Infermedica raises $30 M in Series B funding
By 2030, up to 5 billion people will be unable to access even basic healthcare, mainly due to provider shortages and burnout. Our company’s mission is to ease the strain on global healthcare systems and make healthcare accessible, convenient and affordable by automating primary care. We will be able to achieve this vision by supporting and streamlining the healthcare decision-making process, from symptom to outcome, thanks to the $30 million Series B funding we received.
Over a year ago, we shared some fantastic news about raising $10.25M in Series A funding. Once again, I would like to thank all the people and investors involved in achieving this first milestone. As of today, we’re proud to announce another landmark occasion, enabling our growth on a mission for better healthcare, has been reached.
With One Peak leading the investment round, and with the support of our previous investors: karma.vc, European Bank for Reconstruction and Development, Heal Capital, and Inovo Venture Partners, we raised $30 million in Series B funding. I’m grateful to all the partners who believed in us, for their support and good words of encouragement.
“We are incredibly excited to back the Infermedica team as we share their vision of making healthcare more accessible and affordable by automating primary care. We have been particularly impressed with Infermedica’s clinical safety and accuracy, best-in-class user experience, ease of deployment, and customer service. We believe the company has all the ingredients in place to become the global standard for using AI to support patients and healthcare providers in all steps of the primary care journey and we look forward to supporting Infermedica in its next phase of explosive growth.”
— Humbert de Liedekerke / Managing Partner, One Peak
We're thrilled to partner with One Peak as the lead investor for this round. From the moment we met, we were very impressed with One Peak’s open and honest approach and felt that we share very similar values. One Peak is a high value-add partner for us with extensive experience in scaling B2B companies. I'm also thankful to our existing investors for their continued support and participation in our Series B round. To date, we've spent over 60,000 hours of physicians’ work building one of the world's most advanced medical knowledge bases of diseases, symptoms, and risk factors, as well as interactions between them. We will deploy the new funds to execute our vision of making primary care more efficient and affordable by creating constantly improving AI technology for everyone on the planet.
“Combined with Infermedica’s stellar development over the last years, securing many leading healthcare institutions as satisfied customers, the new financing round is a proof point of the significant value that Infermedica provides for healthcare organizations and patients. We are looking forward to the ever-increasing automation of the healthcare system powered by Infermedica!”
— Christian Weiss / Managing Partner, Heal Capital
Transition towards Medical Guidance Platform
One way in which the new funding will be used is to support Infermedica in tackling some of the biggest issues facing healthcare, through further development of our Medical Guidance Platform (MGP) and adding new modules and functionalities to cover the full primary care journey.
MGP leverages the same technology as the one behind our symptom checker tool, which has been used by over 10 million users globally, to triage patients to the right level of care. We have plans to further develop the solution to enable seamless handover to providers, including EHR integration, as part of the intake process, as well as automating the follow-up process to close the feedback loop. In the US alone, administrative simplification could reduce healthcare spending by over a quarter-trillion dollars ($265 billion) annually.
We’ve been adeptly interweaving medical and technical expertise into our technologies since 2012, to support industry leaders including Allianz, Global Excel, Gothaer, Microsoft, Optum, and Sana Kliniken. Infermedica is now being used in more than 30 countries, in 19 languages.
“We are excited to see Infermedica's plans to expand on their tools for preliminary health assessments. At Sana, our Symptom Checker, which is based on Infermedica’s technology, is directed towards patients and helps patients to understand and assess their symptoms. But the application also helps us to better understand what kind of treatment our patients require. These insights are evaluated and translated into actions which allow us to further improve the way we care for our patients. In the future, we hope that our medical staff will benefit even more from Infermedica's technology by receiving information about their patients, in advance of their visits. This will enable us to even better care for incoming patients and manage scarce resources. Infermedica's solutions are an integral part of our efforts to improve the patient experience at Sana Kliniken AG with smart digital innovations.”
— Michael Rosenstock / Head of Sana Digital, Sana Kliniken
With the new funding round we also have plans to increase our global commercial presence. That’s why, Infermedica will have representatives and speakers at the following events:
Arab Health (Dubai, UAE): 24-27January
ViVE (Miami Beach, FL, USA): 6-9 March
HIMSS (Orlando, FL, USA): 14-18 March
Smart Hospital Excellence Forum (Frankfurt, DE): 21-22 March
We hope to meet up with every company interested in leveraging its healthcare services through our technologies. If you’d like to discuss your challenges, get in touch with us.
International remote-first team
Infermedica’s team grew by 80% in 2021 and, today we are a team of over 180 specialists – including physicians, data scientists, engineers, and industry experts. I’m forever grateful to our outstanding team for making better and more accessible healthcare available to people around the world. You’re doing an amazing job and without you none of this would be possible!
Another way of using the new founding round is to expand our international, remote-first team of specialists. We know that in order to make our mission of accessible healthcare a global reality, we need an international workforce. To get closer to this goal we have at least 40 international new specialist hires planned for 2022. For anyone interested in joining our passionate team, please check out our openings.
To our users, clients, partners and investors, and to all my coworkers, I’d like to thank you. Together we are making healthcare accessible, convenient and affordable for everyone worldwide, by automating primary care from symptom to outcome.