Friendly Health Technologies Inc.

Founded in 2019 by Natasha Alexeeva, and based in San Francisco, US, Friendly Health Technologies Inc. , doing business as Friendly focuses on machine-learning solutions for the insurance sector. In November 2024, Friendly Health Technologies Inc. raised USD 1.

25 million in venture funding from various investors. Friendly Health Technologies Inc. specializes in machine-learning technologies tailored for the insurance industry, primarily focusing on the automated digitization and processing of complex medical and financial documents. Their core offerings include a robotic cognition platform that efficiently digitizes documents, summarizes medical histories and automates various insurance workflows.

This platform excels in extracting structured and unstructured data from multiple sources, such as workers’ compensation claims, disability assessments, and critical illness benefits.   Friendly Health Technologies operates under a subscription-based revenue model, engaging clients in long-term partnerships to utilize their proprietary technologies. These partnerships involve comprehensive service agreements allowing insurance companies to access Friendly’s digitization and data processing capabilities as part of their workflow. The pricing structure reflects the scale of document processing, with clients charged based on the volume of data processed rather than fixed fees, ensuring that they only pay for the services they use.

  Following the recent funding round on November 8, 2024, where Friendly Health Technologies Inc. raised USD 1. 25 million, the company plans to enhance its product offerings and expand into new geographic regions. Upcoming products are being designed to further automate insurance workflows.

The company aims to enter the European market, specifically targeting the UK and Germany by the end of 2025, utilizing the recent funding to support product development and marketing efforts necessary for this expansion.