About ABILITY
ABILITY is a company based in Minneapolis (United States) founded in 2000 was acquired by Inovalon in March 2018.. ABILITY has raised $32.73 million across 4 funding rounds from investors including Inovalon, Bain Capital Ventures and Lemhi Ventures. The company has 419 employees as of December 31, 2018. ABILITY has completed 7 acquisitions, including E- Health Data Solutions, G4 Health Systems and Ivans. ABILITY offers products and services including Provider Cloud, Claims Management Pro, Eligibility Verification, Pharmacy Surveillance, and Schedule Management. ABILITY operates in a competitive market with competitors including Leapstack, TriZetto, Connecture, PayMedix and Hella Health, among others.
- Headquarter Minneapolis, United States
- Employees 419 as on 31 Dec, 2018
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$32.73 M (USD)
in 4 rounds
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Latest Funding Round
$545 M (USD), Debt – Conventional
Dec 14, 2017
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Investors
Inovalon
& 3 more
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Employee Count
419
as on Dec 31, 2018
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Investments & Acquisitions
E- Health Data Solutions
& 6 more
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Acquired by
Inovalon
(Mar 07, 2018)
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Products & Services of ABILITY
ABILITY offers a comprehensive portfolio of products and services, including Provider Cloud, Claims Management Pro, Eligibility Verification, Pharmacy Surveillance, and Schedule Management. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for revenue cycle and care management tools.
Software for automating claims processing and reducing denials.
Tool for verifying insurance eligibility across payers.
System to prevent adverse drug events in pharmacies.
Software for staff scheduling and attendance tracking.
Funding Insights of ABILITY
ABILITY has successfully raised a total of $32.73M across 4 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $545 million completed in December 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Debt – Conventional — $545.0M
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First Round
First Round
(01 Jan 2007)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2017 | Amount | Debt – Conventional - ABILITY | Valuation |
investors |
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| Apr, 2012 | Amount | Series B - ABILITY | Valuation | Bain Capital Ventures | |
| Jun, 2011 | Amount | Series B - ABILITY | Valuation | Transformation Capital |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in ABILITY
ABILITY has secured backing from 4 investors, including venture fund investors. Prominent investors backing the company include Inovalon, Bain Capital Ventures and Lemhi Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital fund focused on investing in multiple sectors
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Founded Year | Domain | Location | |
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Venture capital investments are focused on healthcare system transformation.
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Founded Year | Domain | Location | |
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Healthcare startups are funded by this venture capital firm.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by ABILITY
ABILITY has strategically engaged in corporate development activities, having acquired 7 companies. Notable acquisitions include E- Health Data Solutions, G4 Health Systems and Ivans. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Data analytics platform is provided for healthcare organizations.
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2001 | ||||
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Analytics-based revenue-cycle management is offered for long-term care providers.
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2001 | ||||
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Provides revenue cycle management applications, API services, and SaaS solutions to the healthcare industry.
|
2000 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
|
2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - ABILITY
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ability Comparisons
Competitors of ABILITY
ABILITY operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Leapstack, TriZetto, Connecture, PayMedix and Hella Health, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
AI and big data-based risk & claim management solutions for the health insurance industry
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| domain | founded_year | HQ Location |
Software solutions for healthcare payers and providers are offered.
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| domain | founded_year | HQ Location |
Web-based solutions for health insurance sales and automation are delivered.
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| domain | founded_year | HQ Location |
Healthcare payment processing systems are provided for the insurance sector.
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| domain | founded_year | HQ Location |
Platform offering medicare health insurance plans
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Ability
Frequently Asked Questions about ABILITY
When was ABILITY founded?
ABILITY was founded in 2000 and raised its 1st funding round 7 years after it was founded.
Where is ABILITY located?
ABILITY is headquartered in Minneapolis, United States. It is registered at Minneapolis, Minnesota, United States.
Is ABILITY a funded company?
ABILITY is a funded company, having raised a total of $32.73M across 4 funding rounds to date.
How many employees does ABILITY have?
As of Dec 31, 2018, the latest employee count at ABILITY is 419.
What does ABILITY do?
ABILITY was founded in 2000 in Minneapolis, United States. Solutions for insurance claims and revenue cycle management are delivered to the insurance industry and healthcare providers. Financial clearance tools are offered to support revenue capture and risk reduction for providers and payers. Services include Medicare claims processing, remittance handling, performance benchmarking, and analytics to aid operational efficiency in the healthcare sector.
Who are the top competitors of ABILITY?
ABILITY's top competitors include Connecture, 4L Data Intelligence and TriZetto.
What products or services does ABILITY offer?
ABILITY offers Provider Cloud, Claims Management Pro, Eligibility Verification, Pharmacy Surveillance, and Schedule Management.
How many acquisitions has ABILITY made?
ABILITY has made 7 acquisitions, including E- Health Data Solutions, G4 Health Systems, and Ivans.
Who are ABILITY's investors?
ABILITY has 4 investors. Key investors include Inovalon, Bain Capital Ventures, Lemhi Ventures, and Transformation Capital.