US start-up Arrow emerges from stealth aiming to streamline healthcare payments
US-based healthcare technology firm Arrow has launched with the aim to build the “most important company in US history”, according to founder and CEO Roshan Patel.
Arrow launches backed by $110m investment
Formerly known as Walnut, Arrow has emerged from stealth offering the US healthcare sector a range of tools that enable “fast and accurate” payments for both healthcare providers and payers.
Founded in 2020 and headquartered in New York, Arrow says its payments solutions feature advanced error detection, predictive analytics, denial management, and comprehensive visibility into revenue cycles to streamline claim processes, boost claim accuracy, and drive smarter decision-making and operational efficiency.
“Our vision is real-time, frictionless payments in healthcare where patients have transparency into what care costs, providers are paid in real-time without manual administrative work, and health plans increase efficiency and reduce fraud, waste, and abuse, all while making their members and providers happier,” writes Patel in a LinkedIn post.
To help propel the company’s launch, Arrow secured $110 million in a Series A round led by Gradient Ventures in May 2022.
The round, which consists of $100 million in debt financing and $10 million in equity financing, was also supported by Company Ventures, Banana Capital, Muse Capital, Newark Ventures, Afore Capital, CityRock Ventures, AngelList, Weekend Fund, Goodwater Capital, and 2048 Ventures, among others.
