Penelope Health has raised $100.0M to keep pulling back the curtain on how US health insurers decide what they'll pay for. The company sells API access to real-time medical policies - including medical necessity criteria - across major payers and plans, pitching that access as a fix for the information asymmetry it calls a root cause of inefficiency in the market.
Thoreau, BHI - Bertelsmann Healthcare Investments, Twine Ventures and Seedcamp are backing the round. Penelope Health says the money will go toward building out its team as it works to cut administrative waste in healthcare.

















