Third Way Health Raises $15M Series A to Expand AI Healthcare Operations

Third Way Health has raised $15 million in a Series A funding round led by Health Velocity Capital, announced in a press release. The investment brings the company's total funding to $22.5 million and will support commercial expansion, operational scaling, and further development of its AI capabilities.

The Los Angeles-based company provides AI-enabled front-office services for healthcare organizations, including scheduling and prior authorization. Its hybrid human and AI operating model currently supports practices serving more than five million patients annually. Third Way Health reports that clients have achieved up to 40 percent reductions in administrative costs and shorter patient phone wait times.

The new funding will be used to grow the company’s sales and implementation teams, expand its operational footprint, and advance its automation roadmap. Health Velocity Capital partner Kristin Torres Mowat led the round, citing the company’s integrated approach to combining human operations with targeted automation to improve reliability and patient access.

This Series A follows a prior strategic investment from Astrana Health and MedPOINT Management in 2025, marking Third Way Health’s first publicly announced funding round.