Monday, October 21st, 2024
Suki, a startup focused on creating artificial intelligence (AI) assistants for the healthcare industry, has secured $70 million in a Series D funding round. This new round of investments, which was led by firms Hedosophia, Venrock, and March Capital, boosts Suki’s total investments to $165 million. While the California-based startup has not disclosed its current valuation, estimates suggest it could be around $500 million.
Clinician burnout remains a significant issue in the healthcare industry, with over half of doctors attributing the problem largely to administrative overload. Founded in 2017 by former Google and Flipkart executive Punit Soni, Suki aims to alleviate the administrative burden on healthcare providers through its AI tools. Suki’s AI-driven assistants present a potential solution to the administrative overload problem by automating these tasks, thus enabling clinicians to dedicate more time and effort to patient care. Representatives of the company say that they have already established partnerships with over 300 health systems, such as St. Mary’s Healthcare in New York.
The new funding will enable Suki to accelerate its product development and further develop its AI capabilities in a rapidly growing market, which includes competitors like Microsoft Nuance, whose Dragon Medical One is the industry leader in clinical documentation and voice recognition, and Abridge, which has raised $150 million to advance its medical AI technology.
Author: Alexa Guerra, 2024-2025 Articling Student
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