Dec 07, 2021
Cardinality.ai expands its offerings to include claims management and deepens it's expertise in payments & disbursements
MCLEAN, Va., Dec. 7, 2021 /PRNewswire/ -- Cardinality.ai, a data technology group helping government agencies achieve better outcomes through artificial intelligence (AI) solutions has acquired ClearCycle, based in Redmond WA, a proven Claims and Disbursement Management technology provider since 1983, for the Healthcare and Insurance industries, to expand its suite of SaaS solutions.
"The acquisition of ClearCycle will accelerate our mission of enabling government workers to deliver citizen services effectively. ClearCycle's depth of knowledge in claims, payments, disbursements, and compliance reporting with their track record of serving its clients in regulated industries will expedite the deployment of our ready-built solutions" said Thiag Loganathan, CEO of Cardinality.ai. "In addition, we welcome the ClearCycle team, who will improve our ability to serve US Government agency clients and increase the scale of our US-based client success team."
"Joining hands with the Cardinality team, we are excited about the possibilities of coupling our 20+ years of knowledge and subject matter expertise with Cardinality's modern software, built with configurable modules, cloud-based tech, a powerful AI assistant, and an intuitive interface, powered by a low-code platform" said Ravi Nithyanandham, Chief Technology Officer of ClearCycle.
With decades of experience in complex healthcare claims, payments, disbursements, translation to different currencies with international funding requirements, and regulatory reporting, the ClearCycle acquisition improves Cardinality features, such as compliance tracking, Medicare and Medicaid reporting while ensuring payments are disbursed quickly, appropriately, and traced easily.
Virginia Partners Bank served as the financing partner for the acquisition. "We are excited to continue to partner with and support Cardinality with its acquisition of ClearCycle" said Adam Nalls, Chief Operating Officer of Virginia Partners Bank.
Cardinality helps government agencies achieve better social and economic outcomes through intuitive, AI cloud-based solutions. Founded in 2017 by four serial entrepreneurs and a team of data specialists, the company has one goal: impact a billion lives. And it's already on its way—Cardinality solutions are being used by multiple agencies in the states of Indiana and Maryland. Their suite of solutions is built specifically for workforce, health, and human services leveraging it's modern AI Case Management, CRM, ERP, RedBird AI and Low-Code platform, so that agencies can modernize existing systems up to 50% faster than other low-code platforms and 200% faster than custom or unproven solutions.
Cardinality has been recognized as a GovTech 100 company in 2020 and 2021, and as the SaaSBOOMi vertical SaaS startup of 2020. For more information, please visit www.cardinality.ai.
Virginia Partners Bank is a subsidiary of Partners Bancorp, a multi-bank holding company. Virginia Partners Bank is a full-service bank with branches in Virginia and Maryland.