Aviacode Raises $16M From Frontier Capital

This capital, combined with strategic support from Frontier, gives us the additional resources we need to quickly and strategically expand these much needed solutions so our clients can focus on what’s really important, namely their patients.

Salt Lake-based Aviacode has raised $16 million in a growth investment from Frontier Capital.

“The dramatic change to ICD-10 (International Classification of Diseases, Revision 10), with its more than 100,000 new medical codes, has proven cumbersome for many physicians and other medical professionals as they try to meet the impending deadlines,” Lane Monson, CEO of Aviacode, said in a statement. “This capital, combined with strategic support from Frontier, gives us the additional resources we need to quickly and strategically expand these much needed solutions so our clients can focus on what’s really important, namely their patients.”

Aviacode specializes in technology-enabled medical coding services, giving all who desire reliable, fast, and cost-effective medical coding. Frontier Capital specializes in investments focused on software and technology-enabled business service companies. It’s basically a match made in heaven.

“Aviacode is a perfect example of the type of company in which Frontier Capital invests: a high growth software-as-a-service platform with a strong leadership team in a large and growing industry,” Scott Hock, Frontier Capital principal, said in a statement.

Published 8/21/2015