FinanceNews

Suki raises $55M in Series C funding

Suki will use the fund to make strategic investments that will lead to an expansion of its user base

Suki, a leader in voice artificial intelligence (AI) technology for health care, has closed a Series C funding round of $55 million, led by March Capital, with additional support from Philips Ventures, and all previous investors including Venrock, Flare Capital, Breyer Capital, and inHealth Ventures. The round is also comprised of super-angels who are leading figures in technology, healthcare, and finance, including Gaingels Group, Pankaj Patel (ex-Chief Development Officer of Cisco), Andrew Deutsch (CEO of RIMA Radiology), and Russell Farscht (former Managing Director of The Carlyle Group).

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Suki will use the fund to make strategic investments that will lead to an expansion of its user base through new and existing partnerships with leading health systems and medical groups while bolstering employee growth and development. In addition, Suki will advance the AI capabilities of Suki Assistant, its voice-enabled digital assistant, and Suki Speech Platform, its proprietary voice platform, as well as add new features that streamline documentation, coding and other administrative tasks for physicians.

“We are at a turning point in healthcare, where it’s now imperative to offer technology that improves physician burnout caused by documentation and administrative burden, said Punit Soni, CEO, Suki. With the strong support of our investors, Suki is poised to address this issue at an even larger scale and advance high-value, coordinated care through cutting-edge technology that integrates seamlessly into a physician’s daily practice.

Powered by artificial intelligence, Suki uses natural language processing and machine learning to create clinically accurate medical notes and streamline administrative tasks, such as retrieving patient information from the electronic health record (EHR) or ICD-10 coding. As a true digital clinical assistant, Suki supports doctors practising in any clinical setting, as well as any speciality, including cardiology, orthopaedics, plastic surgery, ophthalmology, paediatrics, and family medicine. Providers can use a wide variety of voice commands to complete tasks, further personalising the voice-enabled experience and streamlining workflows.

In the last year, Suki has experienced tremendous growth, quadrupling its revenue. It continued to rapidly innovate, introducing new capabilities including the ability to dynamically pull in EHR data and a Suki Windows app that extends the reach and power of Suki Assistant to any Windows computer.

It continued to expand its capabilities outside of clinical documentation, refining its ICD-10 coding features to be more accurate and streamlined. The solution reduces documentation time by 76 per cent on average and is used by physicians across dozens of specialities in more than 90 health systems and clinics nationwide.

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