Copenhagen-based Corti.ai, a healthtech SaaS startup that helps emergency departments to detect critical illnesses like cardiac arrest in real-time, announced that it has raised $27M (approx €22.82M) in its Series A round of funding.
The fresh round of funding follows the company’s $5M (approx €4.22M) Seed round funding raised in 2019.
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The round was led by Vaekstfonden, the Danish Growth Fund, and Chr. Augustinus Fabrikker, a former Danish tobacco company that now serves as the investment company of the Augustinus Foundation.
In addition, the round also saw participation from existing investors Hearcore, Id Invest, and byFounders.
Speaking on the development, Vaekstfonden’s CEO Rolf Kjærsgaard says, “The global healthcare system has been tested over the last 18 months, and it has shown some fundamental challenges around availability and access to expertise that needs to be addressed. Robust and ethical technology can help solve some of these critical problems, and we believe Corti can help define the market for artificial intelligence (AI) in healthcare.”
Use of the funds
The fresh capital will help the company to accelerate its expansion into primary care in the US for consultation intelligence. The funds will also enable Corti to launch new products.
Founder Lars Maaløe explains, “We are very proud of our work in the field of emergency medicine, but already today we are analyzing roughly 250,000 low acuity consultations per month, proving that the technology can be a massive value-add for both telehealth companies, clinical call-centers, and GPs around the world.”
“Revolutionising the healthcare industry”
Founded by Lars Maaløe and Andreas Cleve in 2016, Corti has developed a software platform leveraging artificial intelligence to help healthcare personnel during patient consultations.
Andreas Cleve explains, “Healthcare professionals only have a few minutes with each patient, and these encounters are compromised by keyboards and screens, hated by patients and doctors alike. What we’ve been able to prove at Corti is that machine learning can be a life-saving tool by offering a new kind of “deep listening” that will not only improve patient outcomes but also save time and money.”
At the time of consultation, Corti’s AI and machine learning platform automatically listens to patient consultations on phone or video. Simultaneously, it writes notes, searches databases, and compares symptom descriptions with millions of historical cases in real-time to ensure each patient gets the optimal treatment.
Corti started working within emergency medicine, supporting emergency calls focused on cardiac arrest and Covid-19 cases. It has since moved into supporting medical staff conducting consultations across healthcare.
Research from Copenhagen Emergency Services found that Corti could help reduce the amount of undetected out-of-hospital cardiac arrest cases by more than 40 per cent, with almost no training of the personnel needed.
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