Sunbound buys Richter after $24 million Series A

Sunbound has acquired Richter Healthcare Consultants, adding an outsourced finance and advisory team to its AI-powered senior-living revenue platform as it pushes further into skilled nursing, according to an Oct. 15 company announcement.

Richter has worked exclusively with post-acute and senior-living operators for more than 25 years. Its services include revenue cycle management, accounting, Medicaid eligibility and reimbursement consulting. Sunbound already pairs its software with revenue specialists; the acquisition adds expertise serving skilled nursing, home health and hospice providers alongside senior living.

The model Sunbound described splits the work between software and people. Its platform checks Medicare, Medicaid and managed-care claims for denial risks before submission, while billing specialists handle exceptions through payment and posting. Its private-payment service combines automated payment operations with a support team answering families’ billing questions.

Richter told clients in a separate announcement that they would retain the same team, day-to-day contacts and scope of work, with access to Sunbound’s platform added over time. The business will operate as Richter, powered by Sunbound. Founder and CEO Jennifer Richter will stay in an executive leadership role focused on industry partnerships and product strategy.

The deal follows Sunbound’s recently closed $24 million Series A, led by TTV Capital, which brought total funding to $36 million. Sunbound said it plans to use the capital for business growth and product development. The combined businesses are on track to process $3 billion in annualized payment volume, according to the company.