Seattle's Goodbill Raises $3.4M
Seattle-based startup Goodbill has raised $3.4 million to expand its system for automating and clarifying medical bills. The company aims to address the confusing and often hostile user experience of healthcare billing. The funding will be used to scale its platform.
- The company was founded by Patrick Haig (CEO) and Ian Sefferman (CTO), who previously co-founded and sold MobileDevHQ, a mobile app marketing startup, to Seattle-based Tune in 2014. - This latest round brings Goodbill's total funding to $5.4 million, following an initial $2 million seed round. The investor list includes Founders' Co-op, Maveron, and Liquid 2 Ventures, as well as angel investors like the CEO of Glassdoor and the former COO of Nerdwallet. - Goodbill's platform uses AI to analyze medical bills and patient records to find coding errors and overcharges, which are then verified by human reviewers. The system integrates with major electronic health record (EHR) vendors like Epic and Cerner. - The company initially focused on a direct-to-consumer model, taking a percentage of the savings it negotiated for individual patients. On average, they save customers between 20-60% on their hospital bills. - Goodbill has since expanded its strategy to serve self-funded employers and health plan administrators, aiming to catch billing errors before the costs are passed on to patients or the plan. This expansion currently covers a total of 50,000 people. - The founders' interest in the problem was sparked by their own confusing and expensive experiences with hospital bills after their children were born.
