About ABILITY
ABILITY is a Financial Services company based in Minneapolis (United States) founded in 2000, and was acquired by Inovalon in March 2018. Insurance claims and revenue cycle management solutions insurance industry and healthcare provider. 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. ABILITY has completed 6 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. Its focus areas include FinTech, Insurance IT, Insurance Policy Solutions and Insurance Software Suite. Its competitors include TriZetto, Connecture and PayMedix; 3 of its 3 listed competitors have raised funding.
Company details
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.
- Headquarters Minneapolis, United States
- Employees 419
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website abilitynetwork.com
- Social LinkedIn X Facebook
- Acquired by Inovalon (Mar 2018)
- Total Equity Funding$32.73M (USD)
in 4 rounds
- Latest Funding Round$545M (USD), Debt – Conventional
Dec 2017
- InvestorsInovalon
& 3 more
- Employee Count419
- Investments & AcquisitionsE- Health Data Solutions
& 5 more
- Acquired byInovalon
(Mar 2018)
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.
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 $32.73M
- Total Rounds 4
- Last Round Debt – Conventional — $545M
- First Round $5M
(Jan 2007)
- Investors Count 3
All 4 funding rounds of ABILITY with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2017 | $545M | Debt – Conventional | – | – | – |
| Apr 2012 | $27.73M | Series B | – | Bain Capital Ventures | |
| Jun 2011 | Series B | – | Transformation Capital | – | |
| Jan 2007 | $5M | Series A | – | – |
4 investors in total: 4 institutional.
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.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund focused on investing in multiple sectors | baincapitalventures.com | Boston, United States | ||
Venture capital investments are focused on healthcare system transformation. | 2006 | lemhiventures.com | ||
Healthcare startups are funded by this venture capital firm. | transformcap.com | Boston, United States | ||
Cloud-based data analytics are delivered to healthcare providers and payers. | 1998 | inovalon.com | Bowie, United States |
Investor details for ABILITY
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Investments & Acquisitions by ABILITY
ABILITY has strategically engaged in corporate development activities, having acquired 6 companies. Notable acquisitions include E- Health Data Solutions, G4 Health Systems and Ivans.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Data analytics platform is provided for healthcare organizations. | ehealthdatasolutions.com | Cleveland, United States | 2001 | Apr 2016 | •••• | |
Provides revenue cycle management applications, API services, and SaaS solutions to the healthcare industry. | g4healthsystems.com | Tulsa, United States | 2000 | Feb 2016 | •••• | |
Analytics solutions are provided for home health and hospice providers. | ocshomecare.com | Minneapolis, United States | 1997 | Dec 2015 | •••• | |
Analytics solutions for home health organizations | ocsys.com | Seattle, United States | 1997 | Dec 2015 | •••• | |
EDI solutions for healthcare claims and transactions are provided. | mdon-line.com | Parsippany Troy Hills, United States | 1999 | Oct 2014 | •••• | |
Provider of digital insurance software that connects carriers, MGAs, and agencies | ivans.com | Milwaukee, United States | 1983 | May 2013 | •••• |
Complete acquisition details for ABILITY
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Timeline of ABILITY
11 dated milestones of ABILITY across 18 years, from founding to its latest funding, stage changes and deals.
- Founded ABILITY is founded.
- Funding First funding round of $5.0M.
- Acquisition Acquires Ivans.
- Acquisition Acquires MD On-Line.
- Acquisition Acquires Outcome Concept Systems.
- Acquisition Acquires OCS HomeCare.
- Acquisition Acquires G4 Health Systems.
- Acquisition Acquires E- Health Data Solutions.
- Acquisition Acquires eHealth Data Solutions.
- Funding Latest funding round, Debt – Conventional, of $545.0M.
- Exit Acquired by Inovalon.
Competitors of ABILITY
ABILITY has 3 listed competitors in our database, 3 of them funded. They include TriZetto, Connecture and PayMedix.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| trizetto.com | 1997 | Greenwood Village, United States | $10.5M | Software solutions for healthcare payers and providers are offered. | ||
| connecture.com | 1997 | Brookfield, United States | $70.16M | 99 | Web-based solutions for health insurance sales and automation are delivered. | |
| paymedix.com | 2021 | Milwaukee, United States | $25M | Healthcare payment processing systems are provided for the insurance sector. |
Detailed competitors of ABILITY
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- Full competitor set
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Web traffic of ABILITY
Websites that share an audience with ABILITY (abilitynetwork.com).
Websites whose visitors overlap most with ABILITY. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| healthcaresynergy.com | 100% | #3,912,231 | View details | ||
myabilitynetwork.com | myabilitynetwork.com | 86% | #5,233,679 | – | |
visionshare.org | visionshare.org | 67% | #6,329,249 | – |
Top companies in Insurance Technology & Support Services
3 companies that operate in the same segment as ABILITY (Insurance Technology & Support Services) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Cloud-based platform for property and casualty insurance is provided. | 2001 | San Mateo, California, United States | USD 1.48 B | 226 | ||
Claims administration, loss adjusting, and benefits management services are provided. | 1969 | Memphis, Tennessee, United States | USD 2.63 M | |||
Online property and casualty insurance is provided for businesses. | 2017 | San Francisco, California, United States | USD 800 M | 699 |
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Frequently Asked Questions about ABILITY
ABILITY was founded in 2000 and raised its 1st funding round 7 years after it was founded.
ABILITY is headquartered in Minneapolis, United States. It is registered at Minneapolis, Minnesota, United States.
ABILITY is a funded company, having raised a total of $32.73M across 4 funding rounds to date. The company's 1st funding round was a Series A of $5M, raised on Jan 2007.
ABILITY has 419 employees.
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.
ABILITY's top competitors include Connecture, TriZetto and PayMedix.
ABILITY offers Provider Cloud, Claims Management Pro, Eligibility Verification, Pharmacy Surveillance, and Schedule Management.
ABILITY has made 6 acquisitions, including E- Health Data Solutions, G4 Health Systems, and Ivans.
ABILITY has 4 investors. Key investors include Inovalon, Bain Capital Ventures, Lemhi Ventures, and Transformation Capital.
Yes. ABILITY was acquired by Inovalon in March 2018.