Insight Partners leads $55m Series B for AI chart review firm Charta Health

Charta Health, a San Francisco company whose AI reviews medical charts for billing accuracy, has raised a $55 million Series B led by Insight Partners, it said on 10 November 2026¹. Madrona, Bain Capital Ventures and South Park Commons, all existing backers, took part along with QuantumLight¹. The round takes Charta's total funding to $85 million and is its third raise in under two years¹.

The round and the business

Charta says revenue grew 10x over the past 12 months, from both health plans and provider organisations¹. Named provider customers include American Family Care, Grow Therapy and Pediatric Associates Family of Companies¹. The release gives no valuation or absolute revenue figure.

The money funds AI research and the formal launch of two product lines, Charta for Providers and Charta for Payers, which share a single AI engine¹. On the provider side, the software checks every chart before a claim goes out against coding guidelines, payer rules and the organisation's own clinical protocols, and shows its findings for a person to approve inside the electronic health record¹. Charta says the series B lets it take this offering into new specialties¹.

Charta for Payers, launched alongside the round, was built with what the company calls one of the largest US health insurers, which it does not name¹. It bundles six products for health plans:

• retrospective HCC coding
• AI-automated second-pass coding
• a smart coding platform
• prospective risk adjustment intelligence
• an HCC validation and audit workflow
• HEDIS and quality care gap detection¹

These are aimed at insurers in government-paid programmes, with Medicare Advantage and ACA Marketplace plans named as the focus for revenue integrity and compliance work¹.

The pitch to investors

Charta's argument is that claims disputes come from each side reviewing the same records with different tools and standards. It cites a 2025 study estimating that claims adjudication cost US hospitals and health systems more than $25 billion in 2023, of which nearly $18 billion was potentially wasted on denials and appeals¹. Chief executive Justin Liu said payers and providers "should agree on the chart before a claim goes out, not fight about it after"¹. Jeff Horing, co-founder and managing director at Insight Partners, said the opportunity lies in getting the underlying record "right before a claim is submitted"¹.

Liu and chief technology officer Scott Morris previously worked at Rockset, which the release describes as OpenAI's first product acquisition¹.

What it means for the market

The deal adds to investor appetite for AI in US revenue cycle management, and Charta is betting on a less common position: selling to both sides of the claim. Most vendors in the space pick providers or payers. If one engine can be trusted by both, the product becomes a shared reference point rather than a weapon in the denials contest, which would be harder for single-sided rivals to copy¹.

That is also the risk. Health plans and providers have opposing financial interests in coding, and Charta's claim of neutrality will be tested as its payer business grows, particularly in risk adjustment, where the payer products sit¹. Regulatory attention to waste and fraud in government programmes, which the company itself flags, cuts both ways for any vendor working on HCC coding¹.

For buyers, the practical change is that pre-submission chart review at full volume is being sold as standard rather than sample audits. For investors, the figures to watch are the undisclosed valuation and whether 10x growth holds as the payer line scales¹.