Penelope Health Secures €87 Million to Build Real-Time Healthcare Policy Infrastructure

London-based Penelope Health has secured a €87 million ($100 million) funding commitment to expand its real-time provider and payer policy intelligence platform and build new infrastructure for healthcare payments and clinical rules. The commitment comes from Thoreau, alongside existing backers Bertelsmann Healthcare Investments (BHI), Twine Ventures, and Seedcamp.

Founded in 2025, Penelope Health is tackling one of the healthcare industry's persistent challenges: keeping up with constantly changing insurance requirements. Its platform converts complex payer policies, coding rules, and medical necessity requirements into structured, real-time data that healthcare companies can access through a single connection.

The company was co-founded by Dr. Sohum Patel, CEO, and Mattijs De Paepe, CTO. Patel previously worked as a doctor across inpatient and outpatient settings within the UK's NHS, including the Royal Free London and University College London hospital systems. De Paepe previously spent nearly four years at Via Transportation, where he developed machine-learning systems for transit products.

Penelope's platform provides instant access to payer medical coverage policies across the majority of insured Americans. It currently covers more than 200 million Americans, with information spanning over 15,000 procedures and drug codes. Healthcare providers, revenue-cycle-management companies, and healthtech businesses can use the platform to check coverage requirements, compare payer policies, improve coding and documentation, and support prior-authorisation and claims workflows.

The new capital will support the development of products designed to reduce administrative work around payer requirements. Penelope is also partnering with Thoreau to create a shared infrastructure layer for real-time payments and clinical rules, positioning its policy intelligence as an underlying data layer for increasingly automated healthcare systems.

With healthcare organisations increasingly adopting automation and AI, Penelope aims to make payer rules more accessible, structured, and continuously updated, helping other healthcare technologies work with reliable policy information rather than relying on fragmented manual research.