Procode Raises $10M Series A

Procode Platforms, an AI-powered medical billing and revenue cycle management company serving private practice surgeons, announced a $10 million Series A funding round led by Velocity. The funding brings Procode Platforms's total venture funding to $14 million and will be used to fund two additional acquisitions of surgical billing companies, following its earlier acquisition of The Auctus Group, which serves over 350 plastic surgery and dermatology providers. Procode Platforms also published a peer-reviewed study in Plastic & Reconstructive Surgery Global Open, the journal of the American Society of Plastic Surgeons, demonstrating that its fine-tuned hybrid LLM achieved 86.7% overall accuracy in CPT coding, outperforming human auditors (42.5%) and general-purpose LLMs such as OpenAI GPT-5 (35.8%), Alphabet Inc. Gemini 2.5 Pro, and Anthropic Claude Sonnet 4.5. The company plans to expand into all surgical specialties and ambulatory surgical center billing.