Critical Ventures Invests in Kirontech to Support Its Growth in the Fraud, Wastage, and Abuse Solution for the Medical Industry
UK-based MedTech and InsurTech firm Kirontech announced a new funding round to support the scale of its solution to fraud, waste, and abuse (FWA) affecting the global medical payment industry.
Critical Ventures co-invested alongside Venture Capitalworks and BiG Ventures to accelerate Kirontech’s efforts in fixing the £1 trillion problem.
Kirontech will be combining its in-depth knowledge of the medical industry and access to leading-edge big data and machine learning capabilities to expediently detect FWA in payment data. Its Artificial Intelligence technology gives insurance teams the ability to identify potential threats and take effective measures.
The issue of medical fraud, waste, and abuse leakages, despite the negative impact it has on the industry, particularly regarding patient care, is still an unresolved market problem. Kirontech, harnessing its expertise and knowledge in the industry, has developed revolutionary technology that will see waste and costs reduced, while also creating a positive impact and nurturing inclusion in the healthcare sector.
This also marks a ground-breaking leap that will see game-changing technologies transform the healthcare system. This is a very exciting opportunity and a truly great mission to make the healthcare industry efficient, effective, and inclusive.
About Critical Ventures
Critical Ventures is a VC founded to invest in revolutionary technologies that go on to change the world. IoT, Automation, AI/ML and Digitalisation, and Cybersecurity, are just a few of the areas in which Critical Ventures takes great interest.
The Critical family is proud to have built a company of like-minded and passionate professionals dedicated to making the world a better place, one tech solution at a time. The company strongly believes in offering guidance, sharing our expertise, providing financial backing and a hands-on approach so that we can keep moving towards our goal of a better tomorrow!
For more information and to follow the company’s latest investment endeavours, be sure to visit www.critical-ventures.com.