Investment in artificial intelligence companies has soared, with healthcare AI companies raising $864 million in the second quarter of 2019, according to CB Insights.
Among them, healthcare startup Viz.ai, which is using AI to help medical professionals spot early signs of stroke. The company's platform has attracted interest from investors, and it recently scored $50 million in series B funding. The funding round was led by Greenoaks with participation from Threshold Ventures and CRV along with existing investors GV, formerly Google Ventures, and Kleiner Perkins.
Viz.ai uses deep learning algorithms to identify a suspected large vessel occlusion, a particularly disabling type of stroke, in a CT scan and alerts the stroke team specialist. By alerting the right doctor at the right time and synchronizing care, Viz.ai has the potential to significantly reduce the time to treatment and greatly increase a patient’s chances of a good outcome, according to the company.
Here's a snapshot of other health IT funding deals over $5 million in October:
- Emergency response data: RapidSOS, a startup whose software platform automatically transmits data from 9-1-1 callers to emergency responders, secured $25 million in new funding led by investment firm Energy Impact Partners in its series B funding round. The company closed the round with $55 million in funding including $30 million collected last year. The funding accelerates RapidSOS’ work partnering with thousands of public safety agencies, most major public safety software providers and connected device companies to transform emergency response and disaster management
- Remote medical documentation: Tech-enabled remote documentation company Augmedix uses natural-language-processing technology and remote medical documentation experts to help reduce the burden of medical documentation for physicians. The San Francisco-based company landed $19 million in series B funding that included investments from Redmile Group, McKesson Ventures, DCM Ventures, Wanxiang Healthcare Investments and others. Augmedix provides clinicians with hardware, smartphones or Google Glass to stream the clinic visit to a cloud-based platform. Fifteen national health systems, including Sutter Health, CommonSpirit Health and US Oncology, currently partner with Augmedix.
- Clinical trial technology: Healthcare technology company SignalPath raised an $18 million series B funding led by existing investors with a total raise of capital to date of $35 million. The company's platform addresses key pain points from study design to trial startup. The funding round supports the rapid growth of its network of leading community and academic health systems using the platform to manage their research portfolio. SignalPath supports over 2,500 trials across 250 sites and 3,000 active users.
- Patient engagement: Albuquerque-based Twistle landed $16 million in series A funding led by Health Enterprise Partners and MemorialCare Innovation Fund. The Seattle-based company develops a healthcare communication platform with automated workflows. Organizations deliver personalized care to patients in their homes by automating everything from routine communication to information gathering and education activities, saving time for care teams while improving outcomes. Patients can connect with care teams through multiple channels including text messaging, a mobile app and phone.
- Value-based care technology: Persivia offers an AI-driven value-based care solution for healthcare providers. The company closed a $15 million financing from Petrichor Healthcare Capital Management, completing its series C round. Persivia offers healthcare providers a comprehensive platform for managing multiple concurrent value-based care programs and data from dozens of sources. The Marlborough, Massachusetts-based company has grown from 65 customers at the end of 2015 to over 330 hospitals and provider groups on its platform.
- Early sepsis detection: Cytovale reeled in $15 million in financing to advance its technology enabling early detection of sepsis in the emergency department. The company raised $7.4 million in an extended series B financing co-led by existing investors Breakout Ventures and Blackhorn Ventures and received an award for up to $7.6 million from the Department of Health and Human Services' Biomedical Advanced Research and Development Authority. The company works to improve diagnostics using cell mechanics and machine learning.
- Digital mental health practice: Octave, a technology-based mental health practice, landed $11 million in a series A funding round led by Greycroft with participation from Obvious Ventures. The company opened its first San Francisco location with its second New York office opening in December. The new funding will allow Octave to continue to expand nationally, with additional locations planned for California and New York next year. Octave also announced a partnership with Anthem Blue Cross of California to serve patients as an in-network provider.
- Women's health and fertility: Serial entrepreneur Halle Tecco, founder and former CEO of digital health investment fund Rock Health, launched Natalist in August. The Charleston, South Carolina-based startup raised $5 million from a host of angel investors and venture capital firms including Rock Health, Evidation Health co-founder Christine Lemke, John Doerr of Kleiner Perkins and Goldman Sachs partner R. Martin Chavez, according to Forbes. The company curates and ships free FDA-cleared pregnancy and fertility tests as well as essential prenatal vitamins and educational literature.
And … just under the threshold:
- Behavioral health startup Sentio raised $4.5 million in seed funding led by Felicis Ventures with participation from Anthemis Exponential Ventures and SOSV. The San Francisco-based company is developing biomarkers and digital therapeutics for mental health and offers an emotion-sensing wearable and a connected support app. The latest investment, which brings the total raised to date to $6.3 million, will enable Sentio to expand access to its Feel program through partnerships with health plans, life insurance providers, employers and health systems.