AlleyWatch sat down with Plot Co-founder and CEO Megan Duong to learn more about the business, its future plans, recent funding round, and much, much more…

Who were your investors and how much did you raise?
We raised $10M in a seed round co-led by XYZ Venture Capital and Mischief Ventures, with participation from Seven Seven Six, Alexis Ohanian’s fund,  and Acme Capital. This brings our total raised to $14M. What made this round special to me is the caliber of operators and marketers around the table. Camille Ricketts, who co-led from XYZ, was previously Head of Marketing at Notion and First Round Capital. She told us this was her first investment at XYZ. She wasn’t just writing a check, she felt the pain we’re solving firsthand. Dustin Moring at Mischief Ventures brings a rare combination of product instinct (Cash App, Square) and operator experience. The Mischief team includes founders and operators who have built some of the defining companies of the last decade, and that’s exactly the kind of backing we wanted.

Tell us about the product or service that Plot offers.
Plot is a social video intelligence platform for enterprise brands. In plain terms: we analyze social video data so brands can see and understand what’s actually happening in video without any tagging required.
Here’s the problem we’re solving. Roughly 80% of brand mentions in social video are untagged. Someone shows your product, speaks your brand name, holds your packaging and none of it gets picked up by traditional social listening tools because those tools were built for text, hashtags, and captions. Plot was built to see inside video. We use multimodal AI to analyze audio, visuals, and on-screen text simultaneously, so if a creator is making dinner and your product is sitting on their counter, we catch it, even if they never mention you by name.
From there, brands use Plot for four core things: tracking earned media (tagged and untagged), sourcing and vetting creators for campaigns, running consumer research in minutes instead of weeks, and measuring the impact of their community engagement efforts. On average, brands discover 2–8x more content featuring their products than they were capturing before.
Toto Haba, SVP, Global Marketing and Communications at Benefit Cosmetics, put it well: “Since using Plot, I’ve been seeing a 30 percent to 50 percent lift in user-generated content that features our products but does not tag us. This is a big deal because brands like us rely on engaging with our advocates directly. I’m buzzing with the possibilities for engaging in conversations that are ‘hidden’ to us today. Things like ‘benefit brow services experiences’ aren’t something that gets tagged. Plot lets you break out of your For You Page (FYP).” That’s the unlock, not just seeing more data, but acting on it before the moment passes.

What inspired the start of Plot?
My entire career has been in social media and branding. I’m what I call a first-generation social media marketer. I came up learning how to write great copy, built the social team at Apple, and understood the text-based world deeply.
When I left Apple in 2020 and started a social media agency, two things happened simultaneously: the pandemic hit, and TikTok took over. Overnight, everything I knew about content shifted from text-first to video-first. I was creating video content for brands and trying to pull insights from it and I quickly realized no tools existed to make sense of what was happening inside video at scale.
I was watching creators talk about products, hold them up, mention them in passing, and brands had no idea. The data was right there, but invisible. I saw a massive untapped market, met my co-founder and CTO Ethan, who led product engineering at Formation Bio from Series A to C, previously at Microsoft, through a YC co-founder matching program, and we started building Plot in 2022. The technical timing was also right. Multimodal AI had finally matured to the point where analyzing video at scale was both possible and affordable. Eighteen months ago this was technically out of reach for most startups. Today it’s in production for Fortune 500 brands.

How is Plot different?
The differentiation starts with what we can actually see. Sprinklr and Brandwatch were designed for a text-first era. They require tagging, hashtags, or captions to surface a mention, and were really built around customer service use cases. Plot analyzes the full context of video: visuals, audio, objects, actions, on-screen text. We built a rich video intelligence layer and leverage that data to supercharge agentic workflows across community, influencer, and research. If someone holds up a Goldfish cracker while making dinner and talks for two minutes without ever mentioning the brand, we find it. No other tool in the market does that today.
Plot’s video intelligence layer lets you see real signals, and our agents let you act on them. Creator Sourcing lets marketing teams find creators with a prompt: “Find me 100 skateboarders in Brooklyn who’ve used our product in the last three months.” We surface real matches from video data, not bio keywords. Deep Research compresses weeks of consumer research into minutes. And our community tools help brands identify and engage their superfans at scale. People who love the product but have never been tagged, never been reached.
It’s also worth noting: for brands that already have Sprinklr or Meltwater for text coverage, Plot is additive. We’re not asking anyone to rip and replace. We fill the video gap those tools literally cannot see.

What market does Plot target and how big is it?
We serve enterprise consumer brands with a strong presence on TikTok and Instagram. Our core buyers sit in social media, community, consumer insights, and influencer marketing. Our customer base spans beauty, CPG, food and beverage, fashion, financial services, sports, and entertainment, and includes brands like Visa, Mastercard, PepsiCo, Fenty Beauty, Benefit Cosmetics, CAVA, Canva, Lululemon, and Warby Parker.
What’s surprised us is how many “non-obvious” verticals need this. We’re working with insurance companies, fintech brands, and even QSR chains because any brand trying to reach a younger generation is trying to understand what’s happening in video. That expands the market considerably.
In terms of size: social intelligence and market research services represent a $100B market, and influencer platforms and services are another $35B on top of that. As we build deeper intelligence on both brands and creators, we’re positioned to expand across both. The total addressable market we’re going after is $135B and we’re starting with the intelligence layer that makes the whole thing work.

What’s your business model?
SaaS. Enterprise brands pay annual subscriptions to access the Plot platform, and contracts expand as teams find more use cases: social, community, insights, influencer, research. Our 132% net revenue retention rate tells that story: customers stay and grow.
Historically, most of our growth has been almost entirely inbound. We haven’t had an outbound sales team. Brands find us because they’re hitting the wall of what legacy tools can do, and someone on the team hears about Plot through a customer, a conference, or a press story and comes to us. We think that will continue, and the funding is helping us build the team and product to support that demand at scale.
For example, when Benefit Cosmetics’ SVP of Global Marketing saw her own data for the first time featuring Benefit products that had never been tagged, entire categories of UGC her team didn’t know existed, she said, “Plot lets you break out of your For You Page.” That moment of recognition started repeating across customer after customer, and within months Fortune 500 brands like Visa and Mastercard were finding us through word of mouth — brand teams telling other brand teams, “you have to see this.”

How are you preparing for a potential economic slowdown?
We’re actually in a position where an economic slowdown tends to accelerate demand for what we build. When budgets tighten, brands need to prove the ROI of every dollar, which means they need better data. They need to know which creators are actually driving results, which campaigns are cutting through, and where authentic brand love lives. Plot answers all of those questions.
We’re also seeing brands shift away from expensive paid influencer deals toward community-led growth, engaging superfans who already love the product. That’s a meaningfully cheaper strategy, and it’s one Plot enables. When a brand realizes they can find and engage 10,000 authentic advocates who’ve never been tagged, at a fraction of the cost of one mega-influencer deal, that’s a budget conversation that writes itself.
And then there’s the agentic piece: the work that used to require a team of analysts, coordinators, and agency hours — sourcing creators, running research, tracking campaigns — Plot’s agents handle automatically. That’s real headcount and agency spend that brands can reallocate. In a tighter environment, that value proposition becomes more compelling, not less.
We’re a 12-person team in New York and deliberately lean. The business has scaled 3.8x year-over-year almost entirely on inbound demand. That foundation holds up well in uncertain environments.

What was the funding process like?
Honestly, we were selective about who we wanted in the room. The investors who understand this market deeply are operators and marketers who’ve felt the problem firsthand. That was the filter.
Camille Ricketts at XYZ had lived this as Head of Marketing at Notion. She understood immediately why brands were flying blind in video. Dustin Moring at Mischief has a deep read on where media and the creator economy are going. The Mischief team is built around product operators who have founded and scaled defining companies, including Zach Perret, the co-founder and CEO of Plaid. That perspective on what it takes to build foundational infrastructure was exactly what we wanted. And Alexis Ohanian — Co-founder and Executive Chair of Reddit and Founder of Seven Seven Six — has spent his career at the intersection of community and the internet. Everyone around the table came with genuine conviction about the category, not just the company.

What are the biggest challenges that you faced while raising capital?
The biggest challenge was helping investors understand that this is a new category, not just a feature on top of existing social listening. Social listening is a well-known space, and there’s a temptation to pattern-match us to existing tools. We’re not that. We built the video intelligence layer. Once you own the layer, we enable agents to act on it and supercharge challenging marketing roles.
The education piece was real. We had to show, not just tell — demo the product, walk through how it finds untagged content, show what it unlocks that nothing else in the market can. Once investors saw it, the reaction was consistent: “Why doesn’t this exist already?” Getting there in a 30-minute pitch required building a clear through-line from the technical infrastructure to the business outcomes brands care about.

What factors about your business led your investors to write the check?
Three things. First, the problem is undeniable. Video is now 76% of all mobile data traffic and the IAB estimates U.S. companies are spending about $43.9 billion on influencer and creator marketing in 2025. This category is expanding rapidly, growing four times as fast as the overall traditional media advertising industry. Consumer conversation has moved entirely to video, and marketing measurement tools haven’t. That gap is massive and structural.
Second, the traction and the speed of it. 3.8x ARR growth year-over-year, 132% NRR, enterprise logos like Visa, Mastercard, and PepsiCo, and we had locked in all of these top-tier enterprise brands within our first year of being live, almost entirely inbound. That’s unheard of. GTM is my background; I spent a decade in social and brand marketing before starting Plot. Having a technical co-founder in Ethan and a GTM-focused founder in me meant we could build the product and sell it at the same time. A lot of great products stall because the team can’t go to market. That wasn’t our problem.
Third, timing. Eighteen months ago, analyzing social video at this scale and price point wasn’t technically feasible. Multimodal AI crossed a threshold that made it possible. We were positioned at exactly the right moment to build this, and we moved fast. The customer roster we’ve built in 18 months proved the market was waiting.

What are the milestones you plan to achieve in the next six months?
Building the agentic layer to action against these rich video signals we built.
We shipped AI Creator Sourcing. This is one I’m really excited about. Marketing teams can describe exactly the creator they want to find and let Plot surface real matches from video data. Not bio keywords. Actual video evidence of who they are, what they use, what they talk about. If you’re looking for curly hair creators, our AI looks at millions of videos to find the best fit creator by analyzing their videos.
Deep Research follows closely behind. We’re compressing what used to take consumer insights teams weeks, pulling themes, understanding sentiment, answering strategic questions, into something that takes minutes inside the platform.
We’re also expanding our data sources, including Reddit, which gives brands an even richer picture of where consumer conversation is happening. And we’ll continue to scale the enterprise customer base and expand inside the accounts we already have. The 132% NRR tells us there’s a lot of room to grow within existing customers as more teams inside the same company discover the platform.

What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Stay close to your customers and get clear on your GTM strategy. Our entire growth has been inbound, driven by customers who had a real problem and found that Plot solved it. That only happens when you’re solving something that actually matters. Not something you think should matter, but something people are actively struggling with. You can have a great product, but if you don’t know how to sell to your target market that’s the biggest hurdle.
And in New York especially: use the network. This city has an incredible density of marketers, operators, and founders. Every customer we’ve landed has come with some kind of warm introduction or word-of-mouth connection. Relationships compound here.

Where do you see the company going now over the near term?
We think of Plot as the social data layer for the next generation of marketing AI. The near-term is about shipping the full agentic OS on top of our video intelligence infrastructure, specialized agents for every marketing function, each powered by the same underlying data layer.
We have four agents in motion: the Community Agent, which identifies and activates superfans to drive repeat revenue and reduce CAC; the Campaign Agent, which gives teams instant campaign insights so they can reallocate budget to what’s actually working; the Research Agent, which surfaces product opportunities and whitespace from real consumer signals; and the Influencer Agent, which automates creator sourcing, vetting, and communicating  at scale.
Today, marketing teams are limited by human capacity, how many videos someone can watch, how many creators someone can vet, how many comments someone can leave. The near-term is about removing that ceiling. We’re building so that the work that used to require a team of analysts happens automatically, in real time, every day. That’s what we mean when we say agentic OS for video intelligence.

What’s your favorite spring destination in and around the city?
Central Park is my favorite during the spring in NYC. It’s a great change of pace from downtown where I live in SoHo.

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AlleyWatch sat down with F2 Founder and CEO Don Muir to learn more about the business, its future plans, and recent $14M seed round that brings total funding to $24M.

Who were your investors and how much did you raise?

F2 raised $24M in total equity capital, including a $14M seed round. The seed round was led by HighlandX, with participation from Left Lane Capital, NFX, Y Combinator, and Torch Capital.

Tell us about the product or service that F2 offers.

F2 is a compounding intelligence platform for private markets investors. It delivers end-to-end agentic workflow automation across:

• Screening
• Underwriting
• Portfolio monitoring

The platform transforms a firm’s deal history into a persistent, queryable knowledge asset and evaluates new opportunities using full contextual data (precedent deals, data rooms, market data). The platform is powered by an Excel-native financial analysis engine and includes tools like Adam (AI deal associate), Deal Intelligence, and Institutional Knowledge.

What inspired the start of F2?

F2 was founded to solve the needs of Arc’s lender customers as they reviewed and underwrote debt deals on the Arc capital markets platform.The system was initially an internal agentic underwriting tool, developed to address operational pain points firsthand. After proving effective, Don Muir presented it as a standalone commercial opportunity, leading to the creation of F2 with backing from prior investors.

In addition, private markets are at an inflection point, where firms embedding AI into sourcing, underwriting, and monitoring can build a structural competitive advantage over time.

How is F2 different?

F2 differentiates itself by: doing the following:

• Embedding directly into deal workflows used by investment teams.
• Delivering customized deployments for each enterprise.
• Using a multi-model, LLM-agnostic architecture (Opus, ChatGPT, Gemini, and proprietary tools).
• Achieving up to 60% better performance vs. generic agents and 5x token efficiency.
• Providing enterprise-grade data privacy (zero-day retention, no training on client data).

What market does F2 target and how big is it? 

F2 targets:

• Private credit funds
• Commercial banks
• More broadly, private markets investors

The company operates within the global private markets ecosystem, a roughly $15 trillion asset class, where much of the investment process remains manual and under-digitized. F2 is already deployed across 100+ funds and banks globally.

What’s your business model?

F2 is an enterprise AI platform for private markets investors (private credit, PE, commercial banking), providing workflow automation across the deal lifecycle. F2 sells an enterprise SaaS platform that helps investment teams move faster, standardize decision-making, and improve outcomes across the deal lifecycle.

• It provides end-to-end workflow automation across key investment processes – screening, underwriting, and portfolio monitoring.
• The platform embeds directly into firms’ existing deal workflows, rather than sitting as a standalone tool.
• It converts raw deal materials and historical transactions into structured analysis and a persistent “institutional knowledge” layer, which compounds value over time.

How are you preparing for a potential economic slowdown?

F2 customers need technology regardless of market direction.

When capital markets were hot, the speed to underwrite and time to term sheet were important levers to win deals in a competitive market. F2 allows our clients to move faster. When they inevitably slow down – risk mitigation, and proactive risk monitoring become key. In that case, F2 helps identify risk faster and more effectively.

What was the funding process like?

F2 had early backing from about 50 investors tied to Arc. It has then continued to raise capital, including a recent fundraise tied to strong market demand for vertical AI in finance.

Funding has been largely driven by our credibility and direct product-market fit within private credit workflows.

What are the biggest challenges that you faced while raising capital?

The biggest challenge is shifting investor thesis on the application layer in the era of AI.

Will frontier labs win, or will vertical AI software? It has become increasingly clear throughout our process that the market believes that in complexly regulated areas like finance and healthcare, where “last mile” accuracy matters, “good enough” generic horizontal LLMs aren’t enough. It has become obvious that expert vertical solutions, like F2,  are then necessary.

What factors about your business led your investors to write the check?

Craig Driscoll, who led the investment for HighlandX said, “Private markets are at an inflection point. The firms that build AI into the core of how they source, underwrite, and monitor will compound an advantage that becomes structural over time.” What sets F2 apart is its ability to embed directly into deal workflows and fit naturally into how serious investment teams operate.”

F2 has been able to demonstrate real traction and a clear path to sustainable growth. In this environment, there’s a higher premium on capital efficiency and strong unit economics, and we built the business with that discipline from the start. Combined with a differentiated product and a focused team, that gave investors confidence in both our near-term execution and long-term upside.

What are the milestones you plan to achieve in the next six months? 

In the next few months we hope to chive the following:

• Scaling deployments across credit funds and banks.
• Expanding the product suite.
• Growing our engineering and enterprise teams globally.

What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?

The rules of the game have changed in the last 12 months, and the bar on growth and revenue have increased as new AI native companies have shown that it’s possible to build big companies much faster. Growth and scale aren’t the only metrics though: durability and defensibility is critical. That means proving high usage, sticky customers, and deep workflow. Tomorrow’s companies aren’t just building products, they are delivering product augmented service. That means aligning and tailoring product to your end customer not just giving them a turnkey solution.

Where do you see the company going now over the near term?

In the near term, F2 is focused on scaling adoption across leading lenders globally, while continuing to deepen its position within private credit and broader private markets. The company aims to become core infrastructure for investment teams, embedding AI directly into how firms source, underwrite, and manage deals. At the same time, F2 will continue expanding its platform capabilities and enterprise footprint, reinforcing its role in shaping the next generation of credit and investment workflows.

What’s your favorite spring destination in and around the city?

There is nothing quite like the Hamptons before Memorial Day!

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AlleyWatch sat down with Alex Wendland, Cofounder and Co-CEO of Adaptive Innovations, to learn more about the business, its future plans, recent funding round, and much, much more…

Who were your investors and how much did you raise?

We raised a $50M Series A led by Felicis, along with participation from Bain Capital Ventures, Optum Ventures, Sunflower Capital, BoxGroup, Dorm Room Fund, Constellation VC, SV Angel, and prominent angel investors across healthcare services and AI labs. We also raised a previously undisclosed $10M in seed funding led by Bain Capital Ventures, bringing our total funding to-date to $60M.

Tell us about the product or service that Adaptive Innovations offers.

Adaptive Innovations is an AI-native healthcare provider, starting in home health. We combine AI-native operations with clinicians-in-the-home to get every patient the care they need, including the 40% of patients legacy home health providers turn away.

What inspired the start of Adaptive Innovations?

There are many AI healthtech companies, but care can’t be delivered through a screen. Real care happens physically, between a clinician and a patient. And as a country, we don’t deliver enough of it. In post-acute care, the clinicians exist and patients exist, but 40% of patients are turned away due to the high admin burden and care coordination problem. Adaptive exists to solve this.

How is Adaptive Innovations different?

We’re not a software vendor. We’re the provider, and we’ve rebuilt the entire end-to-end operations that care runs on with AI at the core. This allows us to say yes to the patients that other providers turn away, and also get them better quality care – our rehospitalization rate is less than half the industry average.

What market does Adaptive Innovations target and how big is it?

We’re starting in home health, but targeting the entirety of post-acute care. Home health is a >$100B market and one of the fastest-growing outpatient sectors on pace to nearly double over the next 5-6 years.
We’re not stopping at skilled nursing visits. Home health is the coordination layer through which the rest of post-acute care flows including home infusion, dialysis, durable medical equipment deployment, hospice, and specialty pharmaceuticals. Today, these verticals are fragmented and disconnected, but as we build density, we are building the only platform capable of solving the full post-acute coordination problem.

What’s your business model?

Because our AI operating system removes most of the heavy administrative burden, we can serve the patient referrals that other agencies reject. Being able to expand care to patients drives physical network effects which in turn fuels durable growth.
More patients leads to more patient density, meaning clinicians drive less between visits, which raises their productivity and total take-home compensation. This also means that we build more trust with hospitals and referral sources, making them want to refer more patients to us. And finally, as we reach more patients, we’ll be able to thoughtfully partner with payers on innovative contracting models that align with our ability to shift outcomes at the population level.

How are you preparing for a potential economic slowdown?

People need care in any economy.
But also, when budgets tighten, health systems and payers get more cost-sensitive. Because AI removes most of our admin cost, we earn a far wider margin on every visit than a traditional agency does. That margin is a buffer: we can keep delivering care at reimbursement levels that would put a legacy agency underwater.

What was the funding process like?

Investors are looking for a new class of startup that benefits from AI but isn’t consumed by it. The SaaS companies of the past are no longer interesting, because AI lets anyone vibecode software. Investors saw that we’re an early player in this new wave of real businesses that gets better as AI gets better.

What are the biggest challenges that you faced while raising capital?

Investors are still learning how to think about this new era of AI-not-SaaS businesses. We found that the sharpest investors understood this paradigm shift quickly, while others are still figuring it out.

What factors about your business led your investors to write the check?

Adaptive is solving an important problem (caring for patients), at a massive scale (>$100B market), with a rare team combining the best engineers in tech and the best operators from healthcare.

What are the milestones you plan to achieve in the next six months?

This new funding accelerates our expansion to new states.

What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?

AI lets you do more with less. We’ve found that the best operators and engineers can do more than 2x what the next best can do simply because they know how to leverage AI more effectively.

Where do you see the company going now over the near term?

We plan to continue expanding within Texas as well as new states.

What’s your favorite spring destination in and around the city?

The High Line, hands down. I love greenery & architecture, so I’m a big fan of the defunct rail infrastructure reimagined into something green and walkable.

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Scotch – $20.0M

Denver-based Scotch provides point-of-sale and retail management software for liquor stores. Founded by Jake Bolling and Kevin Hodges in 2024, Scotch has now raised a total of $30M in total equity funding and is backed by First Round Capital, Lerer Hippeau, Toba Capital, and VMG Partners.

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Town – $60.1M

San Francisco-based Town develops an AI personal assistant that manages email, scheduling, and administrative tasks. Founded by Jean-Denis Greze and Tony Vincent in 2024, Town has now raised a total of $78.1M in total equity funding and is backed by Alt Capital, Andreessen Horowitz, Conviction, First Round Capital, and Forerunner.

Forage – $40.0M

San Francisco-based Forage provides payment technology that enables merchants to accept SNAP EBT and EBT Cash payments online and in stores. Founded by Justin Intal, Ofek Lavian, and Victor Esteban Fimbres in 2020, Forage has now raised a total of $62M in total equity funding and is backed by FJ Labs, Intuit Ventures, Long Journey Ventures, Mouro Capital, and NextLadder Ventures.

Axiom Space – $175.0M

Houston-based Axiom Space develops commercial space infrastructure, human spaceflight services, and orbital platforms. Founded by Kam Ghaffarian and Michael Suffredini in 2016, Axiom Space has now raised a total of $1B in total equity funding and is backed by MUFG Bank.

Findigs – $32.0M

New York-based Findigs provides rental screening and verification software for property managers and renters. Founded by Keith Gilvar and Steve Carroll in 2018, Findigs has now raised a total of $59M in total equity funding and is backed by Frontier Venture Capital, Nyca Partners, RPM Ventures, and Western Technology Investment.

Plot – $10.0M

New York-based Plot provides AI-powered social listening software that helps brands and marketers analyze video-driven consumer trends. Founded by Megan Duong and Phuoc Phan in 2022, Plot has now raised a total of $13M in total equity funding and is backed by ACME Capital, Mischief, Seven Seven Six, and XYZ Venture Capital.

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Cyera – $300.0M

New York-based Cyera provides an AI-native data security platform that helps organizations discover, classify, govern, and protect sensitive data. Founded by Tamar Bar-Ilan, Yonatan Itai, and Yotam Segev in 2021, Cyera has now raised a total of $2B in total equity funding and is backed by Accel, Coatue, Cyberstarts, Evolution Equity Partners, and Georgian.

Impulse Space – $500.0M

Redondo Beach-based Impulse Space develops spacecraft and in-space transportation systems for satellite and payload mobility. Founded by Tom Mueller in 2021, Impulse Space has now raised a total of $1B in total equity funding and is backed by 137 Ventures, Banner VC, Founders Fund, Linse Capital, and Lux Capital.

Sekai – $20.0M

Sunnyvale-based Sekai provides an AI-powered platform for creating, sharing, and interacting with no-code interactive content and applications. Founded by Ziang Zhang in 2023, Sekai has now raised a total of $29M in total equity funding and is backed by 359 Capital, 645 Ventures, A*, A16Z GAMES Speedrun, and Connect Ventures.

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AlleyWatch sat down with Kubera Health Founder and CEO Roja Garimella, MD to learn more about the business, its future plans, recent $6.5M seed round that brings total funding to $9.5M, and much, much more…

Who were your investors and how much did you raise?

We raised a $6.5M seed round, led by Upfront Ventures, with Company Ventures, Dria Ventures, and SemperVirens Venture Capital participating.

Tell us about the product or service that Kubera Health offers.

Kubera Health is the contract-to-payment system of record for American healthcare — contract and payment intelligence for providers and the organizations that serve them. We turn every payor-provider contract into structured rules that run against claims and financial data, so that payment issues can be audited and reconciled against the contract itself.

What inspired the start of Kubera Health?

I trained as a medical doctor and started my career on the clinical side, but I’d had a long-standing frustration with why the administrative side of healthcare is so hard. Working inside large enterprises like Humana and Commonwealth Care Alliance, I saw firsthand how difficult the operations around contracts and data really were — the hardest problems weren’t clinical, they were financial. Kubera exists to fix one of the biggest issues within healthcare: how care gets paid for and how expensive that process is.

How is Kubera Health different?

Most companies in this space work downstream — in the claim queue, the denial workflow, the billing staff. We work upstream, at the contract layer where the rules originate. Providers lose revenue because they don’t fully know what their contracts say, can’t model what they should be paid, and have no systematic way to tell when a payment deviates from contracted terms. By making those contract terms computable, measurable, and enforceable, we help prevent that leakage structurally rather than chasing it after the fact. We’re building infrastructure, not another workflow tool.

What market does Kubera Health target and how big is it?

U.S. healthcare spending is around $5 trillion a year, and roughly a quarter of that — close to $1 trillion — goes to administration rather than care. We’re focused on the financial layer inside that: the contracts, claims, and payments that move money between payors and providers, which alone runs about $200 billion a year across more than nine billion claims. It’s a massive market, and it’s still remarkably dominated by very old and disconnected technology.

What’s your business model?

We charge a subscription fee based on volume, scale, and complexity, and we’ve increasingly been moving into upside arrangements and shared-risk models alongside that.

How are you preparing for a potential economic slowdown?

We’re full steam ahead on growth right now. Healthcare generally fares well in challenging markets, and administrative spend has only continued to increase. As conditions get tougher and government funding to healthcare programs comes under pressure, hospitals and clinics feel every dollar more acutely — so we’re preparing to help more of them recoup the payments they’re owed and negotiate stronger contracts to weather harder economic times.

What was the funding process like?

We’d worked closely with most of these investors for over a year prior, so there was already a foundation of trust and a shared understanding of what we were building that made the process efficient.

What are the biggest challenges that you faced while raising capital?

Raising capital is always a distraction from the core business, and everything else keeps moving full steam ahead regardless, so the hardest part was keeping all the balls in the air at once. There’s also a real education curve: this is a complex, unglamorous corner of healthcare, and part of the work is helping investors understand why the contract layer is the right place to build.

What factors about your business led your investors to write the check?

We had strong pilot conversion and net revenue retention across our first batch of customers, and we’d proven we could get deep into sales processes with some of the largest healthcare enterprises in the country.

We had strong pilot conversion and net revenue retention across our first batch of customers, and we’d proven we could get deep into sales processes with some of the largest healthcare enterprises in the country.

What are the milestones you plan to achieve in the next six months?

We have several flagship feature releases coming over the next few months — including work in agentic revenue recovery that I’m especially excited about.

What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?

Build for your customers, and keep your team in the loop every step of the way. It sounds simple, but those two habits are what keep you honest and aligned when you don’t have a fresh injection of capital to paper over mistakes.

Where do you see the company going now over the near term?

We’re building toward becoming the system of record that healthcare payments actually run on. Near term, that means supporting more customers and variations of contracts/payment models.

What’s your favorite spring destination in and around the city?

Red Hook — best views in the city, great food, and so many fun places to explore.

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