In Short:
Suki, an AI healthcare company, has raised $70 million in its Series D funding, totaling $165 million overall. Led by Hedosophia with notable contributions from Venrock and others, Suki will use these funds to enhance product development and grow partnerships. Their AI solutions, including the Suki Assistant, streamline clinician tasks, boosting productivity and clinician well-being. The company also continues expanding its collaboration with MedStar Health.
Suki, an Artificial Intelligence (AI) technology company specializing in voice solutions for healthcare, has successfully raised USD 70 million in its Series D funding round. This investment increases the company’s total funding to USD 165 million. The round was led by Hedosophia, with significant contributions from Venrock and other existing investors, including March Capital, Flare Capital, Breyer Capital, and inHealth Ventures. The new capital will be utilized for product development, commercial initiatives, and the expansion of leadership.
Product Development with New Investment
The fresh investment is intended to accelerate Suki’s product development and extend its current offerings. Among its AI solutions is Suki Assistant, an AI tool designed to streamline administrative tasks for clinicians, along with the Suki Platform, which provides developer tools for technology partners looking to create AI experiences.
Suki Assistant: Streamlining Clinical Workflows
Suki has reported that its Assistant significantly alleviates clinicians’ burdens by efficiently generating notes, managing dictation and commands, simplifying coding, and addressing clinical inquiries through relevant chart data retrieval from electronic health records (EHRs).
“Suki has been growing at an exponential rate, with over a dozen major health systems and hospitals deploying or expanding access to Suki in the last two months alone,” asserted the company.
“We are in a new phase of growth. The healthcare industry is clamoring for AI and we are proud to offer a suite of full-featured solutions that seamlessly interoperate with existing tools,” stated Punit Soni, CEO and founder of Suki.
“With the support of our investors, we will accelerate our growth, diversify Suki’s capabilities, and deepen relationships with strategic partners such as MedStar Health, one of the most important collaborators in Suki’s history. MedStar Health was fundamental in helping us build essential capabilities including our bidirectional and seemingly ‘invisible’ EHR integration, which is why we have the highest clinician adoption rates in the industry. Together, we have demonstrated how a technology company and health system can meaningfully innovate together and advance physician well-being and patient care.”
Partnerships Driving Growth
The Suki platform integrates with EHR systems like Epic, Oracle Cerner, and Meditech, facilitating faster documentation and improved workflow efficiency. Additionally, Suki collaborates with Athena. According to the company, the Assistant’s capability to reduce documentation time by 72 percent has resulted in a 70 percent adoption rate across various health systems.
“Health systems experience note completion up to 72 percent faster while increasing documentation quality, improving clinician well-being, and enhancing revenue capture,” Suki stated.
“Since our seed investment in Suki, the company has grown exponentially by securing strategic partnerships with leading health systems and healthtech companies, and demonstrating meaningful impact to all stakeholders, from clinicians to administrators,” said Bryan Roberts, Partner at Venrock. “Suki is well on its way to becoming the de facto AI platform for healthcare, and we are proud to support it as it continues its rapid growth.”
Expanded Partnership with MedStar Health
Suki has also expanded its strategic partnership with MedStar Health, making Suki’s Assistant available to thousands of MedStar Health clinicians across multiple specialties, including primary care, cardiology, and gastroenterology, as well as in urgent care settings.
“As MedStar Health explores and deploys artificial intelligence capabilities that can revolutionize healthcare delivery, Suki has served as a critical partner in our ongoing journey for more than four years,” stated Jeff Collins, Vice President of the MedStar Institute for Innovation Business Innovation Lab.
Recent announcements have highlighted partnerships with health systems like Ascension Saint Thomas, St. Mary’s Hospital, and Decatur County Memorial Hospital, as well as collaborations with healthcare technology companies Meditech and Amwell, and group purchasing organizations such as Premier and omo, according to Suki.
