Risa Labs, a health technology startup based in Palo Alto, has recently secured an $11.1 million Series A funding round to expand the deployment of its AI operating system in cancer clinics, health systems, and specialty pharmacies across the United States. The financing was co-led by Cencora Ventures and Optum Ventures, with participation from Oncology Ventures, Z21 Ventures, and John Simon through Ventureforgood. This round follows a $3.5 million seed raise announced last year to support early product development and initial customer deployments.
Founded in 2024 by Kshitij Jaggi and Kumar Shivang, Risa is focused on building an AI operating system for mission-critical healthcare workflows, starting with oncology. The founders aim to address the administrative complexity, payer rules, and staffing shortages that often lead to delays in patient access to cancer treatment. By connecting directly to electronic medical records, payer portals, and benefits systems, Risa’s AI-powered system manages patient access, benefits verification, and prior authorization efficiently. The software adapts to changes in payer rules and interfaces, reducing the need for manual rework by administrative staff.
According to Jaggi, Risa is not just developing a chatbot or a thin copilot but an AI operating layer capable of reading, reasoning, and acting across existing systems in cancer centers. The company has reported positive results from live deployments, including significant reductions in administrative staff time, a decrease in denials by up to 40%, and first-pass authorization rates approaching 98%. Authorizations that once took days are now processed within 24 hours, with some sites achieving turnaround times measured in hours.
Currently operational at eight oncology practices and with 15 more under contract, Risa’s system is processing thousands of cancer cases daily. With new customers expected to come onboard in the next year, Jaggi anticipates a sharp increase in case volume. The interest from venture arms of large healthcare organizations like Optum and Cencora reflects the scale of the administrative burden that Risa aims to address.
The company’s earlier seed round, led by Flipkart co-founder Binny Bansal in 2025, set the groundwork for focusing on reducing treatment delays through administrative automation. Jaggi emphasized that Risa’s system supports administrative and medical-necessity workflows while maintaining human supervision at key checkpoints, allowing customers to choose the level of autonomy they prefer.
With the new funding, Risa plans to expand its go-to-market team, deepen deployments within existing customers, and extend its platform into specialty pharmacy workflows. Jaggi reiterated the company’s focus on oncology for now, citing its complexity as a key area for innovation. Ultimately, Risa’s mission is grounded in improving the patient experience by reducing waiting times, uncertainty, and ensuring faster access to care.
