TL;DR:
- Copenhagen-based startup Corti raises $60 million in Series B funding.
- Corti’s AI assistant supports healthcare clinicians in real-time patient assessments.
- Investors include Prosus Ventures and Atomico, with continued backing from Eurazeo, EIFO, and Chr. Augustinus Fabrikker.
- Corti’s customer base has grown to 100 million patients annually, with 150,000 daily AI tool usage.
- The AI tools boost healthcare worker accuracy by up to 40% in outcome predictions and increase administrative task speed by 90%.
- Notable clients include emergency services in Seattle, Boston, and Sweden, as well as various hospitals.
- Corti’s approach focuses on building proprietary AI models without in-house medical experts.
- The company envisions a future where AI becomes a routine part of healthcare.
Main AI News:
In a testament to the burgeoning influence of artificial intelligence in the healthcare sector, Copenhagen-based startup Corti has successfully raised a substantial $60 million in Series B funding. This capital infusion is earmarked for expanding the company’s cutting-edge AI assistant, designed to provide real-time support to healthcare professionals during patient assessments. Leading this funding round are prominent investors Prosus Ventures and Atomico, with the continued support of Eurazeo, EIFO, and Chr. Augustinus Fabrikker, who had previously backed Corti. While the company remains discreet about its current valuation, it has witnessed remarkable growth in both its customer base and utilization.
Just two years ago, in 2021, Corti secured a Series A funding round of $27 million and was already assisting in approximately 15 million consultations annually. Today, it proudly reports working with an astonishing 100 million patients each year, with its AI tools being utilized a staggering 150,000 times daily. This translates to nearly 55 million consultations annually across Europe and the United States alone. Corti asserts that its AI-driven solutions can enhance healthcare workers’ accuracy in outcome predictions by up to 40% and expedite administrative tasks by a remarkable 90%.
The surge in attention and adoption of Corti’s services, particularly in the post-COVID-19 era, has led to a client roster that includes emergency services in Seattle, Boston, and Sweden, along with numerous hospitals and medical institutions. Corti characterizes its offering as an “AI co-pilot” for healthcare, covering a wide array of critical functions: assisting in patient triage, comprehensive documentation of patient interactions including administrative coding, analysis of interactions to guide decision-making, offering occasional contrasting “second opinions” to healthcare providers, and providing real-time and post-meeting notes to identify areas for improvement and support clinician training.
This comprehensive approach highlights the multifaceted demands placed on healthcare professionals, making it apparent that Corti is not alone in pursuing this model. Indeed, other innovators like Nabla, a Paris-based startup led by AI entrepreneur and researcher Alex LeBrun, have ventured into the domain of AI “copilots.” However, Corti’s distinctive approach involves the development of its proprietary AI models and components, notably without in-house medical experts. Co-founder and CTO Lars Maaløe, along with CEO Andreas Cleve, adopted this strategy to ensure a lack of bias in the system. They crafted a platform that leveraged customer feedback and external researchers to fine-tune its AI, resulting in enhanced responsiveness and functionality.
While Corti’s journey has not been without challenges, it has observed a significant shift in customer attitudes over time. The advent of AI models like ChatGPT has normalized AI adoption, making customer interactions more fluid and less focused on AI-related concerns. Maaløe envisions a future where AI becomes a mundane part of healthcare, emphasizing the ongoing debate within the medical community regarding AI’s role and impact. Some experts raise concerns about over-reliance on potentially flawed data and analysis, but these disagreements have historically driven the evolution and refinement of medical practices.
Sandeep Bakshi, Head of European Investments at Prosus Ventures, expressed confidence in Corti’s ability to alleviate the administrative burdens faced by healthcare professionals globally, thus enhancing patient care. Atomico partner Laura Connell praised Corti’s visionary founders and their commitment to revolutionizing global healthcare, acknowledging the pressing need for transformation in the face of rising administrative costs, demographic changes, and a surge in chronic illnesses. Corti’s AI-powered solutions offer the promise of more personalized, preventative, and proactive medicine, ultimately transforming the patient and healthcare provider experience.
Conclusion:
Corti’s substantial funding and remarkable growth underscore the increasing significance of AI in healthcare. The expansion of its AI assistant capabilities and the growing client base highlight the industry’s growing reliance on AI-driven solutions. This trend signals a shift towards more efficient and data-driven healthcare practices, ultimately benefiting both patients and healthcare providers.
