Corti plans to use the funds to expand into primary care in the US. Here are the top-line bullets you need to know.
Corti, an AI-powered patient consultation platform, has raised $27.2M in a Series A round. The round drew participation from Vækstfonden, byFounders, and IDInvest Partners, among others.
How’s the company performing?
- Denmark-based Corti’s AI-powered speech recognition technology analyzes patient consultations in real time to provide best practice recommendations and optimal treatment plans.
- The company was established to provide support on emergency cardiac arrest calls and to manage cases related to Covid-19. It has branched out across other areas of healthcare.
- Corti analyses around 250,000 low-acuity consultations every month.
Why does the market matter?
- The global NLP in the healthcare and life sciences market is projected to grow at a CAGR of 19% and reach a value of $4.3B by 2026, according to Markets and Markets.
- In Q2’21, global healthcare funding surpassed $34.7B across nearly 1.6K deals. The acceleration of digital transformation initiatives was a major contributor, with digital health startups accounting for 40% of both the deals and funding raised in the quarter ($14.1B across 628 deals).
- The impact of Covid-19 on the virtual care landscape alongside a focus on reducing healthcare spending, adopting predictive analytics, and instituting practices that lower risk and save time has led to industry growth.