Readily secures $11M series A to continue building out AI regulatory compliance platform

AI compliance platform Readily has secured $11 million in Series A funding to further develop its enterprise oversight platform. The investment was led by Define Ventures, with participation from Y Combinator and the California Health Care Foundation Innovation Fund. The platform connects regulatory requirements with policies, assigns actions, and links supporting evidence to minimize manual research and review processes.

CEO and co-founder Edward Tiong explained his initial struggle selling medical coding software to health plans, as they would frequently cancel meetings citing recent audits or new rules. This led Tiong to research the growing $1 trillion government program running on 10,000 requirements that change 700 times a year, while healthcare plans relied on binders and spreadsheets to stay afloat. Tiong found that nobody had created a solution for this problem, which presented an opportunity.

Readily's platform aims to address this gap by analyzing new CMS rules against existing policies and contracts in hours, identifying gaps and action items for teams. The AI system then tracks the completion of work and maintains proof for auditors, allowing compliance officers to make the final decisions. This division of labor is what Readily believes in and what its customers have trusted.

The company's healthcare work covers over 25 million individuals across 46 states, with revenue growing tenfold. One notable client is L.A. Care, the largest publicly operated health plan in the nation. L.A. Care uses Readily to streamline administrative compliance work, freeing staff for higher-value compliance activities that benefit members. Tiong expects the company's impact to expand nationwide as healthcare organizations continue to grapple with the evolving regulatory environment.