Led by Ten Coves Capital, the deal marks a pivotal moment in the company’s growth trajectory
New Haven, CT (Sep. 15, 2025) – Inbox Health today announced it has secured $20 million in growth equity funding and debt, led by Ten Coves Capital with participation from existing investors CT Innovations, Commerce Ventures, Fairview Capital, I2BF, Healthy Ventures, and Vertical Venture Partners. This latest round brings Inbox Health’s total funding to $55 million, further accelerating its mission to modernize patient billing through intelligent automation.
The patient billing and support technology leader is benefiting from strong industry demand for solutions that improve patient confidence and transparency in the billing process. The new funding will primarily support continued investment in AI research and development, as Inbox Health doubles down on key product capabilities and scales to serve a rapidly expanding market.
“As our company grows, we’re focused on designing the experience patients want during the billing process—and that goes well beyond communication channels,” said Blake Walker, CEO of Inbox Health. “This growth capital allows us to study the countless interactions between patients and AI agents, optimizing for both emotional intelligence and efficiency to resolve issues faster. The market is ready for a transformation that reduces unpaid bills and makes the entire process feel more like a partnership and less like a burden for patients.”
This funding comes at a time of rapid growth for Inbox Health. In the past three years, Inbox Health’s revenue has grown by more than 230%, a testament to its success in the provider market and expanded integrations with large organizations like CHE Behavioral Health Services. In the same time period, Inbox Health has increased its number of healthcare organizations served by 68% and has grown its patient population by 85%, signaling a desire for both practices and consumers to prioritize patient billing.
Part of the capital infusion is a debt financing component from Silicon Valley Bank, a division of First Citizens Bank. Lead investor Ten Coves Capital has a proven track record in funding high growth companies reimagining the payment system, from financial services to healthcare industries.
“As patient financial responsibility grows and administrative teams shrink, deeply embedded AI will be essential,” said Steven Piaker, Managing Partner at Ten Coves Capital. “AI is revolutionizing administrative support and that extends to healthcare bills. Inbox Health has always been a leader in creating more efficient and positive patient experiences, and this growth investment will accelerate Inbox’s delivery of best-in-class patient communications and payment solutions.”
About Inbox Health
Inbox Health directly addresses one of the fastest-growing problems in healthcare—the challenge of patient A/R. Built for billing teams, Inbox Health automates patient billing and patient payments and modernizes the patient support experience. Inbox Health improves patient engagement by providing clear medical bills immediately after service, choice of payment methods and communication channels, and fast, empathetic AI-powered support through the phone and live chat. By improving the patient experience, billers see an increase in profitability, cash flow, and collection speeds. With Inbox Health, billing teams report a 60% increase in collection speeds in the first 60 days. Inbox Health provides billing teams an automated, streamlined platform that saves time, reduces paper statement costs, and results in fewer patient phone calls. Inbox Health currently serves over 3,500 healthcare practices and more than 2.8 million patients a year. Headquartered in New Haven, Conn., Inbox Health was recently named to the Inc. 5000 list of fastest-growing private companies in America. More information can be found at www.inboxhealth.com.
About Ten Coves Capital
Ten Coves Capital backs high growth B2B software companies across the FinTech ecosystem where its capital, network, and decades of experience can help accelerate growth and value creation. Investing across payments, banking & lending, asset management, capital markets, and insurance & benefits (among other segments), the Ten Coves team has helped scale 40+ companies that are solving industry pain points, enabling workflows, and providing critical infrastructure to the largest financial institutions down to SMBs. For more information, visit tencoves.com.