nym transforms revenue cycle management with direct-to-billing, fully autonomous medical coding that reduces insurance denials and operational expenses, accelerates payment-cycles, and maximizes audit-readiness for healthcare providers. Nym combines computational linguistics with Medical and Clinical Knowledge to create Clinical Intelligence –– which provides healthcare systems with a solution to succeed dependence on clinical coders with intelligent and reliable automation that also helps solve the AI ‘Black Box’ issue.

Nym’s biggest differentiator is that for every chart that is coded, our engine provides a full and transparent audit trail. This audit trail provides the full explanation of how each code is assigned and explains the automated decision-making process behind its selection. This allows our clients to understand and trust our coding results,” says Amihai Neiderman, Nym’s CEO.

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