Caresyntax, which provides an AI-enabled, data-assisted surgery platform for surgeons, secured $180 million in a Series C extension and growth debt-expansion round.
The $180 million comprises $80 million equity and $100 million growth debt facility.
ProAssurance Corp., surgical.ai, Aescuvest, Cure Capital, Vesalius Biocapital, PFM Health Sciences, BIONIQ Capital, MTIP AG, Symbiotic Capital, Plug & Play Growth Fund, BlackRock Innovation Capital, Relyens, Pictet Alternative Advisors, Optum Ventures and Lauxera Capital participated in the round.
WHAT IT DOES
Caresyntax’s vendor-neutral platform collects, integrates and analyzes data preoperatively, intraoperatively and postoperatively using AI to provide surgeons with real-time clinical decision support aimed at improving the patient care journey and clinical workflows.
The data collected focuses on optimizing surgical preparation for clinical teams and patients, assisting with workflow management, and analyzing post-surgical risk assessment to personalize patient care.
The company, which is headquartered in San Francisco and has an office in Berlin, will use the funds to accelerate the adoption and enhancement of its technology, commercially scale its platform and support strategic acquisitions in the surgical automation space.
“This financing is not just an investment in Caresyntax, but an investment in the future of surgery. My gratitude extends to our investors who contribute to and believe in the power of smart data and AI usage in the operating room,” Dennis Kogan, cofounder and CEO of Caresyntax, said in a statement.
MARKET SNAPSHOT
In 2019, Caresyntax raised $45.6 million in financing. Two years later, it secured $100 million in Series C funding, with an additional $130 million extension added to its Series C round later that year.
In 2022, the company announced a collaboration with Intel, which invested in Caresyntax’s Series C round. The two companies planned to combine their technologies to develop new surgery-focused tools and enhance Caresyntax’s platform and AI capabilities.
The company also announced a partnership with Google Cloud. The pair created an application called InfluenceOR, which allows surgeons to publish and promote their surgical YouTube videos to build brand recognition and reputation.
The company has formed several other partnerships, including with innovation and research cloud computing platform Rescale, medical professional liability insurer ProAssurance, and the Applied AI Company, which would see the pair distribute software and AI offerings throughout the US, UAE and Europe.
Other companies employing AI in operating rooms include Johnson & Johnson MedTech, which announced a partnership with Silicon Valley giant NVIDIA in March to utilize AI to enhance real-time analysis and broaden the use of algorithms in surgical decision-making, education and collaboration within operating rooms.
Surgery tech company Apella offers AI-enabled sensors that can be installed in an operating room to collect data on surgeries. That data can be used to make medical decisions, train staffers and improve operations and patient outcomes. Apella scored $21 million in Series A funding in 2021.
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