Health tech firm Suki raises $55 million in funding

In a series C round of funding led by March Capital, AI powered health tech voice platform, Suki, raised $55 million. Billed as a powerful tool for healthcare workers to generate medical notes and significantly reduce administration, this Siri-like voice platform uses natural language processing and machine learning to streamline a range of often mundane admin tasks performed by healthcare professionals.

“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 of 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,” he adds.

In recent months Suki has reported extremely strong growth, with the firm seeing revenue quadruple in the past year. According to the AI voice firm, professionals who use their solution see documentation time fall by 76% on average, with many physicians in different specialities using the platform successfully.

Basic data entry tasks can slow down medical professionals and make a difficult job even more challenging. Even a relatively small time saving can improve the work done by healthcare workers, who will have more time to spend on essential, patient-facing appointments.

Suki hopes to use this funding to make investments that will enable the platform to grow and establish more partnerships with medical organisations. The Series C round also saw existing investors such as Venrock, Flare Capital, Breyer Capital, and iHealth Ventures, join.

A number of so-called super-angel investors, who hold leading positions in the technology, healthcare, and finance industry, also joined the round. This included 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).