This morning voice-enabled digital assistant Suki scored $20 million Series B funding. The new infusion of cash was led by Flare Capital Partners with participation from Breyer Capital, Epsilon Health, First Round Capital and Venrock. This news comes roughly two years after the startup raked in its first $20 million in Series A financing.
As part of the funding announcement, Suki revealed that Flare Capital Partners' cofounder and general partner Bill Geary will be taking as seat on the company's board of directors.
WHAT THEY DO
The company came onto the digital health stage in 2018. The Redwood, CA-based startup pitches its AI-powered system as a way for providers to cut down on paperwork. The platform employs natural language processing in order to take notes during patient visits and gather relevant notes from the EHR.
In practice, doctors can speak into their notes and the system will listen, document and integrate with the EHR. Doctors can then sign off on the notes.
"Suki's natural language processing empowers physicians to more efficiently create detailed records, and its artificial intelligence contextualizes this clinical and billing data for whoever may need it, including clinician or billing staff," Geary said in a statement.
WHAT IT'S FOR
The company plans to use the new funds to expand its partnerships. It also plans on building new AI capabilities and new features to "streamline documentation, coding, billing, and other administrative tasks."
In September its competitor Robin Healthcare announced an $11.5 million Series A round. Like Suki, the company bills itself as a way for doctors to cut down on paperwork and uses voice enabled AI to help write clinical notes.
Another company to mention is Notable, which also uses voice technology to help providers manage workloads. In 2018, it launched an AI-powered smartwatch for doctors that will automatically link to the EHR.
ON THE RECORD
"It's clear that physician burnout caused by documentation and administrative burden is a crisis in medicine, which is why we've seen such enthusiastic adoption of our technology to date and will continue this momentum with the support of our investors," Punit Soni, founder and CEO of Suki, said in a statement. "Suki not only delivers a better physician experience, but also supports high-quality, coordinated care and improved coding and billing through its accurate, detailed medical notes."