The round was led by growth equity firm Catalyst Investors with participation from co-investor Ankona Capital and existing investors Menlo Ventures, Pelion Venture Partners and Lux Capital. Tyler Newton, Partner with Catalyst Investors, will join Rivet's Board of Directors.

Rivet is dedicated to promoting transparency throughout the healthcare billing process, from payer to provider to patient. Rivet's unique platform offers tools for Estimates, Underpayments and Denials, giving patients more transparency around the cost of care and providers the ability to hold payers accountable to their contracts. The company currently operates largely in outpatient facilities, but it aims to elevate the healthcare billing experience across all settings, regardless of size or specialty.