All Access

Health Tech Deals

Health Tech Deals Alerts

Alert

Standard

Health Tech Deals Thought Bubble

Thought Bubble

mustard

BFD Expert Voices - Health Tech Deals

BFD Expert Voices

Reveleer, a health insurance risk management SaaS company, raised $65 million in debt financing, CEO Jay Ackerman tells Aaron.

Why it matters: The ongoing shift to value-based care is being supported by tech solutions that help payers and providers better manage risk.

Zoom in: Hercules Capital led the round for Glendale, Calif.-based Reveleer, which has been backed by Oak HC/FT since 2022.

By the numbers: Reveleer finished 2023 with revenue north of $50 million and hopes to double that figure this year, per Ackerman.

What's next: "We would like to do one to two acquisitions this year," Ackerman says. "If we don't get one done, then something's not working."

Reveleer will seek buys similar to the ones it's already made, which include risk adjustment tech platforms Dynamic Healthcare Systems and MDPortals.

Ackerman says he's had more than 70 conversations with various prospective targets.

Yes, but: "We are not a roll-up strategy," Ackerman maintains. "We have a well-defined view of what we want an interconnected solution set to look like."

"We are committed to driving a holistic expansion strategy encompassing organic and inorganic approaches," says Oak HC/FT partner Andrew Adams.

How it works: Reveleer is designed to help health plans manage and adjust for risk.

Leveraging machine learning, the software-as-a-service platform reviews and analyzes medical records to help manage enrollment, provider outreach, data retrieval, reporting and submissions, among other tasks.

Catch up quick: The company has raised more than $100 million to date, per PitchBook.

Zoom out: According to Ackerman, there are no exit plans anytime soon.

"We have no intentions to sell to a strategic," he says. "We have a clear strategy, a seasoned team, and are excited to execute on it independently."

Reveleer rakes in $65M debt financing for future M&A

Illustration of four and a half out of five red cross symbols shaded in, indicating a positive rating.

Health tech deals

Reveleer, a health insurance risk management SaaS company, raised $65 million in debt financing, CEO Jay Ackerman tells Aaron.Why it matters: The ongoing shift to value-based care is being <a class="gtmContentClick" data-vars-link-text="supported by tech" data-vars-click-url="https://link.axios.com/click/34477136.38/aHR0cHM6Ly93d3cubWVkaWNhbGVjb25vbWljcy5jb20vdmlldy9ob3ctdGVjaG5vbG9neS1pcy1zcGVlZGluZy10aGUtc2hpZnQtdG8tdmFsdWUtYmFzZWQtY2FyZT91dG1fc291cmNlPW5ld3NsZXR0ZXImdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249c2VuZHRvX3Byb25ld3NsZXR0ZXJ0ZXN0JnN0cmVhbT10b3A/63d7efa24889932dcb08ba1cBb4fb777c" data-vars-content-id="7492cdba-5c62-4465-8f72-0106d265de05" data-vars-headline="Reveleer rakes in $65M debt financing for future M&amp;A" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://link.axios.com/click/34477136.38/aHR0cHM6Ly93d3cubWVkaWNhbGVjb25vbWljcy5jb20vdmlldy9ob3ctdGVjaG5vbG9neS1pcy1zcGVlZGluZy10aGUtc2hpZnQtdG8tdmFsdWUtYmFzZWQtY2FyZT91dG1fc291cmNlPW5ld3NsZXR0ZXImdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249c2VuZHRvX3Byb25ld3NsZXR0ZXJ0ZXN0JnN0cmVhbT10b3A/63d7efa24889932dcb08ba1cBb4fb777c" target="_self">supported by tech</a> solutions that help payers and providers better manage risk.

topics

politics-policy

epstein-files

donald-trump

2026-midterm-elections

immigration

behind-the-curtain

race-and-equity

technology

privacy-tech-regulation

automation-and-ai

tiktok-news

big-tech

social-media

cybersecurity

economy

social-security

inflation

tariffs

federal-reserve

jobs

transportation

business

stock-market-news

retail-news

crypto

media

elon-musk

dealmaking

health

rfk-jr

drug-prices

axios-explains-abortion

public-health

world

israel

axios-explains-ukraine

iran

russia

china

energy-climate

nuclear-energy

climate-energy-policy

climate-change

extreme-weather

alternative-energy

electric-vehicles

science

emerging-tech

biomedicine

newsletters

charlotte

boulder

detroit

kansas-city

columbus

austin

dallas

atlanta

washington-dc

nw-arkansas

chicago

indianapolis

nashville

richmond

colorado-springs

houston

san-francisco

seattle

boston

des-moines

salt-lake-city

philadelphia

denver

phoenix

new-orleans

miami

twin-cities

raleigh

san-antonio

portland

san-diego

tampa-bay

cleveland

huntsville

pittsburgh

axios-local

axios-pro

axios-live

the-axios-show

Reveleer rakes in $65M debt financing for future M&A

What to read next