Suki, a company offering AI voice solutions to healthcare companies, has secured $70 million in Series D funding, it announced Thursday. The financing will help the company build new products.
Redwood City, California-based Suki partners with more than 300 health systems and clinics, as well as EHRs, telehealth companies and clinical communications companies. It has two main offerings: Suki Assistant and Suki Platform. The former supports clinicians with administrative tasks by taking notes ambiently, taking dictation and commands, simplifying coding and answering clinical questions using data from the EHR. The latter is available for health tech companies looking to enhance their solutions with AI and voice technology.
The $70 million Series D financing round was led by Hedosophia and included participation from Venrock, March Capital, Flare Capital, Breyer Capital and inHealth Ventures. In total, the company has raised $165 million.
“Since our seed investment in Suki, the company has grown exponentially by securing strategic partnerships with leading health systems and healthtech companies, and demonstrating meaningful impact to all stakeholders, from clinicians to administrators,” said Bryan Roberts, partner at Venrock, in a statement. “Suki is well on its way to becoming the de facto AI platform for healthcare and we are proud to support it as it continues its rapid growth.”
With the financing, the company will focus on expanding its offerings beyond Suki Assistant and Suki Platform, according to the announcement. Suki will invest in its AI and tech teams, as well as grow its marketing, sales and customer success teams, added Punit Soni, founder and CEO of the company.
“Ambient documentation solutions have been on the market for a little over a year, and many health systems have spent the last year piloting various solutions and are starting to make decisions about which solution they will deploy at scale,” Soni said in an email. “This funding will help us support our client’s growth and our ongoing sales and marketing efforts. We will emphasize increasing the visibility of Suki Platform, which we launched in response to market demand for AI capabilities that can be integrated into existing solutions. We also have some new commercial partnerships on the horizon and will be filling a few commercial and clinical roles.”
When asked about Suki’s exit strategy, Soni responded that Suki’s mission “is to make healthcare invisible and assistive so clinicians can focus on what matters most: their patients.” He added that the company has “no plans for a traditional exit.”
In addition to the funding announcement, Suki also announced an expanded partnership with MedStar Health, a health system with more than 300 care locations. Through the partnership, Suki Assistant is available to thousands of Medstar Health’s clinicians in ambulatory specialties like primary care, cardiology, gastroenterology and urgent care.
Suki has recently launched several other partnerships with health systems, including Ascension Saint Thomas, St. Mary’s Hospital and Decatur County Memorial Hospital. It has also announced partnerships with health tech companies like Meditech and Amwell.
Suki is not the only AI voice company. Others in the space include Nuance and Abridge.
Picture: Feodora Chiosea, Getty Images
