Plenful, an AI-powered automation platform revolutionizing healthcare operations, has announced the close of a $50 million Series B funding round, bringing its total funding to $76 million. The round marks a major milestone in the company’s mission to streamline administrative workflows and alleviate the growing burden on healthcare teams.
The round was led by Mitchell Rales and Arena Holdings, with participation from Notable Capital, Bessemer Venture Partners, TQ Ventures, Susa/Kivu Ventures, and other investors.
Founded by former healthcare operators, Plenful was created in response to the overwhelming inefficiencies across the U.S. healthcare system. The company is committed to tackling the $1 trillion annual cost of administrative tasks by introducing AI solutions that reduce burnout, reclaim time, and improve operational accuracy.
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“This round isn’t just about capital — it’s a reflection of the momentum we see every day from customers tackling real, systemic issues,” said the Plenful team in a statement. “Our mission remains clear: to return time, focus, and sanity to the healthcare teams doing vital work.”
A Year of Transformational Growth
Plenful has experienced rapid growth over the past year, expanding its customer base to include over 60 healthcare organizations, such as:
- Medical University of South Carolina (MUSC)
- Cencora
- Renown Health
- Shields Healthcare Group
- Samaritan Health
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The company has also opened a second headquarters in New York City to support its growing East Coast operations and customer base.
Proven Impact on Healthcare Operations
Plenful’s platform automates high-volume, labor-intensive workflows including:
- Prior authorizations
- 340B compliance audits
- Order and referral data entry
This automation has allowed healthcare teams to:
- Save thousands of manual hours
- Expand 340B audit coverage from <5% to 100%
- Increase processing speed by up to 4x
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Looking Ahead
With its new funding, Plenful plans to:
- Invest heavily in product innovation, with a focus on machine learning and platform expansion
- Enhance customer support, ensuring healthcare partners unlock maximum value
- Grow its mission-driven team, with active hiring across multiple functions
