With new name & funding, inaugural Atlanta Startup Battle winner tackles healthcare woes with AI

A previous winner of Atlanta Startup Battle, which is now a staple event on the local tech community calendar, has been busy since the big win in 2016. 

FraudScope officially changed its name to Codoxo in December of 2020, which CEO/founder Musheer Ahmed said reflects the team’s “expanded offerings” within the healthcare AI space. 

The platform is designed to identify cost-saving areas within healthcare. Upwards of $380 billion a year is lost to fraud, waste, and abuse, according to the startup. 

To date, the platform has processed over $1 billion in claims. 

Codoxo is now starting 2022 off with a $20 million oversubscribed Series B round, bringing the startup’s total funding to date to approximately $30 million. 

The current funding round was led by QED Partners, with Sands Capital, 111 West Capital, and existing investors Brewer Lane Ventures, Spider Capital, and GRA Venture Fund.

The team says the funding will go towards expanding its services into government agencies and the pharmacy benefit management space.



“Tremendous innovation is happening in the healthcare space, especially when it comes to advanced analytics that impact healthcare costs,” said Michael Graninger, Partner at Sands Capital, in a press statement  “Sands Capital is strongly committed to partnering with companies like Codoxo that are transforming and simplifying integral industries such as healthcare and have considerable potential for successful growth.”

Codoxo recently expanded its Healthcare Integrity Suite to tackle fraud and payment integrity issues for healthcare payers and government agencies. 

The Codoxo team told Hypepotamus that 50% of Codoxo’s existing clients chose to expand their work with the company over the last year.