Based: Paducah, Kentucky
Year founded: 2022
Founder(s)/top executives: Amber Kirkpatrick, CEO; Steve Reid, co-founder; Wilfredo Gumaru, co-founder
Capital raised to date: $100,000
Key investors: Keyhorse Capital
Number of employees: 3
Brief company description: AuthoFi is on a mission to revolutionize the patient prior authorization process, making it faster, more efficient and less stressful for patients and providers alike. AuthoFi reimagines the patient prior authorization journey with our robust AI-powered process that validates eligibility, prior authorization and clinical criteria; assists scheduling and aligns coding with approved authorizations — all while ensuring patient communication and engagement. AuthoFi is a dynamic and forward-thinking health tech company that leverages emerging technology and tried-and-true best practices to improve outcomes.
What are some major milestones in the company’s history?
- Pre-seed capital raised
- Successful implementation at our beta client
- Winner of 2023 West Kentucky Innovation Challenge
What is your company working on right now? Adding clients, raising capital and additional development.
What’s on the horizon for your company in 2024? Additional generative AI development and implementation, [working on] strategic partnerships and a seed round.
Why grow your company in/from Kentucky? After considering several states, it became obvious that Kentucky is an ideal environment for AuthoFi. Kentucky boasts a strategic geographical location, providing easy access to major markets. The state's business-friendly policies and low operating costs really helped when making the decision to set up shop. Moreover, Kentucky's skilled workforce and strong work ethic ensure that we can recruit and retain talented professionals crucial to the success of my business. The state's commitment to fostering innovation and technology, coupled with its supportive infrastructure and transportation networks, further convinced me that Kentucky offers the ideal ecosystem for the expansion of AuthoFi.
Give us one bold prediction in 2024 for startups, technology or venture capital/fundraising. AI will continue to lead in tech. Venture capital will be even more difficult for early-stage startups to acquire, BUT I bet we a lot more mergers and acquisitions by some of these larger health tech organizations that benefited from the huge capital invested in 2020-21.
