RAAPID, Inc., a Louisville, Kentucky-based developer of an AI-driven healthcare risk adjustment platform, has raised an additional Series A funding round from UPMC Enterprises, the venture arm of UPMC.
This funding round comes after earlier support from M12, Microsoft’s venture capital fund.
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The company plans to use the funds to grow its Clinical AI Platform, support co-development projects with UPMC, and improve workflows for retrospective, prospective, and RADV audit programs.
UPMC Enterprises invests in technologies that tackle the biggest challenges for health systems and health plans today. Their investment in RAAPID came after a thorough review of its clinical, technical, and regulatory approach, highlighting RAAPID’s Neuro-Symbolic AI as well-suited for compliance-focused risk adjustment.
RAAPID’s platform links every diagnosis to encounter-based clinical evidence, supporting both code additions and deletions while producing audit-ready documentation. This meets growing demand for risk adjustment tools that are accurate, explainable, auditable, and designed for regulatory scrutiny.
Risk adjustment is at a turning point. With stricter oversight, health plans are questioning whether traditional vendors meet today’s standards for clinical traceability, deletion logic, and audit readiness. CMS enforcement, accelerated RADV audits and DOJ investigations have raised the bar for diagnosis coding, and documentation. Health plans are moving toward compliance first programs, ensuring every diagnosis is encounter linked clinically supported and defensible under audit.
The platform supports Medicare Advantage health plans, ACOs, and health systems across the U.S. While RAAPID works with any cloud, it is mainly deployed on Microsoft Azure, giving customers full control over their data and identities. Organizations with existing Azure spend can apply it toward RAAPID, helping manage IT costs and avoiding extra security approvals. The platform has received HITRUST certification for two years in a row, highlighting its strong commitment to data security and regulatory compliance.
“Neuro-Symbolic AI gives coders and compliance teams what older platforms cannot: a clear, clinician-backed evidence trail for every diagnosis,” said Chetan Parikh, Founder and CEO of RAAPID. “When a company like UPMC, with its deep clinical and operational expertise, evaluates and supports your technology, it sends a strong signal to the market.”
“At UPMC Enterprises, we back innovations that can solve healthcare’s toughest challenges,” said Matt Grant, Vice President at UPMC Enterprises. “RAAPID’s technology fits this mission, and we look forward to working together to create solutions that meet today’s regulatory standards using responsible, transparent AI for risk adjustment.”
About RAAPID
Founded in 2022 by Chetan Parikh and Vatsal Ghiya, RAAPID, Inc. is an AI-driven risk adjustment company based in Louisville, Kentucky. Modern Healthcare named it a 2025 Best in Business Healthcare IT honoree. RAAPID’s Clinical AI Platform, powered by its proprietary Neuro-Symbolic AI, provides accurate and defensible results for retrospective, prospective, and RADV audit workflows. The platform serves Medicare Advantage health plans, ACOs, and health systems, and is backed by M12, Microsoft’s venture fund. RAAPID is HITRUST certified, SOC 2 compliant, and deployed on Microsoft Azure.
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