DeepScribe, an AI-based medical scribe platform, raised $5.2 million in a seed funding round.
The funding round was led by Bee Partners with participation from Industry Ventures and Stage II Capital along with existing investors Tsingyuan Ventures, 1984 Ventures, Wavemaker 360, Supernode Ventures, Skydeck, Plug and Play, and Sequoia Scout Fund.
DeepScribe develops a medical scribe technology that automatically listens to natural patient conversations without any prompting. According to the company, its AI-based solution extracts medically relevant information, summarizes the interaction into cohesive sentences, and then directly integrates notes into the appropriate fields in your electronic health records.
Studies show that doctors spend two hours on documentation for every hour they spend with patients, usually late at night or on weekends. “I saw it with my own mother,” said DeepScribe cofounder Matthew Ko. “She was seriously ill and deeply worried. And to make it worse, she felt like her doctors were not listening. It was not their fault. They were just doing what they had to do. But it had a real impact on her state of mind and her experience of care.”
According to the company, 400 providers have adopted its technology in just the past year, generating 500,000 notes. “The value of DeepScribe goes much deeper than note-taking,” said DeepScribe cofounder Akilesh Bapu. “It’s about giving doctors the freedom to focus on caregiving and give patients their full attention. Studies show that patient satisfaction is directly correlated with facetime with their physicians. That is what we mean when we talk about bringing the joy of care back to medicine. It’s about restoring that relationship between doctor and patient.”
Digital Health companies raised a record $7.2 billion in VC funding in Q1 2021, according to the latest Mercom Digital Health Funding and M&A Report.
