Penguin Ai, a healthcare artificial intelligence company that solves administrative burdens, announced today that it has secured $29.7 million in venture funding, including a $25 million Series A led by Greycroft. Other participants in the financing include UPMC Enterprises, SemperVirens, Snowflake Ventures, Watershed Ventures and Horizon Mutual Holdings, Inc, the parent of New Jersey's largest and oldest health insurer. The round also included support from the original lead seed investors ManchesterStory and Overwater Ventures, as well as California Health Care Foundation, and Matt Kozlov, formerly of Techstars and now at Multiball Capital. Canvas Prime, Plug and Play and individual angels like John Santelli, former CIO of UnitedHealthcare and Eric Larsen, formerly of the Advisory Board also helped fund the company's seed round last year. The funding will support hiring, product development, and scaling deployments with payers and providers.

Penguin Ai is a healthcare AI company focused on transforming operations for healthcare payers and providers by leveraging cutting-edge generative AI technology. Its flagship platform combines task-specific Small Language Models (SLMs), Digital Workers and Agents, with a full-service healthcare AI platform to streamline healthcare administration processes such as prior authorizations, claims processing, medical records summarization, and appeals management. Designed to streamline healthcare workflows and enhance operational efficiency, Penguin Ai leverages advanced AI models, compliance capabilities, and Digital Workers and Agents to transform the way healthcare enterprises manage their data and operations. Founded by the former Chief Data Officer of Kaiser Permanente, UnitedHealthcare and Optum, Penguin Ai is on a mission to reduce the $1 trillion annual cost of healthcare administration inefficiencies. Through its cutting-edge AI solutions, Penguin Ai aims to streamline healthcare operations, lower costs, and enable better outcomes for patients and providers alike.