Laudio, a developer of AI-powered staff relationship management platform, completed a $7.3 million Series A financing round.
InHealth Ventures led the round with participation from .406 Ventures, MemorialCare Innovation Fund, and existing investors.
The company intends to use the latest funds to further develop its software platform and accelerate innovation.
“Laudio has developed the most advanced technology in the industry to address one of the biggest and most challenging problems healthcare professionals in large hospital systems face – burnout and turnover,” said Liam Donohue, Managing Partner at .406 Ventures in a press release. “The Laudio Team combines its deep domain expertise in the healthcare industry with new, cutting-edge technology to operationalize leadership best practices and drive an engaged culture.”
Laudio is an automated real-time healthcare staff engagement platform. It allows health systems to drive real-time, personalized engagement between frontline managers, nurse managers, and their teams, building a culture that supports nurse management and reduces nurse turnover and burnout.
Its platform is used by healthcare teams every day, during their workflow, at their desks, in meetings, or out conducting rounds. It collects healthcare staff information from multiple sources inside a health system and translates it into management actions. Its customers include Boston Medical Center and Carle Foundation Hospital.
“The criticality of enhancing the day-to-day work environment of nurse managers and their staff is not unique to North America,” said Dr. Benedict Evans, Managing Director at InHealth Ventures in a company press release. “Research data shows that the issues are universal around the globe. We are delighted to contribute to Laudio’s continued innovation as they expand into new markets internationally. Laudio is tackling this problem head-on with an innovative approach that will be transformational for health systems, and we are eager to implement the platform across InHealth’s clinical operations in the UK.”
Similar technologies that received funding include:
VideaHealth, a developer of AI tools that helps medical professionals accurately diagnose dental diseases, raised $5.4 million.
Mednition, a developer of real-time machine learning-powered clinical decision support for emergency healthcare providers, raised $10 million.
Leben Care Technologies, a developer of AI-powered automated medical image analysis algorithms that improve access and quality of diagnosis across areas of life sciences, raised an undisclosed amount in funding.
According to Mercom data, AI-enabled digital health companies have raised $2.2 billion since 2018.
