Danish software company Corti.ai has raised $27m in a Series A funding round to support its use of artificial intelligence (AI) and machine learning for patient consultations.
The financing round was led by Vaekstfonden -The Danish Growth Fund and Chr. Augustinus Fabrik.
Fabrik joins Hearcore, Id Invest and byFounders, which are existing investors.
On contrary to most startups that use AI for image recognition, Corti aims to leverage the technology to enhance the workflow associated with patient consultations.
The machine learning platform of the company is designed to listen to patient consultations and aid in the documentation, coding and quality assurance of the interaction in real-time. This is expected to save time while lowering risk.
It leverages machine learning models to transcribe and study numerous variables within each consultation. Each patient’s symptom description is automatically compared to millions of other patients to deliver decision support in real-time.
Corti began with emergency medicine to support emergency calls on cardiac arrest and Covid-19 cases. Now, the company is supporting patient consultations by medical professionals across healthcare.
Multiple studies have shown that Corti can help medical staff provide the best results, the company said.
A Copenhagen Emergency Services research revealed that the company can potentially lower the number of out-of-hospital cardiac arrest cases that are not detected by more than 40%, with almost no personnel training required.
Corti CEO Andreas Cleve said: “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 Series A funds are expected to help increase the company’s annual patient base from 15 to 100 million consultations.
This fresh funding expands the $5m seed round raised in 2019, and Corti intends to use the funds to support its extension into primary care in the US.