Vital, a developer AI-powered emergency practice management system, raised $15 million in Series A funding.
The round was led by Transformation Capital, with a strategic health system and existing investors, First Round Capital, and Threshold Ventures.
The company plans to use the funds to expand its team and broaden and deepen its technology’s impact on patients, healthcare providers, and EDs across the United States.
According to Vital, its ERAdvisor application gives patients and their caregivers in the ED real-time mobile updates about wait times, lab statuses, and next steps for a more streamlined patient experience and improved care coordination.
According to the company, Vital is now used in more than 80 hospitals across 15 healthcare systems nationwide, including CommonSpirit Health and Emory Healthcare.
“The last year has only clarified our mission: we must simplify and humanize medical care and communication, especially in the hospital setting,” says Vital co-founder and CEO Aaron Patzer. “Vital can now be plugged into the electronic medical records of any health system and implemented in a matter of days or weeks. It’s now incredibly easy to bring the same kind of consumer-friendly user experience we built at Mint to a place that desperately needs it: healthcare.”
In some emergency departments throughout the country, ER wait times can be upwards of 50 hours, causing patient dissatisfaction and delayed medical attention. Vital said with its software services, patients and caregivers will get up-to-date information on wait times, triage care, and next steps all through the power of AI technology while avoiding the frustration of traditional Emergency Department visits.
“The healthcare industry has spent the last ten years implementing EMRs and forgetting about the patient experience,” said Todd Cozzens, managing partner at Transformation Capital. “Having built Mint.com, famous for its breakthrough consumer useability, Aaron saw an opportunity to give the patient the information they need when they want it, helping clinicians at the same time. And the fact that Vital can be installed so quickly and easily with no real burden on IT departments continues to drive quick adoption.”
Digital Health companies raised nearly $15 billion in the first half of 2021, according to the latest Mercom Digital Health Funding and M&A Report.