Fintech startup uses AI and Machine Learning to accelerate payments to providers, easing financial strain caused by long insurer reimbursement cycles

Cylerity, a healthcare fintech company that helps providers access capital faster, today announced it has raised $4 million in an oversubscribed equity round and established a debt facility with up to $24 million in available capacity from First Business Bank. The round was led by HealthX Ventures, with participation from C2 Ventures, Upstream Ventures, Wisconsin Investment Partners, and Tundra Angels.

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Cylerity - Madison-based team

Healthcare providers often wait 45 to 120 days for payment after delivering care—an inefficiency that drives cash-flow shortages, payroll stress, and deferred technology investments. Cylerity’s platform uses AI-enabled anomaly detection and machine learning valuation models to predict when claims will be paid and how much will be reimbursed, allowing funds to be advanced within 24 hours of claim submission.

“Providers shouldn’t have to wait months to get paid for care they’ve already delivered,” said Ryan Wheeler, founder and CEO of Cylerity. “By valuing receivables in real time, we give practices the financial predictability they need to keep operations running smoothly and patients cared for without disruption.”

The announcement comes as small and mid-sized healthcare organizations face mounting financial pressure. Margins remain thin, staffing costs are high, and delayed reimbursements have become a persistent burden. By connecting directly with banks, clearinghouses, and electronic medical record (EMR) systems, Cylerity transforms claims data into a trusted, underwritable asset class—turning what was once administrative lag into working capital.

“Cylerity is tackling one of healthcare’s biggest pain points—payment delays—by bridging the gap between care delivery and reimbursement,” said Mark Bakken, Managing Partner at HealthX Ventures. “We’ve seen firsthand how their platform brings stability to providers and helps them stay focused on patients instead of paperwork by allowing them to get paid within a few days instead of potentially months.”

While payment solutions on the consumer side, inside and outside healthcare—such as 'buy now, pay later' fintech players—are prevalent and mainstream, providing affordable, readily accessible capital to the provider side is a relatively unique business proposition and a need that Cylerity is filling.

For early adopters like Inspire Health Alliance, the impact has been immediate. “During the pandemic, we struggled to cover expanding payroll and keep up with diagnostic supply costs while serving clients and waiting on reimbursements,” said Ricardo Salas, founder and CEO of Inspire Health Alliance. “Cylerity changed that. They gave us access to affordable capital when we needed it most—and ultimately, we became investors ourselves because we believe in what they’re building.”

With this new funding, Cylerity plans to expand its engineering and data science teams and scale its partnerships with both healthcare and financial institutions nationwide.

“Healthcare finance hasn’t kept up with the digital age,” Wheeler added. “We’re changing that by making liquidity accessible, predictable, and fast—for everyone from independent practices to growing care platforms.”

About Cylerity

Cylerity is a Madison-based healthcare fintech company unlocking liquidity for providers through AI-driven valuation and anomaly detection. By integrating directly with EMRs, claims data, and bank feeds, Cylerity advances payments within 24 hours of claim submission—helping providers operate with stability and confidence. Cylerity graduated from Creative Destruction Labs, a top 10 global accelerator.

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“Healthcare finance hasn’t kept up with the digital age. We’re changing that by making liquidity accessible, predictable, and fast—for everyone from independent practices to growing care platforms.” – Ryan Wheeler, Cylerity co-founder & CEO