A Danish firm harnessing AI to make patient consultations more efficient has raised £19.5m (US$27m) to realise its growth plans.
Corti.ai, a software-as-a-service (Saas) health tech firm, is focused on improving the workflow in patient consultations.
Its machine learning platform can listen in during patient consultations to help to document, code, and verify the interaction in real-time.
The firm, founded in 2016, started working within emergency medicine, supporting emergency calls focused on cardiac arrest and COVID-19 cases but has since then moved into supporting medical staff conducting consultations across healthcare.
Co-founder and CEO Andreas Cleve says: “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.”
The company’s patented technology automatically listens in during patient consultations on phone or video. Here it uses machine learning models to transcribe and analyze thousands of variables within each consultation.
Lars Maaløe, CTO and co-founder, says: “Not only is our technology able to document consultations, it automatically compares each patient’s symptom description to millions of other patients to offer real-time decision support during the engagement, like nothing else available in the market today.”
Since its inception several studies have validated the efficacy of Corti’s human-computer partnership and found that Corti can help medical professionals deliver best-in-class results.
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.
The new funding comes on top of the US$5m seed round raised in 2019, and the company plans to use the money to fuel its expansion into primary care in the US.
The latest raise will be used “to accelerate Corti’s growth plans further – in the coming years, new products will be launched, and we have plans to enter primary care and win the US market for consultations intelligence”.
Lars Maaløe says: “We are very proud of our work in the field of emergency medicine, but already today we are analysing 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.”
The company won VentureBeat’s “Best Global AI Innovation 2018″ and the “Future Unicorn Award 2020” award by the European Commission for being the most likely next unicorn from the European continent.
The latest investment was led by Vaekstfonden -The Danish Growth Fund and Chr. Augustinus Fabrik, who joins existing investors Hearcore, Id Invest, and byFounders.