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AppliedAI, an Abu Dhabi-based startup, has successfully raised $55 million in a Series A funding round, marking one of the largest in the Middle East. The funding was led by G42, with participation from notable investors including Palantir and Bessemer Venture Partners. This investment values the company at $300 million and aims to enhance its AI-driven solutions for automating healthcare claims and billing processes.
Founded in London in 2021 and relocated to Abu Dhabi, AppliedAI focuses on automating complex workflows in highly regulated sectors like healthcare and insurance. The startup has already processed over 4 million pages of medical records, showcasing its capability to improve efficiency and accuracy in administrative tasks. The new capital will be used to further develop AI tools and expand operations in the U.S. and Europe.
• AppliedAI raised $55 million, one of the largest Series A rounds in the region.
• The startup automates healthcare claims processing using AI and human reviewers.
Automation in this context refers to the use of AI to streamline back-office tasks, enhancing efficiency.
AI-driven solutions are technologies that leverage artificial intelligence to improve processes, particularly in healthcare.
Human in the loop refers to the integration of human oversight in AI processes to ensure accuracy and reliability.
AppliedAI specializes in automating claims and billing processes in healthcare using AI technology.
G42 is an AI lab in the UAE that led the funding round for AppliedAI, focusing on advanced AI projects.
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