Keebler Health Raises $16 Mn to Advance AI-Driven Risk Adjustment Platform

The funding will be used to accelerate product development, scale deployment, and strengthen the company’s presence in the growing value-based care ecosystem.

South Carolina-based AI healthtech startup Keebler Health has raised $16 million in Series A funding to expand its AI-powered risk adjustment platform, aimed at improving healthcare payment accuracy and operational efficiency for providers and payers.

The funding was led by Flare Capital Partners with participation from Sands Capital, Tau Ventures, and existing investors, including Freestyle Capital, Underdog Labs, and MBX Capital. Additional investors in the round include Everywhere Ventures, New Stack Ventures, Tweener Fund, Aviano Ventures, and Hustle Fund.

The funding will be used to accelerate product development, scale deployment, and strengthen the company’s presence in the growing value-based care ecosystem.

It will also support the company’s expansion into adjacent use cases, including compliance and audit workflows, such as AI-enabled RADV audit readiness.

Keebler Health’s platform is built as an LLM-native risk-adjustment solution, designed to process unstructured clinical documentation.

The platform is designed to enable healthcare providers to access patient data and act on it that has historically been out of reach.

By analyzing the patient narrative directly, rather than relying on retrofitted NLP approaches, the platform enables more accurate and complete HCC coding opportunities across both retrospective and concurrent workflows.

Further, the system also provides clinicians with actionable insights at the point of care, supporting more appropriate revenue capture and improving patient outcomes without disrupting existing operations.

Founded in 2023 by Isaac Park, Andrew Stickney, and Kevin Hill, PhD, alongside founding Chief Medical Officer Terrell Bacchus, MD, the startup has raised $23 million to date following its latest funding round.

Commenting on the new development, Isaac Park, CEO and co-founder of Keebler Health, said, "At its core, capturing the patient’s medical story with complete accuracy comes from information that lives in the provider notes, where care is documented. We built Keebler to bring that medical story forward so decisions about risk and reimbursement reflect the holistic view of each patient's health. Unlocking unstructured data is the consequential near-term opportunity in healthcare, and we intend to lead it."Keebler Health has raised $16 million in Series A funding to scale its AI-powered risk adjustment platform and expand its presence in the value-based care ecosystem. The funding will support product development, wider deployment, and entry into adjacent areas such as compliance and audit workflows.

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