Basalt Health has raised $20 million in Series A funding as roughly 14 million patients enter post-acute care—yet the placement process has failed to evolve.
New Enterprise Associates (NEA) led the investment round, with follow-on investment from existing investors Frist Cressey Ventures and 25m Health.
Founded in 2025, Basalt Health has raised approximately $24.5 million in funding to date and onboarded several clients for its platform, including Lifepoint Health, which operates a large network of community hospitals, rehabilitation facilities, and behavioral health centers in the United States.
Al Smith, Senior Vice President and Chief Information Officer of Lifepoint Health, said: “Basalt represents the kind of innovation healthcare needs right now: technology that creates measurable value while fitting naturally into existing clinical and operational workflows.” Their platform helps organizations identify opportunities sooner, streamline operations and patient access, and support better outcomes without increasing burden on frontline teams.”
Basalt Health said its platform reduced median processing time by 86% (8.5 minutes to 1.2 minutes) at Lifepoint Health, a leading diversified healthcare delivery network in the U.S.
With fresh funds, Basalt Health is also scaling to 62 ScionHealth hospitals by the end of 2026, where it will manage every incoming referral across a network of more than 6,000 practitioners.
Basalt Health says roughly 14 million patients enter post-acute care each year—yet the placement process has failed to evolve. The archaic process typically involves case managers faxing lengthy clinical packets to 6.6 facilities per placement, then waiting for the right bed to respond. The resulting delays and mismatches contribute to an estimated $17 billion in avoidable readmission costs annually.
“Case managers are still sending 70-page packets and waiting for responses, while patients remain stranded in hospital beds,” said Ben Hackett, Founder and CEO of Basalt Health. “Basalt turns that uncertainty into fast, defensible decisions. This funding gives us the power to transform one of healthcare’s most stubbornly inefficient systems.”
Basalt Health joins a roster of digital health startups that have attracted massive amounts of funding so far this year. More recently, Enzo Health, a provider of an AI-driven platform for home health and post-acute care providers, raised $20 million in a Series A funding round, bringing its funding to $26 million to date.
In another deal, Magicare AI (formerly Exponential), a developer of an agentic operating software system for post‑acute care providers, raised $3.6 million in a pre-seed funding round led by Mana Ventures.