Collectly

Collected is a company founded in 2016 that develops technology for automating medical billing using machine learning. According to the developers, their tool simplifies the process of billing for medical services, increases the level of collection of payments and improves the quality of patient care. The founders of Collected are immigrants from Russia Levon Brutyan (CEO of the company by September 2021) and Maxim Mizotin (technical director).

History

2021: Raising $3 million

In mid-September 2021, it became known about the investment of $3 million in Collected. The main investor in the round of financing was the venture fund TMT Investments. In addition, the Cabra VC fund, the company's investor from the 2017 Y Combinator issue and the S16 and Starta Capital venture funds participated in the transaction.

The funds raised startup intend to spend on scaling up the business, including integration with 30 new medical ERP systems and signing contracts with large hospitals and medical groups. Collectly also actively attracts personnel, primarily engineers from. Russia

The Russian-founded developer of medical billing software Collectly raised $3 million in investments

By September 2021, Collected serves more than 300 clinics and processes 150,000 payments per day.

The project solves an important problem for the medical industry, replacing the long-outdated payment mechanism with new technologies. An excellent team and an innovative product will help Collectly develop dynamically in the US market, "said co-founder and managing partner of TMT Investments Artem Inyutin.

It is noted that clinics incur extra costs due to poorly built payment processes, so the cost of medicine in the United States is $3.33 trillion - this is 18% of the GDP of the whole country. The startup plans to improve the situation and reduce medical costs.