Bot MD, a Singapore-based Artificial Intelligence (AI) clinical assistant platform, announced today it has closed a US$5 million Series A funding round led by Monk’s Hill Ventures.
Also participated in the round were existing and new investors SeaX, XA Network and SGInnovate, besides angels such as healthcare professionals Yoh-Chie Lu and Jean-Luc Butel and Silicon Valley entrepreneur Steve Blank.
As per a press note, the fresh funds will bankroll Bot MD’s growth within the Asia Pacific region with the expansion of its platform into Indonesia, the Philippines, Malaysia, and India.
Besides, the healthtech startup will expand its design and engineering teams to develop new clinical applications and integrations for its platform
Launched in 2018, Bot MD is a clinical assistant which provided doctors with answers to their clinical questions. It allows hospitals and healthcare organisations to integrate their electronic medical records and hospital information systems within their platform for doctors to access.
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Bot MD said its proprietary Natural Language Processing (NLP) technology has been used by over 13,000 doctors globally, including notable local medical institutions such as the Singapore General Hospital and National University Health System.
The company claims it grew its user base in Singapore from 20 doctors in January 2020 to over 5,200 clinical users by the end of 2020.
“We believe that we can help every doctor in the world save time and improve the quality of patient care by making it more convenient to access the clinical information that they need, wherever they are,” said Dorothea Koh, CEO and co-founder of Bot MD.
“The global pandemic has added tremendous pressure on healthcare systems around the world and reinforced the need for efficient operations and productive healthcare professionals. Unlike other pure SaaS enterprise players, the team’s extensive experience in the healthcare industry have given them deeper insights into the real pain points of doctors and hospitals,” said Michele Daoud, Partner of Monk’s Hill Ventures.
In January, the company launched a pilot with Parkway Radiology to enable its affiliate network doctors to use its AI assistant platform for clinical ordering and scheduling of radiology exams, as well as to view patient radiology reports and scans through integration with Parkway’s existing systems.
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Image Credit: Bot MD
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