CodaMetrix is a Boston-based healthcare AI company founded in 2019, built in partnership with Mass General Brigham, that provides an AI platform for autonomous multi-specialty medical coding, a roughly $20 billion annual market. Its technology automates coding across specialties including radiology, pathology, GI, surgery and evaluation and management, and integrates with EHRs with real-time audit capabilities. The platform is used at more than a dozen provider organizations representing over 200 hospitals and 50,000 providers, and the company reports average reductions of 60% in coding costs and 70% in claims denials. CodaMetrix is led by president and CEO Hamid Tabatabaie.
Funding
CodaMetrix raised a $55 million Series A led by SignalFire in February 2023, followed by a $40 million Series B led by Transformation Capital in March 2024 with participation from existing investors SignalFire and Frist Cressey Ventures.