Augmedix Announces Additional $19 Million in Series B Funding
Major investors, including Redmile Group, McKesson Ventures, DCM Ventures, Wanxiang Healthcare Investments and others supplied fresh funding to accelerate scaling of Augmedix and to deepen the company’s leading note automation technology
SAN FRANCISCO, Oct. 24, 2019 /PRNewswire/ — Today, Augmedix announced that it has received $19 million in Series B funding that includes investments from Redmile Group, McKesson Ventures, DCM Ventures, Wanxiang Healthcare Investments and others.
The company will use this fresh funding to accelerate product development, including automation capabilities, and to strategically scale its technology-enabled service across health systems and private clinics nationwide.
“We have strong confidence in the Augmedix team’s ability to execute on its goal of reducing physician burnout and significantly improving their quality of life,” said Tom Rodgers, senior vice president and managing director at McKesson Ventures. “Augmedix is uniquely positioned to leverage trained medical documentation experts, increasingly enabled by artificial intelligence, to deliver a consumer-grade experience for the clinician that results in more accurate and timely documentation in the most cost-effective manner possible.”
Fifteen national health systems, including Sutter Health, CommonSpirit Health, and US Oncology, representing more than 10% of clinicians in the United States, have partnered with Augmedix. The company has over one thousand team members worldwide that are focused on developing and delivering the service.
“Augmedix has expanded our care teams in a novel way, supporting clinicians from primary care, to dermatology and gastroenterology,” said Albert Chan, M.D., M.S., chief of digital patient experience at Sutter Health. “Augmedix has helped our efforts to enhance clinician-patient visits and to boost clinician productivity by maximizing our time together.”
“We appreciate the confidence our investors have shown in Augmedix and are excited by how quickly the industry has adopted our service,” said Manny Krakaris, chief executive officer at Augmedix. “Our service is differentiated because it operates in real-time and is enabled by natural conversation, not burdensome single-party dictation. The combination of our proprietary technology and expert teams reliably delivers the highest quality medical notes thus relieving clinicians of that burden. We will continue to be at the forefront of medical documentation services by investing heavily in technology that will enable us to efficiently deliver additional services and features to our health system customers.”
Augmedix turns natural clinician-patient conversation into medical documentation, in real-time, so that clinicians can focus on what matters most–patient care. The Augmedix platform is powered by a combination of proprietary natural-language-processing technology and medical documentation expert teams. Augmedix provides clinicians with hardware, Smartphones or Google Glass, to securely stream the clinic visit to its cloud-based platform. Tech-enabled remote specialists are a critical part of Augmedix’s operational platform and utilize proprietary automation modules to generate medical documentation that is accurate, comprehensive and timely delivered. The service works with over 25 specialties and supports most EHRs. Augmedix has partnered with over one dozen health systems to combat clinician burnout and increase clinician productivity by more than 30%. For more information, visit www.augmedix.com.
Kaila Grafeman, Enterprise Marketing