Layer Well being, an AI-enabled chart evaluate firm, introduced it secured $21 million in Collection A funding.
Outline Ventures led the spherical, with participation from GV (Google Ventures), Flare Capital Companions and MultiCare Capital Companions.
WHAT IT DOES
Layer Well being’s AI platform is constructed on machine studying algorithms that leverage massive language fashions (LLMs) to streamline the chart evaluate course of from unstructured knowledge.
The corporate touts its AI as performing higher than a human at complicated chart abstraction and that every one main registries are supported, together with cardiovascular and oncology registries and nationwide surgical procedure.
The expertise could be built-in into current merchandise and goals to assist with high quality measurement, curation of real-world proof, income cycle administration, high quality measurement and registry submissions with out the necessity for labeled knowledge.
Layer will use the funding to scale its AI platform and increase its workforce.
MARKET SNAPSHOT
Layer Well being, spun out of MIT, launched in 2023 with $4 million in funding from GV (Google Ventures), Basic Catalyst and Inception Well being.
Earlier this month, the corporate introduced a multi-year collaboration with the American Most cancers Society (ACS) to expedite most cancers analysis.
ACS will use Layer Well being’s LLM-powered knowledge abstraction platform to tug medical knowledge from hundreds of medical charts of sufferers enrolled in ACS analysis research.
One other firm that makes use of pure language processing to research and summarize EHRs is DigitalOwl.
DigitalOwl raised $20 million in Collection A funding in 2022 and final 12 months scored a $12 million funding from insurance coverage large Reinsurance Group of America (RGA).
Final 12 months, DigitalOwl collaborated with Quest Diagnostics firm ExamOne with the goal of bettering the effectivity of document retrieval and evaluation by DigitalOwl’s View product. ExamOne supplies risk-assessment instruments for the life insurance coverage trade with a set of providers geared toward streamlining the underwriting course of.
