With the boom in virtual care, Andor Health is seeing rapid growth as its technology platform supports remote patient care.
Andor Health's ThinkAndor platform uses artificial intelligence to provide support for functions such as virtual clinical visits.
The Orlando, Florida-based company just landed an investment from Microsoft's venture arm to help expand into new markets. Microsoft's M12 venture fund led Andor Health's series A fundraising round with an undisclosed investment.
Microsoft's venture arm was the only investor in the fundraising round and it is the only fundraising round the company is planning to pursue, Andor Health executives said.
“I am proud that Andor chose M12 to lead their series A round. Their ML-powered virtual patient care platform is already demonstrating positive ROI for their customers, mitigating appointment drop-off and saving physicians time during patient encounters,” said Nagraj Kashyap, Microsoft corporate vice president and global head of M12, in a statement.
"While the global pandemic has accelerated the pace of change, virtual health interactions and transactions are here to stay. Andor Health’s capabilities are critical in the new normal," Kashyap said.
M12 invests in software companies mostly in the series A through C funding stages, with a focus on applied artificial intelligence, business applications, infrastructure, security, and vanguard technologies.
Founded in 2018, Andor Health uses AI and machine learning to help configure the pre- and post-visit patient experience, while the AI virtual assistant delivers relevant clinical content from the electronic health record (EHR) in the virtual health session.
The company's ThinkAndor technology improves the delivery of virtual care in a number of unique ways, including securely bringing patient and clinical context from source systems, like the EHR, directly into virtual visits and enabling natural language processing for voice dictated notes and recommending tasks to be pushed into the EHR.
The platform also enables an AI/bot-driven configuration of virtual visits, helps to manage and configure a virtual waiting room, and enables post-visit triggers and notifications to clinicians and care team members, according to the company.
The funding round comes on the heels of Andor Health's partnership with the National Institutes of Health (NIH) Clinical Center in Bethesda, Maryland, to use its ThinkAndor mobile platform to improve overall clinical research team collaboration and communication.
The NIH facility will use the technology to push critical signals from EHRs and patient engagement systems to healthcare workers, such as delivering real-time notifications about COVID-19 screenings and emergency notifications to doctors and nurses.
Raj Toleti, CEO of Andor Health, said M12's investment is not only a validation of ThinkAndor’s place serving the present needs of virtual health, but it also ensures an expansion of success in new markets.
The funds will be used for accelerating sales and marketing by expanding into new markets outside the U.S. and to invest in enhanced research and development engineering, Toleti said.