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Madison-based veda, with Roots in D.C. and Radio Astronomy, Wants to Automate 1 Billion Hours of Healthcare Administrative Work

The company is seeing rapid growth, doubling the size of its downtown Madison office in recent months. They’re hoping to have around 90 employees by the end of the year, up from about 50 right now. “It is a really meaningful part of our story that we’ve been able to build in Wisconsin through the pandemic,” veda CEO and co-founder Meghan Gaffney recently told Wisconsin Health News. “I’m incredibly grateful for the talent and pool of talent that’s been developed in Madison and the investment in higher education and the university system in Wisconsin. It is the backbone of our story.”

Madison.com

Using AI to cut health care costs, Madison’s Veda draws $45M in new investments

It’s among the biggest funding raises for Madison tech companies this year, just months after consumer rewards platform Fetch Rewards announced that its latest round had raised $210 million. Veda was founded in 2015 by astronomer Bob Lindner and “political entrepreneur” Meghan Gaffney. Working on public policy in Washington, D.C., at the time the Affordable Care Act was passed, Gaffney was surrounded by talk of the high costs of the U.S. health care system. What wasn’t being talked about, she said, was the way administrative procedures drive up those costs.