Regard (formerly HealthTensor), an AI-driven clinical insight platform, has secured $61 million in a Series B financing round to improve its platform, expand product development, and advance research in large language models (LLMs).
Founded in 2021 by Eli Ben-Joseph, Nate Wilson, and Thomas Moulia, Regard’s latest funding round was spearheaded by Oak HC/FT. The latest round adds to the company’s $5 million seed funding raised in 2021 and $15.3 million Series A capital raised in 2022.
The new funding will help the company transform how clinicians use data and support its mission of bridging the gap between data available and clinical insights.
Regard’s funding shows investors confidence in its mission at a critical time when the healthcare sector is facing data underutilization. According to the World Economic Forum, only about 3% of available patient data is utilized despite the existence of about 5,000 data points per patient on average.
Regard AI Co-pilot
Regard’s AI co-pilot integrates with electronic medical records (EMRs) to help health professionals curate patients’ data, suggest suitable diagnoses, and generate clinical notes. This helps healthcare organizations to optimize patient data use and reduce the disparity in the utilization of available patient data.
Since its inception in 2021, the company has forged strategic partnerships to improve patient care through advanced technology, with the most recent one being with WakeMed Health & Hospitals. Last year, Regard partnered with OpenAI to use the AI startup’s GPT-4 technology to develop a chatbot known as Max.
According to the company, its platform has surfaced over 3 million diagnoses to healthcare professionals, generating over $50 million incremental revenue for its health system partners.