SpendRule Emerges from Stealth with $2M AI Funding to Revolutionize Hospital Spending Tracking

SpendRule, an innovative AI platform, has emerged from stealth mode after raising $2 million to help hospitals precisely track and manage their spending.

The seed funding round was led by Abundant Venture Partners, with participation from MemorialCare Innovation Fund and Zeal Capital Partners.

SpendRule Founders' Proven Track Record

Co-founders Chris Heckler, CEO, and Joseph Akintolayo, CTO, are serial entrepreneurs who previously sold their healthcare and fintech startups.

AI-Driven Solution for Healthcare Overspending

SpendRule integrates seamlessly with hospital ERP systems, contract management tools, and accounts payable workflows to validate invoices against negotiated contracts in real-time.

The platform specifically targets non-barcoded purchases like maintenance, janitorial services, laundry, and translation, areas prone to costly discrepancies.

By automating what was once a manual, periodic audit process, SpendRule flags issues before payments are made, ensuring hospitals pay only agreed amounts.

Early adopters such as Kettering Health, MemorialCare, and MUSC Health are already leveraging the technology for better financial control.

In an industry facing razor-thin margins, SpendRule's impact could save healthcare systems millions annually by curbing widespread overspending.

Founded last summer after the founders completed their non-compete periods, the company operated in stealth while building its AI infrastructure and securing initial customers.

Looking ahead, the fresh capital will fuel team expansion and further AI enhancements to support scaling operations.

“Our goal is to build a more resilient hospital system,” said CTO Joseph Akintolayo, emphasizing data connectivity for smarter decisions.