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AI Startup Corti Raises $60 Million Aiming Health Care

Investors value the company behind AI co-pilot for medical professionals at $260 million.

Corti ApS, a medical software startup, has raised $60 million to sell an AI “co-pilot” to more hospitals and compete with Microsoft, Amazon and other tech giants racing into health care.

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Corti’s system is designed to transcribe calls made to emergency medics or doctor’s offices and then automate the paperwork process.

That can include preparing the documents needed for patient care and insurance and even offering guidance to medical professionals. Corti said it currently provides services to 60 hospitals and health networks across Europe, the UK and US.

The current AI frenzy has reignited tech’s interest in cracking the lucrative healthcare market after years of struggling to make a big dent in the sector.

Nuance, the voice transcription provider owned by Microsoft Corp., announced a “fully automated” service earlier this year for preparing clinician notes and documents. In July, Amazon.com Inc. introduced new AI features that can summarize doctor visits or make medical chatbots. Alphabet Inc. is working on similar tools.

Andreas Cleve, Corti’s co-founder and chief executive officer, said rising demand for health care gives him confidence his startup won’t be outmuscled by tech giants. “It’s a really, really big market,” he said. “There will be more than enough room for one player.”


Image: Startup