Notable has raised $116.8M in funding to date. Here are the top-line bullets you need to know.
Notable, a provider of robotic process automation (RPA) for healthcare administration, has raised $100M in a Series B. The round drew participation from Greylock Partners, F-Prime Capital, ICONIQ Growth, and Oak HC/FT Partners.
How’s the company performing?
- California-based Notable’s platform brings together robotic process automation (RPA) with other technologies to automate administrative workflows for clinicians and healthcare staff.
- The company reports that it saves providers 700+ hours of administrative work per year.
- The company caters to several healthcare organizations, including Intermountain Healthcare, Houston Methodist Hospital, North Kansas City Hospital, and CommonSpirit Health, across roughly 350 locations.
- Notable reports a 97% patient satisfaction rating and sees more than 120 new visits per provider every year.
Why does the market matter?
- The healthcare artificial intelligence market is projected to grow at a CAGR of 41.4% and reach a value of $51.3B by 2027, according to Meticulous Research.
- Healthcare organizations are increasingly looking to adopt new technologies that can help cut costs.
- Hospital systems have seen an influx of patients amid Covid-19, generating greater demand for tools to help manage operations.