Healthcare automation startup Coral has raised $12.5 million in funding from Z47 and Lightspeed, as it looks to scale its presence in the US healthcare administrative market.
The company plans to use the capital to expand its engineering team and bring in domain experts across healthcare operations, supporting the next phase of product and market growth.
Founded by Ajay Shrihari and Aniket Mohanty, both IIT Hyderabad alumni and former founding engineers at LimeChat, Coral focuses on automating back-office workflows that are still heavily dependent on manual coordination and fax-based processes.
Its platform integrates directly with existing Electronic Health Records (EHRs) and payer portals, enabling processes such as patient intake, prior authorizations, and insurance verification without requiring providers to change their current systems.
The company initially focused on the durable medical equipment segment and has since expanded into infusion centers and specialty pharmacies. Its technology processes documents such as handwritten faxes and insurance cards with a reported accuracy of 99.7%, reducing intake times to under five minutes.
Product development is currently centered on building an AI workflow builder that allows providers to create custom automations, along with a co-pilot layer designed to analyze operational data, including claim denial rates and referral patterns.
“Every person in the healthcare system is being slowed down by the same thing: administrative work that was never built to scale. The coordinator chasing faxes. The patient waiting on a referral. The clinician buried in prior authorizations. When you automate the right things, all of them win at once. That is what Coral is building, and we are just getting started,” said Ajay Shrihari, Founder and CEO of Coral.
The company’s early focus on durable medical equipment providers helped validate its model in one of the most fax-intensive areas of outpatient care. As it expanded into additional specialties, it identified a consistent pattern, highlighting that administrative inefficiencies extend across the broader healthcare system.
The investment adds to Z47’s portfolio of AI-driven enterprise companies, including Rocketlane and Krutrim, reflecting continued interest in automation solutions that address large-scale operational challenges in healthcare.
