Medmo Raises $15M Series A to Expand AI-Powered Radiology Referral Platform
Medmo has raised US$15 million in its Series A funding round to accelerate the growth of its radiology referral orchestration platform. The round was led by Covera Health, with participation from existing investors including Origin Ventures, Lerer Hippeau, Digital Health Venture Partners, and Toppan Global Venture Partners.
Medmo provides a comprehensive platform for managing the entire radiology process, from initial patient engagement and scheduling to prior authorization, imaging results retrieval, and follow-up. The platform supports a broad range of diagnostic imaging modalities, including MRIs, CT scans, mammograms, ultrasounds, and X-rays.
To date, Medmo has orchestrated over one million patient journeys through its system, helping providers and imaging centers reduce inefficiencies commonly associated with scheduling and coordinating diagnostic exams. The company reports that its platform delivers measurable benefits, including a roughly 30% increase in completion rates for ordered imaging exams, up to 35% reduction in imaging-related spend by directing patients toward higher-value care settings, and a significant reduction in administrative burden — saving care teams more than 40 hours per 100 referrals compared to traditional workflows.
The Series A funds will be used to expand Medmo’s footprint across value-based care workflows, deepen offerings for insurance companies, and further automate radiology referral management to improve care coordination and lower costs. The company’s goal is to make imaging easier to access and manage for patients, providers, and payers alike.
Medical imaging has long been challenged by inefficient and fragmented scheduling processes. Patients, providers, and imaging centers often relied on manual communication methods such as phone calls, fax, and email. Medmo replaces these methods with a unified digital system that provides transparency into the entire patient journey, ensuring referrals are completed, reducing delays and missed appointments, and lowering administrative overhead.
For healthcare organizations, this clarity and automation can lead to better patient outcomes and lower cost of care. Provider groups using Medmo have reportedly seen meaningful increases in diagnostic exam completion, which helps insurers and healthcare systems improve care continuity, adherence, and performance on value-based care metrics.
Medmo previously raised $9 million in a 2023 financing round led by Lerer Hippeau, with participation from investors including Jerusalem Venture Partners (JVP), C2 Ventures, and Stone IsraVentures. The new Series A represents a significant step up in both ambition and resources for the company.
As healthcare increasingly shifts toward value-based care models, providers and payers face pressure to streamline diagnostic workflows, improve efficiency, and ensure patients receive timely care. Medmo, with its AI-powered care coordination and referral orchestration platform, aims to meet this demand by offering a scalable nationwide solution that addresses persistent inefficiencies in the medical imaging industry.
