Infermedica, a digital health company specialising in AI-powered solutions for symptom analysis and patient triage, has announced a $30 million Series B funding round, led by One Peak, and supported by previous investors: Karma Ventures, European Bank for Reconstruction and Development, Heal Capital, and Inovo Venture Partners.
The new investment – which follows a Series A funding round just over a year ago – brings the company’s total funding to $44 million. The capital will be used to support Infermedica in tackling some of the biggest issues facing healthcare through further development of their Medical Guidance Platform (MGP) and adding new modules to cover the full primary care journey. Infermedica will also increase their global commercial presence and expand their international, remote-first team of industry and medical experts.
Humbert de Liedekerke, managing partner, One Peak, said: “We are incredibly excited to back the Infermedica team as we share their vision of making healthcare more accessible and affordable by automating primary care. We have been particularly impressed with Infermedica’s clinical safety and accuracy, best-in-class user experience, ease of deployment, and customer service. We believe the company has all the ingredients in place to become the global standard for using AI to support patients and healthcare providers in all steps of the primary care journey and we look forward to supporting Infermedica in its next phase of explosive growth.”
By 2030, up to 5 billion people will be unable to access even basic healthcare, mainly due to provider shortages and burnout. Infermedica’s mission is to ease the strain on global healthcare systems and make healthcare accessible, convenient, and affordable by automating primary care. Infermedica’s MGP is the first step to achieving this vision by supporting and streamlining the healthcare decision-making process, from symptom to outcome.
MGP leverages the same technology behind Infermedica’s successful Symptom Checker tool, which has been used by over 10 million users globally, to triage patients to the right level of care. Infermedica plans to further develop the solution to enable seamless handover to providers, including EHR integration, as part of the intake process, as well as automating follow-ups to close the feedback loop. In the US alone, administrative simplification could reduce healthcare spending by over a quarter-trillion dollars ($265 billion) annually.
Michael Rosenstock, head of Sana Digital, Sana Kliniken, said: “We are excited to see Infermedica's plans to expand on their tools for preliminary health assessments. At Sana, our Symptom Checker, which is based on Infermedica’s technology, is directed towards patients and helps patients to understand and assess their symptoms. But the application also helps us to better understand what kind of treatment our patients require. These insights are evaluated and translated into actions which allow us to further improve the way we care for our patients. In the future, we hope that our medical staff will benefit even more from Infermedica's technology by receiving information about their patients, in advance of their visits. This will enable us to even better care for incoming patients and manage scarce resources. Infermedica's solutions are an integral part of our efforts to improve the patient experience at Sana Kliniken AG with smart digital innovations.”
Founded in 2012 in Poland by Piotr Orzechowski (CEO), Infermedica’s team grew by 80% in 2021 to 180 specialists – including physicians, data scientists, and engineers, and 2022 will see Infermedica on the trajectory to double their workforce yet again.
Piotr Orzechowski, CEO and co-founder, Infermedica, said: “We're thrilled to partner with One Peak as the lead investor for this round. From the moment we met, we were very impressed with One Peak’s open and honest approach and felt that we share very similar values. One Peak is a high value-add partner for us with extensive experience in scaling B2B companies. I'm also thankful to our existing investors for their continued support and participation in our Series B round. To date, we've spent over 60,000 hours of physicians’ work building one of the world's most advanced medical knowledge bases of diseases, symptoms, and risk factors. We will deploy the new funds to execute our vision of making primary care more efficient and affordable by creating constantly improving AI technology for everyone on the planet.”
With the development of their Medical Guidance Platform underway, Infermedica is proud to be continuing their growth story as part of the One Peak investment portfolio.
