AI-enabled clinical data abstraction company Carta Healthcare scored $18.25 million in Series B1 financing led by UPMC Enterprises.
New investors MemorialCare Innovation Fund, Tampa General Hospital Ventures and Rex Health Ventures (UNC Health’s investment fund) participated in the round, alongside existing investors Memorial Hermann Health System, Paramark Ventures, Storm Ventures, Mass General Brigham Ventures, CU Healthcare Innovation Fund and Frist Cressey Ventures.
WHAT IT DOES
Carta Healthcare offers an AI-powered data abstraction platform for structured and unstructured data with analytics to help clinical teams find patients for clinical trials, generate insights to improve efficiency and automate registry data collection.
The San Francisco-based company will use the funds to grow its customer base, particularly in the life sciences sector.
“This investment further validates our mission to harness the power of data, ensuring that healthcare teams and researchers have the information they need, when they need it,” Brent Dover, CEO of Carta Healthcare, told MobiHealthNews in an email.
“With the support of leading health systems, we can continue expanding our deep clinical expertise, scaling our operations and optimizing AI-driven data abstraction to deliver real-time, high-quality insights. This funding allows us to accelerate innovation, improve efficiency and ultimately support better patient outcomes.”
MARKET SNAPSHOT
In December, Carta Healthcare acquired Realyze Intelligence, a portfolio company of UPMC Enterprises that uses AI to match patients to clinical trials.
In 2023, the company announced the final closing of its $25 million Series B funding round. In 2021, the company scored $17.3 million in Series A funding.
Other digital health organizations in the data abstraction space include AI-enabled chart review company Layer Health, which raised $21 million in Series A funding earlier this year.
Another company in the data abstraction market, DigitalOwl uses natural language processing to analyze and summarize EHRs. Last year, the company scored a $12 million investment from insurance giant Reinsurance Group of America (RGA), and in 2022, it raised $20 million in Series A funding.
Credit: Source link
