New funding will accelerate Plenful’s platform expansion to enhance operational efficiency and deepen adoption across top healthcare systems
Plenful, the leading AI workflow automation platform modernizing healthcare operations, announced a $50 million Series B funding round. The round is co-led by Mitchell Rales, co-founder of Danaher Corporation, who also joins Plenful’s board and Arena Holdings, with participation from Notable Capital, Bessemer Venture Partners, TQ Ventures, Susa/Kivu Ventures, and other leading investors. This brings Plenful’s total funding to $76 million and will accelerate product development and go-to-market efforts to meet growing demand across the healthcare ecosystem.
“Healthcare teams have long been under immense strain from the sheer volume and complexity of their work. The need for change has never been more urgent,” said Joy Liu, founder and CEO of Plenful. “Plenful was built by healthcare operators for healthcare operators, and as such, we deeply understand the mission-critical work these teams do every day. By partnering closely with our customers and automating workflows, we’re offering a better way for healthcare staff to work. One that improves compliance, drives revenue, saves time, and supports their teams and the patients they care for.”
Solving Healthcare’s $1 Trillion Admin Problem
The U.S. healthcare system spends nearly $1 trillion each year on administrative tasks — a burden that contributes to labor shortages, employee burnout, and a growing crisis in access to quality care. A Google Cloud/Harris Poll survey found that 81% of medical staff and 77% of claims staff say that administrative work contributes to burnout, with two-thirds of providers expressing serious concern over human error in these processes. Yet most healthcare organizations still rely on outdated systems, complicating workflows with siloed, messy data across multiple formats and touchpoints. Critical institutional knowledge often lives only in the heads of a few overburdened employees, creating additional risk and fragility in day-to-day operations.
Plenful’s platform automates these workflows using AI purpose-built for healthcare. It handles messy, disparate workflows across formats, systems, and departments, reducing errors and streamlining operations while providing real-time reporting and task management for healthcare staff. Leading healthcare organizations like Medical University of South Carolina (MUSC), Cencora, Renown Health, Shields Healthcare Group, and Samaritan Health use Plenful to decrease time and costs, drive compliance, and unlock new revenue.
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Expanding Across Use Cases and Markets
Plenful’s most widely adopted use cases include prior authorization, 340B compliance and missed opportunity auditing, and order and referral data entry. With this new funding, the company will expand its platform to address more unmet needs across healthcare, deepening its presence in the pharmacy, health systems, provider groups, and payor markets where it’s already seeing strong traction.
“Plenful is tackling some of healthcare’s toughest challenges with an AI platform that’s already driving meaningful, measurable results for their customers,” said board member and Danaher Corporation Co-Founder Mitchell Rales. “And what truly gets me excited is the team. Joy is a visionary leader with remarkable learning agility and deep healthcare expertise, supported by a team whose execution and creativity are exceptional.”
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“The healthcare market is ripe for transformation, and Plenful is positioned to lead that shift,” said Chelcie Taylor, investor at Notable. “Their ability to deliver immediate ROI and drive efficiency at scale gives them a significant edge as healthcare organizations increasingly turn to AI to solve entrenched administrative challenges.”
Trusted by Industry Leaders, Proven at Scale
Plenful has experienced over 4x year-over-year growth and is now trusted by more than 60 leading U.S. healthcare organizations, underscoring strong market demand for proven, AI-driven automation in healthcare.
“What could take a large team many hours only takes seconds with Plenful, and the reporting they provide is more accurate than our previous solution,” said Savannah Randolph, pharmacy services analyst at Samaritan Health Services. “We’ve reduced our time spent by 96%; it’s incredible. Plenful has enabled us to redeploy staff to higher-value tasks and operate more efficiently overall. And with their scalable platform, we’re excited to expand into other use cases to continue unlocking value.”
“Plenful’s team has been a true pleasure to work with,” shares Adam Porath, vice president of pharmacy at Renown Health. “They come from pharmacy operations themselves; they just get it. We’re expanding our use of the platform this year and looking forward to realizing even more operational efficiencies.”
“We couldn’t be more excited about what’s ahead,” Liu shares. “This funding allows us to invest deeply in our team as we scale, especially across machine learning, engineering, product, partnerships, and customer success. We’re building for the long term, and that starts with growing a world-class team to support our customers and deliver on our vision.”
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Source – PR Newswire
