SpendRule Raises $4 Million to Audit Hospital Vendor Bills
SpendRule raised $4 million in seed funding led by Mark Cuban's Radical Investments, according to TechStartups. Zeal Capital Partners also participated, bringing the Dallas based company's total funding to $6 million.
SpendRule uses AI to read commercial agreements, compare vendor invoices with negotiated terms, flag discrepancies and prepare credit requests. It also shows the relevant contract clause and calculation for each potential billing error.
The company says its software monitors $2.91 billion in annual contracted spending across 2,187 business relationships. That figure represents spending reviewed by the system, not confirmed overcharges or recovered money. Customers include OSF HealthCare, Kettering Health, MemorialCare and MUSC Health, while the new funding will support expansion into industries beyond healthcare.
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