Suki AI Inc., a startup with an artificial intelligence assistant for healthcare professionals, has raised $70 million in funding to enhance its technology.
London-based fund Hedosophia led the Series D investment. Suki said in its announcement of the deal today that Venrock, March Capital, Flare Capital, Breyer Capital and inHealth Ventures participated as well. The software maker is now reportedly worth more than $500 million.
Ahead of a doctor’s appointment, physicians often review medical information from the patient’s electronic health record. Suki says its AI assistant can automatically retrieve that information to save time. The Suki Assistant, as the software is called, does so using built-in integrations with several popular health record management applications.
The software promises to ease physicians’ work not only before but also during appointments. Using a built-in speech recognition feature, Suki AI collects medical information and automatically generates notes. The company says that the capability speeds up the note-taking process by up to 72%.
Suki AI streamlines a number of related tasks as well. After a physician approves an AI-generated medical note, the software can automatically add the text to the patient’s electronic health care. It thereby avoids the need for manual data entry. Suki AI likewise reduces some of the manual work involved in entering medical information into forms.
Clinicians use a framework called ICD-10 to share medical information. The framework makes it possible to describe a patient’s condition using standardized codes, which are easier to manage from a database administration standpoint than natural language notes. Suki AI can automatically analyze medical notes and find the corresponding ICD-10 codes to save time for clinicians.
Under the hood, the software is powered by a large language model optimized to process medical information. Suki says the LLM is supported by a repository of structured data drawn from more than one million patient records. That data spans more than 35 medical specialties.
Alongside Suki Assistant, the company provides a developer tool called the Suki Platform. It allows software teams to integrate the AI capabilities that underpin Suki Assistant into their own applications.
The company says its technology is drawing significant interest from healthcare institutions. In conjunction with today’s funding announcement, it disclosed that Maryland-based MedStar Health is rolling out Suki AI to thousands of clinicians. Additionally, more than a dozen other healthcare providers have either signed up for the software or expanded their existing deployments in recent two months.
Suki will use the proceeds from its funding round to accelerate commercialization initiatives. In conjunction, it plans to develop new products as well as enhance the AI capabilities of its existing software.