Parakeet Health Raises $10 Million Series A Following 10x Growth and Rapid Enterprise Adoption

Round will expand a unified AI platform spanning every patient touchpoint as Parakeet now serves six of the nation's 10 largest dermatology groups

SAN FRANCISCO, Oct. 1, 2026 /PRNewswire/ -- Parakeet Health, a healthcare AI company transforming patient access, today announced an oversubscribed $10 million Series A led by Canvas Ventures, with participation from Blank Space Ventures, StoryHouse Ventures and HMC INQ. The round brings Parakeet's total funding to $13 million.

The funding follows 10x annual recurring revenue growth over the past year, driven by measurable financial returns for customers. Parakeet helps healthcare organizations convert more patient demand into booked care, improve provider utilization and recover revenue lost across disconnected access workflows. The company has achieved that growth while maintaining a disciplined approach to capital.

Parakeet brings the ways patients communicate and complete actions throughout their care journey into one platform. It manages inbound calls, proactive outreach, fax processing and web scheduling across voice, SMS, email, web and fax. Because those capabilities operate together, a referral received by fax can move into patient outreach, scheduling and follow-up within the same workflow, with each action reflected in one performance dashboard. Healthcare organizations can replace multiple point solutions while giving patients a more consistent experience across every touchpoint.

Parakeet outperforms both legacy systems and the latest generation of healthcare voice AI. The platform emphasizes precision outbound patient communications, creating incremental revenue and capturing revenue leakage for its customers. 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.

"Patient engagement determines whether demand becomes care, whether clinical capacity is used and whether a healthcare organization grows," said Jung Park, CEO and co-founder of Parakeet Health. "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 EHR and practice-management systems and adapts to the requirements of each organization. It can navigate nuances among providers, procedures, locations, insurance, and scheduling rules, identify available clinical capacity and connect the appropriate patient with it. Parakeet is also advancing personalization across the platform. Each interaction can inform how, where and when to engage a patient next based on communication preferences, prior responses and care needs. That continuity is designed to increase the number of interactions completed without staff involvement, while making engagement more relevant to each patient.

Parakeet now works with six of the 10 largest dermatology groups in the country, supporting more than 2,800 providers across 1,100+ locations. The company is now rapidly expanding across other specialty and outpatient markets, including primary care, behavioral health, women's health, eyecare, physical therapy, gastroenterology, and radiology. It also recently announced a national collaboration with Qualderm Partners, which supports nearly 160 practices across 17 states. Compared to leading patient-engagement vendors, Parakeet rebooks no-show patients at up to 4.9x higher rates and rebooks canceled patients at up to 4.2x higher rates across its deployments.

"Parakeet helps us get our Schweiger Dermatology and Schweiger Allergy & Asthma patients appointments when they need them," said Julie Gessin, Chief Operating Officer at Schweiger Dermatology Group.

Parakeet's operating model extends beyond just the technology. The company works with healthcare leadership teams to model potential EBITDA impact, develop the business case, establish an evaluation framework and prepare for operational change. Dedicated customer-success and engineering teams then configure the platform around the organization's workflows, enabling enterprise deployments in four to six weeks with limited demands on internal staff. The company also uses a performance-based model tied to verified results, including appointments booked, interactions resolved and revenue generated. That structure directly connects Parakeet's economics to the outcomes its customers are trying to achieve.

Parakeet's growth comes as healthcare organizations face increasing pressure to improve patient access without adding staff and costs at the same rate. Nearly three in 10 medical groups reported longer new-patient wait times in 2026, even as practices added providers, expanded hours and made other changes to increase access. AI now plays some role in patient visits at 83% of medical groups, up from 71% a year earlier. As adoption grows, healthcare organizations are increasingly evaluating AI based on its ability to improve access, increase capacity and produce measurable financial returns rather than automate an isolated task.

"The Parakeet team brings together deep AI expertise with a proven ability to win major healthcare customers and deliver measurable ROI," said Rebecca Lynn, Co-Founder and Managing Director at Canvas Ventures. "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 will use the Series A financing to expand its technology and team, advance its personalization capabilities, support continued growth with enterprise healthcare organizations and extend the platform across additional specialties and patient-engagement workflows.

About Parakeet Health

Parakeet Health is a conversational agentic platform that automates burdensome patient-access workflows, helping connect patients with booked appointments, reduce administrative burden and support continuity of care. Its platform, powered by large language models (LLMs), supports various patient-experience use cases by managing both inbound and outbound communications at scale.

Founded by an experienced team of healthcare and technology leaders from some of the most innovative companies, Parakeet is backed by Canvas Ventures, Blank Space Ventures, CoFound Partners, StoryHouse Ventures, HMC INQ and many notable individual investors. Visit www.parakeethealth.com for more information.

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SOURCE Parakeet Health