Latent has raised $80 million in a Series A funding round to accelerate the automation of prior authorization processes in healthcare, a critical bottleneck that often delays patient treatment.

Founded in 2022 by Sriram Somasundaram and Rishabh Jain, the company is developing AI-driven systems that analyse medical records, including clinical notes, lab results, and imaging, to streamline insurer approvals. Its platform assists in answering payer queries, compiling documentation, and managing submission workflows, while also enabling follow-ups on request status.

The company reports over $20 million in annualised revenue and adoption across more than 45 health systems, including leading institutions such as Yale New Haven Health, UCSF, Mount Sinai, and Vanderbilt.

Latent plans to utilise the funding to expand its product capabilities and further automate complex healthcare workflows, particularly in specialty drug approvals.