Nabla, the Paris-based company that provides a medical AI assistant, has raised a $70m Series C to build AI agents for doctors as it continues to gain traction in the US.
It comes just 18 months after the startup raised a $24m Series B, bringing total funding to date to $120m.
Nabla, which was cofounded in Paris by former Facebook AI research engineer Alexandre Lebrun, provides an AI-powered assistant for practitioners that can listen in to clinical consultations and draft notes including patient medical history, symptoms, doctor diagnosis and prescription.
The company says this saves doctors significant time on administrative tasks like filling out clinical documentation, and enables reductions in clinician burnout.
The Series C was led by German VC HV Capital and included new investors DST Global and Highland Europe. Returning investors Cathay Innovation and Tony Fadell’s Build Collective also backed the round.
AI agents for doctors
With the fresh injection of cash, Nabla plans to expand into AI agents, which are AI systems that can automate tasks. This means that in addition to generating notes, Nabla’s assistant could carry out actions like linking to a patient’s electronic health records.
“We’re going even deeper into clinical workflows,” said Lebrun. “We see a future where AI not only documents care, but actively drives efficiency by executing actions within complex clinical workflows and environments.”
Expanding to the US
Since raising its Series B last year the French startup has seen a wave of adoption of its technology in the US, where 90% of its revenue now comes from. More than 130 healthcare organisations across the US have deployed Nabla’s assistant, including Children’s Hospital Los Angeles, Denver Health and University of Iowa Health Care.
The company did not share its revenue figures but says annual recurring revenue (ARR) has increased fivefold in the past six months, with the technology supporting more than 85k clinicians.
In the US, however, Nabla is also facing competition from large players including healthtech startup Abridge, which raised a $250m round in February.
Read the orginal article: https://sifted.eu/articles/nabla-raises-70m-series-c/
