This morning voice-powered healthcare company Notable announced that it scored $13.5 million in Series A funding in a round led by F-Prime Capital Partners and Oak HC/FT with participation from Greylock Partners and Maverick Ventures. This latest funding brings the company’s total financing to $19.3 million, according to Crunchbase.
This news comes just months after Notable launched its latest product, a voice-powered artificial intelligence wearable for doctors. The platform combines AI and voice recognition technology to capture information from a doctor’s visit. It can pick up on dictations and orders, and can recommend the appropriate billing codes. Then the data from the visit is automatically entered into the EHR using secure robotic processing automation.
“Notable Health was founded with the mission of enriching every physician-patient interaction by eliminating the drudgery of administrative tasks and improving data quality. Through the use of continually-learning AI, voice recognition, and wearables we're empowering physicians to be more productive and improve patient outcomes,” Pranay Kapadia, cofounder and CEO, said in a statement. “We are thrilled to partner with some of the industry’s leading digital health investors as we continue to expand our product development and accelerate hiring across the company. We feel by addressing the traditional charting methods physicians currently use in their EHRs, Notable Health is in a unique position to help physicians operate more efficiently, see more patients, and help the industry continue to move to a more outcomes-based model.”
The company said that it plans to use the new money to fund the expansion of its AI platform. The platform’s AI technology learns doctors' behaviors and can, in turn, help with billing and coding.
“Notable Health is bringing innovative and powerful technology solutions, including AI, wearables, and voice interfaces, to address problems and challenges our physicians face daily,” Annie Lamont, managing partner of Oak HC/FT, who will be joining as a board observer, said in a statement. “We are thrilled to be helping Notable Health continue to grow and deliver a seamless, truly hands-free solution to this ever-important set of health care professionals.”
Voice-powered AI physician assistants are on the rise. In May Robin Healthcare, another voice-enabled AI device designed to help doctors and clinicians write clinical notes, emerged from stealth mode. Additionally, voice-enabled doctor assistant Suki raised $20 million in the spring.