At Fiat Ventures, we recognize that we wouldn’t be able to do what we do without the incredible founders we back. Our capital helps seed the idea, but it’s truly the founders' tenacity, creativity and grit that bring these visions to life. We’re grateful to be a small part of their stories.
We’re fortunate to work closely with founders beyond just providing an investment. We also offer hands-on consulting, operating support and a deep network of advisors from the market’s leading growth consultancy, Fiat Growth and our marketplace of 200+ advisors, Fiat Advisors.
This month we’re shining the spotlight on one of our fastest growing portfolio companies who have built a novel solution at the intersection of healthcare and fintech, one of the fastest growing sub-verticals of financial innovation.
Introducing Brellium
Brellium helps medical clinics automate their chart review utilizing generative AI, decreasing their quality assurance costs by 98%.
Their technology is able to review and audit 100% of those charts including custom clinical and payer requirements. This helps drastically reduce both errors and manual time needed for these reviews auditing at a 13.3x faster rate than traditional methods.
The US healthcare system spends $23.5B per year validating medical records. US healthcare payers and providers also spend ~$496 billion on billing and insurance-related (BIR) costs annually, an excess of $248 billion due to administrative complexities.
With Brellium, that cost decreases by 98% and accuracy increases substantially. Which results in more time, resources, and data allocated towards improving care, instead of the administrative burden supporting it.
Brellium is building a solution in a $25B clinical compliance & diagnostic automation market, across both payors and providers, focusing initially on Autism, Behavioral Health, Home Health, and Hospice. Initial customers include Grow Therapy, Headspace, Action Behavior Centers, and Graham Healthcare Group.
Fiat Ventures first invested in Brellium in their Seed financing round, and have been working closely with the team as they’ve navigated pivots and prepared for their upcoming Series A fundraise.
Why We Invested In Brellium
When we invest we look for what we call the “three T’s”; team, total addressable market (TAM) and initial traction. The most critical factor, by a long shot, are the founders who are able to bring these visions to life.
Zach Rosen, Brellium’s Co-Founder & CEO, is an incredible example of excellent founder-market-fit, deep industry expertise, and a passion and grit to bring his vision to life.
Zach is also joined by his two Co-Founders Henry Kasa (CTO) and Alex Le-Tu (Engineering Lead) who have known each other for years since meeting at UC Berkeley. Collectively, the founders previously built healthcare startups from 0-$8mm in revenue, taught Computer Science at UC Berkeley, and built products at Amazon.
The three Co-Founders aren’t the only team with extensive backgrounds either. Six of the eleven full time teammates met at UC Berkeley and lived together prior to working together. Today, the team is in person together five days a week at their office close to Madison Square Park in New York.
The team’s success isn’t just limited to professional experiences however, Zach is driven by personal experiences with the inefficiencies of the healthcare system in the US.
Zach shares that “in college, I had hard experiences with medical misdiagnosis that caused billing issues, and ultimately ended in thousands of dollars in medical debt. When I dug in, it was clear the issues stemmed from a lack of measurement and education.
We started Brellium to give provider groups an instant, accurate way to measure and improve quality—making sure what happened to me doesn't happen to others in the future.”
The team’s hard work has resulted in some exciting results including a rapidly increasing ARR from $0 just 10 months to 7 figures. They’ve also signed some good quality initial customers including Grow Therapy, Headspace, Action Behavior Centers, and Graham Healthcare Group.
Keeping Track of Brellium
The Brellium team is currently raising a Series A financing round with the goal of expanding their current solution to 700+ additional provider groups and payors. If you’re an investor that’s interested in learning more about the team and solution they’re building, reach out to zach@brellium.com.
If you’re a payor or provider that’s looking at better ways in managing your clinical chart review, you can book a demo via this link.
You can keep track of the great work via the company’s LinkedIn.
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