Healthcare AI company Parakeet Health has raised an oversubscribed $10 million Series A financing round led by Canvas Ventures.
Blank Space Ventures, StoryHouse Ventures and HMC INQ also participated.
The financing brings Parakeet Health's total funding to $13 million.
According to the company, the investment follows a tenfold increase in annual recurring revenue over the previous year, driven by adoption of its patient-access technology by healthcare organisations.
Parakeet's platform is designed to help healthcare providers convert patient demand into booked care, improve provider utilisation and recover revenue that can otherwise be lost across disconnected patient-access workflows.
The platform brings multiple forms of patient communication and administrative activity into one system.
It manages inbound calls, proactive outreach, fax processing and web scheduling across voice, SMS, email, web and fax.
By integrating these functions, Parakeet said a referral received by fax can progress through patient outreach, scheduling and follow-up within the same workflow, with activity captured within a single performance dashboard.
The company argues that this allows healthcare organisations to consolidate multiple point solutions while providing patients with a more consistent experience across different communication channels.
Parakeet also said its platform focuses on outbound patient communications intended to generate incremental revenue and address revenue leakage.
According to the company, a head-to-head pilot found that Parakeet's inbound phone agent achieved 2.3 times the resolution rate of an established AI voice vendor.
Jung Park, CEO and co-founder of Parakeet Health, said:
“Patient engagement determines whether demand becomes care, whether clinical capacity is used and whether a healthcare organization grows.
“After years of operating and scaling healthcare organizations, I saw how often that value was lost across disconnected workflows, systems and vendors. We built Parakeet to connect the entire journey and produce a financial result leadership can measure. We have applied that same operator discipline to our own business, growing quickly while using capital efficiently.”
The platform integrates with existing electronic health record and practice-management systems and is designed to adapt to the requirements of individual healthcare organisations.
It can account for differences between providers, procedures, locations, insurance arrangements and scheduling rules, while identifying available clinical capacity and connecting patients with it.
Parakeet is also developing greater personalisation across its platform.
The company said interactions can inform how, where and when a patient should next be engaged based on factors including communication preferences, previous responses and care needs.
Parakeet now works with six of the ten largest dermatology groups in the United States, according to the company, supporting more than 2,800 providers across more than 1,100 locations.
It is also expanding across other specialty and outpatient markets, including primary care, behavioural health, women's health, eyecare, physical therapy, gastroenterology and radiology.
Parakeet recently announced a national collaboration with Qualderm Partners, which supports nearly 160 practices across 17 US states.
The company said that, compared with leading patient-engagement vendors, its platform rebooks no-show patients at rates of up to 4.9 times higher and cancelled patients at rates of up to 4.2 times higher across its deployments.
Julie Gessin, Chief Operating Officer at Schweiger Dermatology Group, said:
“Parakeet helps us get our Schweiger Dermatology and Schweiger Allergy & Asthma patients appointments when they need them.”
Parakeet's operating model also includes working with healthcare leadership teams to model potential EBITDA impact, develop business cases, establish evaluation frameworks and prepare for operational change.
Dedicated customer-success and engineering teams then configure the platform around each organisation's workflows.
The company said this can enable enterprise deployments within four to six weeks while limiting demands on customers' internal staff.
Parakeet also operates a performance-based model tied to verified results, including appointments booked, interactions resolved and revenue generated.
The company said its growth comes as healthcare organisations face increasing pressure to improve patient access without increasing staffing and costs at the same rate.
According to the announcement, nearly three in ten medical groups reported longer new-patient waiting times in 2026 despite practices adding providers, expanding hours and making other changes intended to increase access.
It also cited figures indicating that AI now plays some role in patient visits at 83% of medical groups, compared with 71% a year earlier.
Rebecca Lynn, Co-Founder and Managing Director at Canvas Ventures, said:
“The Parakeet team brings together deep AI expertise with a proven ability to win major healthcare customers and deliver measurable ROI.
“They're helping some of the country's largest specialty groups book more appointments, lower costs and make it easier for patients to access care. We believe the future of patient engagement is one connected, AI-driven experience across every channel. Not a collection of disconnected tools.
“Parakeet is delivering that today, with clear financial returns for providers and a seamless experience for patients. And they're just getting started.”
Parakeet plans to use the Series A financing to expand its technology and team, advance personalisation capabilities, support continued growth among enterprise healthcare organisations and extend the platform across additional specialties and patient-engagement workflows.
About Parakeet Health
Parakeet Health is a healthcare technology company developing a conversational agentic platform for patient-access workflows.
Its platform uses large language models to support inbound and outbound patient communications, scheduling and other patient-experience processes.
The company is backed by investors including Canvas Ventures, Blank Space Ventures, CoFound Partners, StoryHouse Ventures and HMC INQ.
Source: Parakeet Health