PayZen Secures $232M in Series B as NEA Invests to Transform Health Care Payments with AI

San Francisco-based healthcare fintech startup PayZen has successfully raised $232 million in a Series B funding round to further its mission of transforming health care affordability with AI-driven solutions. The funding round was led by NEA, with significant contributions from existing investors including 7wireVentures, SignalFire, and Viola Ventures.

Founded to eliminate financial barriers to medical care, PayZen has developed an innovative AI-powered platform that creates personalized payment plans for patients while simultaneously improving financial outcomes for health care providers. The platform's proprietary AI and machine learning models are seamlessly integrated into electronic medical records systems, streamlining the patient payment process and enhancing collections for health care systems.

The $232 million raised includes $32 million in equity and a $200 million credit warehouse, the latter backed by Viola Credit and several insurance companies. This substantial injection of capital will enable PayZen to expand its affordable, customizable health care payment options to a broader segment of the American population. Additionally, the funds will support the introduction of new AI-driven solutions designed to address patient affordability challenges.

“This latest round is the next step in our journey to remove financial barriers to care for patients,” said Itzik Cohen, PayZen’s co-founder and CEO. “We are honored to have found partners in both our investors and our health systems network that share the same vision for the future.”