Parakeet Health has raised $10 million in an oversubscribed Series A funding round to expand its AI-powered patient engagement platform. The round was led by Canvas Ventures, with participation from Blank Space Ventures, StoryHouse Ventures and HMC INQ, bringing the company's total funding to $13 million. Parakeet says its annual recurring revenue has grown tenfold over the past year, with its technology now supporting more than 2,800 providers across 1,100 locations.
Parakeet's platform automates patient communications across phone, text, email and fax. Its AI agents can schedule, reschedule and cancel appointments, verify insurance eligibility and process referrals received by fax. The technology integrates with electronic health records and practice management systems and adapts to each organization's providers, locations, insurance requirements and scheduling rules.
The platform also supports proactive patient outreach. Healthcare organizations can automatically contact patients who miss appointments, fill openings created by cancellations and remind patients who are due for follow-up care. By automating these workflows, Parakeet aims to help providers use clinical capacity more efficiently while reducing administrative workloads for staff.
The company plans to use the funding to expand its team and technology, improve personalization and extend the platform into additional healthcare specialties and workflows. Parakeet is currently growing its presence across primary care, behavioral health, women's health and other outpatient specialties.
The investment comes as AI patient engagement companies increasingly expand beyond basic scheduling and communications into broader administrative automation. Parakeet is positioning its platform around measurable operational and financial outcomes, with its pricing model tied to verified improvements in customer performance.
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