Clinical AI Assistant Startup Navina Raises $22M
AI medical assistant startup Navina has raised $22 million in a Series B funding round led by Alive Israel HealthTech Fund. Navina offers healthcare providers an AI-powered platform for collating, organizing, and fetching patient data of a sort that has seen rapid development and adoption in the last couple of years.
Navina’s AI is trained to understand and sort an avalanche of medical data into a form that primary care physicians can parse without getting overwhelmed. The Israeli startup claims its technology can ensure that doctors are seeing the right information when they need it, including medical histories and tentative suggestions for care plans based on multiple data sources. Navina, which means “together we understand” in Hebrew, describes its goals as providing better service for patients while reducing the time and effort doctors spend on manually paging through patient information, a common cause of burnout for physicians. An American Academy of Family Physicians report found using Navina cut down necessary pre-visit preparation time for doctors by 61% while improving the accuracy of diagnoses.
“Our mission, from the beginning, has been to give physicians the time and confidence they need to stay ahead of their patients’ health, and to transform the physician-patient interaction, changing it from reactive to proactive,” Navina CEO Ronen Lavi said. “As Israel’s top HealthTech fund, whose leaders are former directors of the country’s largest hospitals and medical centers and accomplished investors, ALIVE is the ideal partner for this journey.”
Navina’s new capital doubles its total funding and follows a $15 million round a year ago. The company has leveraged the cash to rapidly scale up, adding thousands of new users this year and hitting upping revenue ten times higher since April. Navina’s next plan is to raise its presence in the U.S. and enhance its AI platform. The startup face plenty of competition from the growing number of clinical AI startups and services. Startups are seeing significant funding, like ambient medical voice AI platform DeepScribe’s $30 million, the $55 million raised by doctor voice assistant startup Suki, and the $100 million raised by Notable for similar technology. That kind of opportunity is also why Oracle spent $28.3 billion for health technology developer Cerner and its clinical AI assistants and Nuance’s acquisition of medical voice AI startup Saykara certainly contributed to the $19.7 billion price Microsoft paid for it.