Sunbound, a Washington, DC-based company building an AI-powered revenue operating system for senior living providers, has raised $24 million in Series A funding and acquired Richter Healthcare Consultants. The funding brings Sunbound’s total capital raised to $36 million.
The Series A round was led by TTV Capital, with participation from Bling Capital, Fika Ventures, Live Oak Bank, and Ziegler Linkage Fund. Sunbound plans to use the new investment to accelerate business growth and develop its products.
The funding and acquisition are important steps in Sunbound’s plan to help senior living and post-acute care providers manage their financial operations more efficiently.
Sunbound Acquires Richter Healthcare Consultants
Alongside its funding announcement, Sunbound confirmed that it has completed the acquisition of Richter Healthcare Consultants, a firm that has served senior living and post-acute care providers for more than 25 years.
Richter offers services including revenue cycle management, accounting, Medicaid eligibility, reimbursement support, clinical consulting, audit and compliance assistance, and electronic health record (EHR) implementation.
Jennifer Richter, CPA, the founder and CEO of Richter, will remain with the combined company. She will focus on industry partnerships and product strategy. The financial terms of the acquisition were not disclosed.
The acquisition combines Sunbound’s AI-powered software with Richter’s experience in the healthcare services industry. It is also expected to help Sunbound expand into skilled nursing, where billing and reimbursement processes can be particularly complex.
How Sunbound’s AI Revenue Operating System Works
Led by co-founder and CEO Manny Cominsky Sunbound offers software that helps manage revenue operations for living communities. Its platform connects admissions, private payments, revenue cycle management (RCM), and working capital processes.
The company combines automation with a team of revenue experts to help providers manage billing, reduce payment delays, and collect money more efficiently.
According to Sunbound, its platform helps providers identify potential claim denials before submission, verify residents’ payment eligibility during admissions, and automate payment operations. The company says its system achieves a 99% claims collection rate and 96% first-pass acceptance rate.
“Senior living operators spend significant time and effort dealing with manual and inefficient financial workflows,” said Manny Cominsky, Co-Founder and CEO of Sunbound. “The industry deserves a modern solution that simplifies payments for both senior living operators and their families. Our platform directly addresses the operational inefficiencies, financial underperformance, and cash flow issues that have plagued operators for years. By joining forces with Richter, a company with deep expertise in skilled nursing and post-acute care, we can transform revenue operations for even more care providers.”
Sunbound also reports that its private payment tools help communities save more than 40 hours per month by reducing manual payment follow-ups and billing work. These figures are company-reported and have not been independently verified.
Sunbound and Richter Target $3 Billion in Annualized Payment Volume
The combination brings together Sunbound’s technology and Richter’s long-standing expertise in senior care financial operations. The companies say they are on track to process $3 billion in annualized payment volume.
Richter’s experience covers skilled nursing, senior living, home health and hospice. Its services extend beyond billing to include accounting, reimbursement guidance, clinical and operational consulting, compliance support and EHR optimization.
By bringing these capabilities together, Sunbound aims to offer care providers one partner for managing revenue operations, rather than requiring them to coordinate several software vendors and outside service firms.
The companies also said existing clients will not experience service interruptions following the acquisition. Over time, customers are expected to gain access to each other’s offerings.
Why This Funding Matters for Senior Care
Senior living and post-acute care providers often face complicated billing processes, delayed reimbursements, payer requirements and administrative workloads. These challenges can affect cash flow and take staff time away from resident care.
“Our clients trust us with their most critical work, and that trust has always come from our team’s deep expertise in this industry,” said Jennifer Richter, CPA, Founder and CEO of Richter. “Partnering with Sunbound puts modern technology behind everything that our team already does well. Sunbound’s software handles the high-volume, repetitive tasks that have traditionally slowed things down, so our clients see faster results, and our team can focus on the work where their expertise makes the biggest difference.”
“Healthcare finance is incredibly complex, and most senior living and skilled nursing operators lack modern financial technology,” said Neil Kapur, Partner at TTV Capital. “Sunbound’s AI-powered revenue operating system brings structure and predictability to an industry that has long needed it, and the company’s rapid growth signals strong product-market fit. We’re proud to invest in Sunbound as the company embarks on a clear expansion path to bring intelligent payment operations to the broader senior living and skilled nursing market.”
Sunbound’s strategy mixes AI automation with expertise to solve these problems. The new funding can help improve its technology and expand its customer base while the Richter acquisition adds established industry knowledge and services.
The deal also gives Sunbound a stronger position to serve skilled nursing operators and other care providers with complex reimbursement needs.
As healthcare providers increasingly look for ways to automate administrative work, Sunbound is betting that combining software with experienced revenue specialists can make financial operations more efficient.
About Sunbound
Washington, DC-based Sunbound is a technology company that provides an AI-powered revenue operating system for senior living providers. Its platform supports admissions, private payments, revenue cycle management and working capital operations. The company was co-founded by Manny Cominsky who serves as CEO.
About Richter Healthcare Consultants
Richter Healthcare Consultants is a firm that helps healthcare providers with revenue cycle management, accounting and advisory services. It has been supporting living and post-acute care organizations for, over 2 five years. The services offered by Richter include managing revenue cycles handling accounting tasks checking Medicaid eligibility offering reimbursement advice providing audit and compliance help and assisting with electronic health record system implementation and improvement. After the acquisition Richter will work as part of Sunbound.
