Surely, the human arsenal carries all sorts of valuable traits, but if we are being honest, it doesn’t have anything more valuable than our tendency to get better on a consistent basis. This tendency, in particular, has allowed us to hit upon some huge milestones, with technology appearing as a major member of the stated squad. The reason why we hold technology in such a high regard is because of its skill-set, which was unique enough to realize all the possibilities for us that we couldn’t have even imagined in an alternate reality. Nevertheless, a closer look would reveal how the whole runner was also very much inspired by the way we applied those skills across a real-world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, including a timely appearance on our healthcare block. Technology’s foray into healthcare came at the perfect moment, as it materialized right when the sector was beginning to struggle against its own obsolete structure. Fortunately, this reality went through a complete overhaul under the new regime, but even after going so far, the new and budding medtech concept will somehow continue to deliver all right goods. The same has turned more and more evident on the back of our recent progression, and truth be told, a new funding does a lot to keep that trend alive and kicking.
Carta Healthcare, a San Francisco-based provider of clinical data management solutions, has successfully secured over $20 million in Series B financing. According to certain reports, the round saw close participation from the likes of Mass General Brigham, American College of Cardiology, CU Healthcare Innovation Fund, Asset Management Ventures, Maverick Ventures Investment Fund, Frist Cressey Ventures, Paramark Ventures, and Storm Ventures. As for how the company plans on using the newly-raised cash, it will dedicate a bigger chunk towards supplementing its sales and marketing efforts so to expand overall customer base.
Founded in 2017, Carta Healthcare started out with a core intention of reducing the time clinicians spend on mundane administrative tasks. The company’s concern about the issue was well-founded, considering a research from JAMA Internal Medicine also confirmed that, on average, US physicians spend nearly 2 hours each day just to complete the relevant documentation. Hence, to address the problem, Carta would launch a line of ingenious products. Talk about company’s product line, it has three main components at the moment, and they are Atlas, Navigator, and Semaphore. Atlas, on its part, is basically an AI-powered data abstraction tool that hospitals use to submit patient data to clinical registries. Moving on to Navigator, it’s an insights tool designed to analyze a healthcare organization’s data for the purpose of generating recommendations on how to improve operational workflows. The most recent one is, of course, Semaphore, which is actually a development platform that lets healthcare organizations build their own data science tools and AI models as per their specific needs.
“Carta Healthcare is incredibly excited and thankful for this funding round, which will help us scale the business and further realize our mission to make healthcare more accessible, efficient, scalable, effective, and affordable for patients across the United States,” said Matt Hollingsworth, co-founder and CEO of Carta Healthcare. “We look forward to continually helping reduce the administrative burden and data entry fatigue among healthcare workers so they can spend their time and energy on research and face-to-face patient time and share best practices to improve patient outcomes.”
Although there are many companies that provide specialized clinical data management technology, Carta sets itself apart by having a diverse product portfolio. This ability to cater different needs has, so far, helped the company in entering more than 245 hospitals across 18 health systems. The stated list of clientele also includes some big names, such as Stanford Health Care, Mass General Brigham, CommonSpirit Health, UCSF Health, and many more.
