Series B Announcement: Fueling More Customer Impact

A note from our Founder & CEO, Joy Liu‍

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Today marks a major milestone in Plenful’s journey: we’re proud to share that we’ve raised a $50M Series B, bringing our total funding to $76 million.

But this isn’t just about a funding round. It’s about the momentum we’re seeing every day as we work with healthcare operators facing real challenges across the healthcare system.

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Built by Operators, For Operators

Plenful was born out of frustration that transformed into deep conviction, hope, and optimism. As a former healthcare operator, I saw firsthand how administrative inefficiencies weighed down the system, costing time, revenue, and most importantly, people. Burnout isn’t a buzzword; it’s the daily reality for so many healthcare workers offering critical services amongst broken infrastructure.

From day one, our mission has been to alleviate that burden. To give healthcare teams their time, focus, and sanity back through high-impact AI automation—AI that works with them, not around them.

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A Year of Transformational Growth

The past year has been one of extraordinary growth and learning. Our team has stayed laser-focused on solving real problems and that’s translated into incredible momentum:

• We’ve scaled our customer base, building solutions to empower over 60 customers, including leading healthcare organizations like Medical University of South Carolina (MUSC), Cencora, Renown Health, Shields Healthcare Group, and Samaritan Health.
• We’ve grown our team significantly across functions, each person bringing passion, empathy, and a relentless drive to build something meaningful.
• We’ve opened our second HQ office in New York City as an investment in our growing East Coast team and incredible customer base.

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We’ve also stayed grounded. Growth is important. But growing with confidence, efficiency, and intentionality is what enables us to build an enduring company that lasts.

The impact we’re seeing is real. Our customers are saving thousands of hours. They're achieving audit coverage that used to take dozens of FTEs. They're capturing revenue that was once left on the table. The healthcare staff we support is moving faster, with more accuracy, and most importantly, with less manual burden.

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Powering a Smarter, Faster, More Human Healthcare System

The U.S. healthcare system spends nearly $1 trillion each year on administrative tasks. This isn’t just inefficient—it’s unsustainable. Outdated systems, messy data, and siloed teams all add up to stress, burnout, and missed opportunities for care.

Plenful’s platform addresses these issues.

By automating high-volume, critical workflows like prior authorizations, 340B compliance audits, order and referral data entry, and other tedious manual tasks that burden teams, we help organizations redeploy their staff to the work that matters most.

Whether it’s a pharmacy tech processing prior authorizations 4x faster, or a 340B team expanding audit coverage from <5% spot check to 100% coverage, the results have been motivating. And we’re just getting started.

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Looking Forward

With this new capital, we’re doubling down on the things that matter so we can transform healthcare operations from the inside out:

• Product innovation: We’re investing deeply in machine learning, engineering, and platform capabilities to support more use cases and meet customers where they need the most support. 
• Customer impact: We’re expanding our support teams to ensure every partner receives the support and dedicated expertise they need to unlock real value. 
• Team growth: We’re actively hiring - if you’re mission-driven and excited to solve hard, meaningful problems in healthcare, check out our open roles.

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Thank You

To our customers: Thank you for your trust, your partnership, and your feedback. We’re better every day because of you.

To our investors and Board: Thank you for believing in our vision and backing us with the support and resources to execute. 

This round is co-led by Mitchell Rales, Co-founder of Danaher Corporation, who also joins our board, and Arena Holdings alongside Notable Capital, Bessemer Venture Partners, TQ Ventures, Susa/Kivu Ventures, and other leading investors. I’m deeply grateful for the confidence they’ve placed in our vision, our team, and the impact we’re creating in healthcare.

To the Plenful team: You are the heartbeat of this company. I am endlessly inspired by your grit, empathy, and brilliance.

We’ve come so far, but the road ahead is even more exciting.

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Let’s move healthcare forward, together.

Joy

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