What You Should Know:
– Freed, a provider of AI-powered clinical documentation solutions raises $30M in Series A funding round led by Sequoia Capital.
– The funding brings Freed’s total funding to $34M and solidifies its position as one of the fastest-growing health tech companies in the U.S.
Addressing the Burnout Crisis
Clinician burnout is a pervasive problem in healthcare, with serious consequences for both providers and patients. Clinicians spend an average of 19 hours per week on paperwork and administrative tasks, contributing to burnout and stress. Freed’s AI-powered platform addresses the critical issue of clinician burnout by automating documentation and streamlining workflows.
The company’s flagship product, an AI scribe, captures and transcribes patient encounters, generating comprehensive medical notes in real-time. This technology saves clinicians an average of 2 hours per day, allowing them to focus on patient care and reduce administrative burden.
Expanding AI Capabilities
Freed is also unveiling new AI-powered features that extend its platform beyond note-taking:
- Specialty-specific notes: Tailored notes for different clinical specialties.
- Custom template builder: Personalized documentation that adapts to individual clinician preferences.
- Pre-charting: AI-generated patient summaries and follow-ups to prepare clinicians for patient visits.
- EHR integration: Seamless integration with existing clinical workflows through a browser extension.
Rapid Growth and Adoption
Since its launch in 2023, Freed has experienced remarkable growth:
- Over 17,000 paying customers: The company’s direct-to-clinician model has fueled rapid adoption across 96 specialties.
- Significant time savings: Freed has saved clinicians over 2.5 million cumulative hours of documentation time.
- Strong financial performance: The company is experiencing 4x year-over-year revenue growth.
“Freed was built as a love letter to clinicians—starting with my wife, a family physician,” said Erez Druk, Freed’s Co-Founder and CEO. “My wife and her fellow clinicians dedicate their careers to caring for others, and they deserve to have a company that dedicates itself to caring for them. They deserve to live balanced lives that allow them to recharge.“
