Arrow Launches in Healthcare Tech Sector: Key Points
- Company Launch:
- Arrow, a US-based healthcare technology firm, has launched with the ambitious goal of becoming the “most important company in US history,” according to CEO Roshan Patel.
- Background:
- Previously known as Walnut, Arrow was founded in 2020 and is headquartered in New York.
- Technology and Services:
- Arrow offers tools for the healthcare sector that enable fast and accurate payments for providers and payers.
- Features include advanced error detection, predictive analytics, denial management, and comprehensive visibility into revenue cycles.
- The goal is to streamline claim processes, boost claim accuracy, and drive smarter decision-making and operational efficiency.
- Vision:
- CEO Roshan Patel envisions real-time, frictionless payments in healthcare.
- This includes transparency in care costs for patients, real-time payments for providers without manual administrative work, and increased efficiency with reduced fraud for health plans.
- Funding:
- Arrow secured $110 million in a Series A funding round led by Gradient Ventures in May 2022.
- The round includes $100 million in debt financing and $10 million in equity financing.
- Additional investors include Company Ventures, Banana Capital, Muse Capital, Newark Ventures, Afore Capital, CityRock Ventures, AngelList, Weekend Fund, Goodwater Capital, and 2048 Ventures.
