Assort Health raises new funding to expand AI-driven tools that streamline patient communication and healthcare operations.
According to three sources who are acquainted with the transaction, Assort Health, a startup that employs artificial intelligence (AI) to automate patient communication for specialty healthcare practices, has secured approximately $50 million in a Series B round at a valuation of $750 million.
According to these sources, Lightspeed Venture Partners led the most recent round four months after the company’s $22 million Series A funding.
The AI voice agents of the company are intended to assume responsibility for high-volume, repetitive tasks, such as scheduling, cancellations, and frequently asked inquiries, which are typically handled by front desk staff. This will enable human staff to concentrate on more intricate or sensitive patient interactions.
Assort Health is one of numerous ventures that have recently secured additional funding to implement artificial intelligence (AI) to reduce the volume of patient phone calls in medical offices.
EliseAI, which automates customer services for real estate and healthcare office front desks, recently announced that it has secured a $250 million Series E headed by Andreessen Horowitz. This investment values the company at $2.2 billion.
Another AI-powered assistant for medical facilities, Hello Patient, raised a $20 million Series A earlier this month at a $100 million valuation led by Scale Venture Partners, according to a source familiar with the transaction.
The healthcare industry is increasingly adopting AI solutions, as evidenced by the increasing use of medical scribes from companies such as Ambience Healthcare and Abridge.
Investors are betting that patient communication will be the next significant area for AI implementation.
Because Assort Health provides services to small and medium specialty care offices that frequently experience lengthy wait times, providing prompt responses by an AI agent may result in these offices losing fewer patients to competing practices.
According to two sources, Assort Health is expanding rapidly, even though its annual recurring revenue (ARR) is slightly above $3 million.
The startup’s initial concentration was on orthopedic and physical care offices; however, it has recently broadened its offerings to include OB-GYN, dermatology, and dentistry.
Jon Wang, a former medical student who opted to pursue a career in entrepreneurship, and Jeff Liu, a former Facebook engineer, established Assort Health two years ago.
