Corti, a Copenhagen-based healthtech startup using AI to help healthcare providers deliver the right healthcare to patients at the right time, has raised $60 million in a Series B funding round. The investment is expected to help fuel the company’s growth, both in terms of the team size and client base. Since mid-late 2018, Corti has raised over $86 million.
Corti’s $60 million growth funding round was co-led by Prosus Ventures and Atomico, with existing investors Eurazeo, EIFO, and former Danish tobacco company which now serves as the investment company of the Augustinus Foundation, Chr. Augustinus Fabrikker participating.
For all the ink that fearmongers pointing to ‘AI will take our jobs’ gets, one sector that you’ll not be hearing from is that of healthcare workers. One look at the UK’s crumbling NHS, for example, is enough to justify the very existence of a company offering the services Corti does, say nothing of its ability to generate a profit.
"For years, we've been proving that when humans and AI team up, the patient wins. ” - Andreas Cleve, Corti co-founder and CEO.
Looking across the Atlantic, in 2017, US doctors reported a staggering six hours of administrative activities such as updating electronic health records, and just three hours per day interacting with patients.
This imbalance can lead to physician burnout (remember, most, if not all, entered the field to promote the health of their patients, not become file clerks), and medical errors, a number the US’s esteemed Mayo Clinic cites 88 percent of initial diagnoses being incorrect.
Providing these overworked healthcare professionals with a literal co-pilot, Corti’s AI-powered Co-Pilot offer has been trained on millions of patient interactions and acts as a second set of eyes, ears, and hands. In addition to providing a nudge as to when to deliver what care, Corti also provides journaling, coding, and QA services.
Since receiving a €22.8 million Series A investment just over two years ago, Corti has seen tremendous growth and reports covering some 100 million patients a year, aiding healthcare professionals over 150,000 times a day across Europe and the United States.
Now, a $60 million investment is aimed at helping the company grow and go even further. Cleve comments:
“This partnership between a healthcare professional and a Co-Pilot leads to best-in-class care, fewer errors, less red tape, and a better workflow, as every professional gets their own assistant. Through this investment, we will work to amplify our impact as we'll scale our offering to all kinds of healthcare professionals."
Lead image: Andreas Cleve and Lars Maaløe (left to right). Original photo in portrait: Ingmar Bötker. Landscape version: Adobe Photoshop generative AI.