AI-enabled medical knowledge abstraction firm Carta Healthcare scored $18.25 million in Sequence B1 financing led by UPMC Enterprises.
New traders MemorialCare Innovation Fund, Tampa Basic Hospital Ventures and Rex Well being Ventures (UNC Well being’s funding fund) participated within the spherical, alongside current traders Memorial Hermann Well being System, Paramark Ventures, Storm Ventures, Mass Basic Brigham Ventures, CU Healthcare Innovation Fund and Frist Cressey Ventures.
WHAT IT DOES
Carta Healthcare gives an AI-powered knowledge abstraction platform for structured and unstructured knowledge with analytics to assist medical groups discover sufferers for medical trials, generate insights to enhance effectivity and automate registry knowledge assortment.
The San Francisco-based firm will use the funds to develop its buyer base, notably within the life sciences sector.
“This funding additional validates our mission to harness the facility of knowledge, making certain that healthcare groups and researchers have the data they want, after they want it,” Brent Dover, CEO of Carta Healthcare, informed MobiHealthNews in an e-mail.
“With the help of main well being programs, we will proceed increasing our deep medical experience, scaling our operations and optimizing AI-driven knowledge abstraction to ship real-time, high-quality insights. This funding permits us to speed up innovation, enhance effectivity and in the end help higher affected person outcomes.”
MARKET SNAPSHOT
In December, Carta Healthcare acquired Realyze Intelligence, a portfolio firm of UPMC Enterprises that makes use of AI to match sufferers to medical trials.
In 2023, the corporate introduced the ultimate closing of its $25 million Sequence B funding spherical. In 2021, the corporate scored $17.3 million in Sequence A funding.
Different digital well being organizations within the knowledge abstraction area embody AI-enabled chart assessment firm Layer Health, which raised $21 million in Series A funding earlier this yr.
One other firm within the knowledge abstraction market, DigitalOwl makes use of pure language processing to research and summarize EHRs. Final yr, the corporate scored a $12 million funding from insurance coverage big Reinsurance Group of America (RGA), and in 2022, it raised $20 million in Series A funding.
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