Primary source: Charta Health via PR Newswire, November 10, 2026, 9:00 a.m. ET
On November 10, 2026, Charta Health announced a $55 million Series B led by Insight Partners. The company is using the round to sell the same AI chart review to the clinic that wants the claim paid and the health plan that may not. If you run revenue cycle, that is not a neutral tool. It is one engine with two customers who do not share a P&L.
Series B led by Insight Partners. Charta says total funding is now $85 million, its third round in under two years, and that revenue grew 10x in the last 12 months. No valuation was disclosed.
The release is datelined San Francisco, November 10, 2026, and timed at 9:00 a.m. ET on PR Newswire. Existing investors Madrona, Bain Capital Ventures, and South Park Commons participated, alongside QuantumLight. The About section calls Madrona “Madrona Venture Group” and lists Insight, Bain Capital Ventures, Madrona, and “other leading investors.” South Park Commons and QuantumLight are in the lead paragraph. They are not repeated in that About sentence.
| Element | What the November 10 release says |
|---|---|
| Round | $55 million Series B, led by Insight Partners. Total funding $85 million. Third round in less than two years. |
| Who wrote checks | Insight leads. Madrona, Bain Capital Ventures, and South Park Commons participated as existing investors, alongside QuantumLight. |
| What the money launches | Charta for Providers and Charta for Payers, on one AI engine. The release also says the funding accelerates AI research and development. |
| Growth | Charta says revenue grew 10x in the last 12 months, with both health plans and provider organizations. No base revenue is stated. |
| Named customers | American Family Care, Grow Therapy, and Pediatric Associates Family of Companies. |
| Valuation | Not disclosed. |
This is not Charta’s first check, and there is no earlier RevCycleAI article to update. On July 22, 2025, the company posted that it had raised a $22 million Series A led by Bain Capital Ventures, with Madrona, SV Angel, Refract Ventures, and South Park Commons, and that the round brought total funding to over $30 million. That post is already on the deals tracker. Today’s release does not itemize those earlier checks, does not mention SV Angel or Refract, and does not publish a valuation. The July post’s “over $30 million” and today’s “$85 million” are both the company’s figures. This article does not turn the gap into a seed size.
Insight’s same-day note, by Maggie Morse and Tejas Parekh, says the firm is leading the round alongside Bain Capital Ventures, Madrona, South Park Commons, and QuantumLight. Madrona’s note, by Sabrina Albert and Karan Mehandru, says Insight led, with participation from Madrona, Bain Capital Ventures, South Park Commons, and QuantumLight, and that total funding is $85 million across three rounds in under two years. Axios Pro’s deal brief returned 403 and is not used.
The release calls Charta “the AI medical chart review platform built for billing accuracy.” It says the AI reads clinical documentation the way an expert coder and auditor would, flagging missing codes the chart supports and removing codes the documentation does not adequately support. Charta for Providers and Charta for Payers “run on one AI engine.” The company calls itself one of a few AI companies with dedicated offerings for each side. That “one of a few” is Charta’s line.
On the provider side, the release says Charta for Providers reviews every chart before claim submission, against coding guidelines, payer rules, and the organization’s own clinical protocols. Findings surface for human approval inside the electronic health record. The company says providers then submit claims “built to hold up,” with fewer denials and reduced clawback risk. It does not publish a denial rate, a clawback rate, or a dollar of recovered revenue. Series B financing, it says, expands the provider offering to new specialties. It does not name the specialties.
On the payer side, Charta for Payers launches with this round. The release says it was designed in partnership with “one of the nation’s largest health insurers.” The insurer is not named. Do not fill that blank. The suite is six products:
The release says those products are for health plans in government-paid programs, covering diagnosis coding and quality, and it names Medicare Advantage and ACA Marketplace plans in the About section. It also says regulators are pursuing an agenda of reducing waste, fraud, and abuse. It does not name a rule, a RADV audit year, or a repayment figure.
“We came to healthcare as engineers and saw a system where the most important data was locked in documents no one had time to read,” said Justin Liu, CEO and co-founder of Charta Health. “Charta unlocks that data. When every chart gets reviewed, accuracy stops being a guess. Payers and providers should agree on the chart before a claim goes out, not fight about it after. That’s how we end the costly cycle of denials and appeals, and put billions of dollars back into patient care.”
“Healthcare payments depend on the medical chart, and charting errors cause costly problems across the entire process,” said Jeff Horing, co-founder and managing director at Insight Partners. “As payers and providers both adopt AI, we believe the opportunity lies in getting the underlying record, or the ‘ground truth,’ right before a claim is submitted. Charta pairs AI with customer-specific coding expertise and serves both sides of that market. We are excited to partner with Justin, Scott, and the team as they scale.”
“As Grow scales access to mental health care, accurate documentation is essential to doing right by our patients, our providers, and our payer partners,” said Brynna Pietz, vice president of clinical and insurance operations at Grow Therapy. “Charta helps us review charts at a scale that wouldn’t be possible manually, so our clinicians can stay focused on care.”
Liu and Scott Morris, the CTO, came from Rockset. The release says Rockset “became OpenAI’s first product acquisition.” Both earned Certified Professional Coder credentials, and the company says they interviewed more than 100 healthcare leaders before building Charta. Charta now requires its engineering and growth teams to get certified in medical coding as well. Those are credentials and a hiring rule. They are not a coding-accuracy rate.
The release says a 2025 study estimated that claims adjudication cost hospitals and health systems more than $25 billion in 2023, and that nearly $18 billion of that was potentially wasted on denials and appeals. It does not name the study. Madrona repeats that wording. Insight’s note is looser: “one 2025 report” put adjudication cost for “U.S. healthcare practices” above $25 billion a year, and it drops the $18 billion. None of those sentences is a Charta result. The 10x revenue line is the company’s, with no starting revenue. No valuation is stated, and none is estimated here.
There is a second limit, and it sits in the workflow, not the cap table. The release says provider findings “surface for human approval inside the electronic health record.” Madrona, describing the product it backed at Series A, says the AI flagged missed codes and unsupported diagnoses “for a person to approve,” and that Charta then sold only to providers. Insight’s November 10 note says something else: “Charta corrects simple issues automatically. Nuanced issues route to the clinician inside the EHR.” Automatic correction and human approval are not the same control. If you are evaluating the provider product, the sentence in the release is the one to put in the security review. Insight’s sentence is the investor’s description of how the product works.
The old coverage rate is the same kind of problem. Insight writes that providers “manually spot check 10% of charts or fewer.” Madrona writes that when it first invested, “most provider groups looked at only 1–2% of their charts.” Both are investor sentences. Neither is a published audit of Charta’s customers. Insight also writes that a two-person coding team can do the work that used to take 14 people, that customers described going live in weeks, and that several had switched to Charta and none had switched away. Those lines are in the investment note. They are not in the release, and they do not name a customer.
This is RevCycleAI’s read. The release’s slogan is a shared standard of accuracy, applied before the claim goes out, so the plan and the provider stop fighting after. The product list is where that slogan meets the money.
Provider-side coding integrity and payer-side HCC coding do not pay the same person. A code the chart supports and the clinic never billed is revenue the clinic left behind. A code the chart does not support, and the plan already paid, is a clawback, and on Medicare Advantage it is also an audit problem. RevCycleAI has already walked through that tension in the Cotiviti deep dive: plans are pushed to find unsupported diagnoses before a RADV review extrapolates them, and pushed to capture legitimate conditions that were never coded. Charta’s payer list sits on that same seam. Retrospective HCC coding, prospective risk-adjustment intelligence, and an HCC validation and audit workflow are plan economics. Pre-bill review against the clinic’s own protocols is provider economics. “One engine” does not make those customers want the same code on the claim.
The unnamed insurer matters for the same reason. The payer suite was “designed in partnership with” one of the nation’s largest health insurers. A health plan buying Charta for Payers is buying a product shaped with a peer it cannot see. A provider buying Charta for Providers is buying a pre-bill review the company also sells to plans. Liu’s line, that the two sides should agree on the chart before the claim goes out, is the pitch. Horing’s line, that the opportunity is the ground truth before submission, is the investor’s version of the same pitch. Neither quote says whose rule wins when the chart supports a code the plan would rather not pay.
The rest of the pre-bill and coding-integrity shelf is still mostly on one side of that argument. Fathom, Nym, and CodaMetrix sell coding automation into the provider workflow. SmarterDx sells clinical AI for hospital revenue integrity. Ember just landed on the NextGen marketplace for specialty practices, with no price and no yield. XpertDox, also today, is taking autonomous coding into a California FQHC. Charta’s difference, on the facts in this release, is that it is raising growth capital to sell the provider pre-bill review and the payer HCC stack from the same engine. The company profile is the place to track which of those six payer products, and which specialties, actually show up in a contract.
Charta just raised $55 million to review the chart for the clinic and the plan. The release’s standard is shared. The incentives are not. The 10x is the company’s. The valuation is blank.
Buy the workflow, not the slogan. If you are a provider, the release says every chart is checked before submission and a person approves the finding inside the EHR. Insight’s note says simple issues are corrected automatically. Get that difference in writing before a coder’s queue is redesigned around it. If you are a plan, you are looking at six products, from retrospective HCC coding to HEDIS gap detection, designed with an insurer the release will not name. Ask which product is in the order form, and whether “second-pass” means your coders still sign the code.
The round itself is straightforward. $55 million, Insight in the lead, $85 million total, third round in under two years, three named provider customers, a 10x revenue claim with no base, and no valuation. The operating result this release does not contain is a denial rate, an audit finding, or a dollar returned to care. Liu says the point is to put billions back into patient care. The billions in the release are the unnamed 2025 study’s adjudication estimate, not a Charta outcome.
Who bought, which side of the claim the product sits on, and the number the company actually printed.
Sources: Charta Health via PR Newswire, “Charta Health Raises $55 Million Series B to Establish a Shared Standard of Accuracy in Healthcare Billing,” November 10, 2026, 9:00 a.m. ET, San Francisco (page opened); Insight Partners, Maggie Morse and Tejas Parekh, “Behind the investment: Charta Health,” November 10, 2026 (page opened); Madrona, Sabrina Albert and Karan Mehandru, “Doubling down on Charta as Healthcare Goes AI-Native,” November 10, 2026 (page opened); Charta Health, “Charta Health raises $22M Series A,” July 22, 2025 (page opened). Quotes from Justin Liu, Jeff Horing, and Brynna Pietz are verbatim from the PR Newswire release. The $55 million, $85 million, 10x, third-round, customer names, six payer products, unnamed insurer, CPC credentials, Rockset line, and the unnamed 2025 study’s more-than-$25-billion and nearly-$18-billion figures are the release’s. Insight’s 10% spot-check, automatic correction, 14-person illustration, and “live in weeks” lines are Insight’s. Madrona’s 1–2% spot-check and “person to approve” line are Madrona’s. No valuation was disclosed, and none is estimated. Axios Pro returned 403 and is not cited. There is no prior RevCycleAI Charta article.