Health technology startup Tennr, has secured $37 million in Series B funding round spearheaded by Lightspeed Ventures to fuel growth and expansion efforts.
The round was also backed by Foundation Capital and a16z, bringing the company’s cumulative capital contributed to date to $61 million, barely six months after it closed its $18 million Series A funding round earlier this year.
Co-founded in 2021, Tennr has developed a healthcare workflow automation for tracking patient referral process. The platform uses an AI-driven document analysis tool to help healthcare organizations analyze and document thousands of healthcare paperwork.
Speeding Up Hospital Document Processing Using AI
Tennr’s software automates the usually labor-intensive medical document handling tasks involving medical insurance claims, patient records, referral forms, and other essential documents, saving hospitals many hours of labor that could be directed to offering patient care.
Designed to serve the specific needs of the medical industry, Tennr’s platform features workflow automation and AI-powered document pursing capabilities that simplify work for medical staff.
Unlike other general-purpose large language models developed for use in every industry, Tennr’s AI algorithms have been trained using medical documents, allowing it to read and categorize various documents used within the healthcare sector.
Such documents include patients’ intake forms, which are always difficult for standard AI models to read since they usually contain handwritten texts. This helps healthcare organizations improve accuracy, reduce the time used for document processing, and increase the time available for patient care.
