What You Should Know:
– M12, Microsoft’s venture fund invests in Andor Health’s AI-driven virtual health platform.
– The funds will be used for accelerating sales and marketing by expanding into new markets beyond the U.S. Additionally, the funds will be leveraged for investing in enhanced R&D engineering.
Andor Health, the company that harnesses machine and human intelligence to change the way care teams connect and collaborate, announced a successful Series A fundraise led by M12, Microsoft’s venture fund. M12’s investment in Andor Health comes as the company has shown quick growth and success with ThinkAndor its artificial intelligence and machine learning-powered virtual health platform.
Real-Time Care Collaboration
Over the last decade, data stored in electronic medical record (EMR) systems has grown by over 200%. As a result, physicians and nurses spend too much of their time staring at screens and searching for information – than caring for patients. Burdened by information overload and alert fatigue, it’s no wonder clinician stress and burnout are such a widespread problem.
Founded in 2018, Andor Health provides clinicians a better way of accessing real-time actionable intelligence – when and where they need it to make more efficient treatment decisions for patients. Andor Health’s ThinkAndor uses AI and machine learning to help configure the pre-and post-visit patient experience, while the AI virtual assistant delivers relevant clinical content from the electronic health record (EHR) in the virtual health session. ThinkAndor improves the delivery of virtual care in a number of unique ways, including:
-Securely bringing patient and clinical context from source systems, like the EHR, directly into virtual visits
-Enabling natural language processing for voice dictated notes and recommending tasks to be pushed into the EHR
-AI/Bot driven configuration of virtual visits
-Managing and configuring a virtual waiting room
-Enabling post-visit triggers and notifications to clinicians and care team members.
“I am proud that Andor chose M12 to lead their Series A round. Their ML-powered virtual patient care platform is already demonstrating positive ROI for their customers, mitigating appointment drop-off and saving physicians time during patient encounters,” said Microsoft Corporate Vice President and Global Head of M12, Nagraj Kashyap. “While the global pandemic has accelerated the pace of change, virtual health interactions and transactions are here to stay. Andor Health’s capabilities are critical in the new normal.”
M12, Microsoft’s venture fund, invests in enterprise software companies primarily in the Series A through C funding stages with a focus on applied AI, business applications, infrastructure, security, and vanguard technologies. As part of its value-add to portfolio companies, M12 offers unique access to strategic go-to-market resources and relationships globally. M12 has offices in San Francisco, Seattle, London, Tel Aviv, and Bengaluru.