We are only two weeks into 2025, and a small handful of healthcare AI companies have already announced funding rounds exceeding $100 million — signaling a strong start to what investors predicted would be another hot year for AI in the healthcare world.
Last week, Innovaccer closed a $275 million round, and Hippocratic AI completed a $141 million round. This week, patient flow automation startup Qventus joined the fun.
The Palo Alto-based company closed a $105 million financing round led by KKR, with participation from Bessemer Venture Partners, Northwestern Medicine, Allina Health and HonorHealth. The Series D round brings Qventus’ total fundraising to date to about $200 million, said CEO Mudit Garg.
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Garg also pointed out that the country’s healthcare system is “overrun” by manual, antiquated processes that undermine providers’ commitment to providing quality care.
His company, founded in 2012, seeks to alleviate healthcare workers’ administrative burden by using AI to automate mundane tasks.
“Think of Qventus as an AI teammate working alongside a hospital’s care teams. We reduce the administrative burden, identify potential issues upstream, surface suggested interventions, and actually take action to solve problems for busy staff — a collective system of action that sits on top of their enterprise systems of record, such as an EHR,” Garg explained.
Qventus offers technology for various healthcare settings, he noted.
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For example, the company’s inpatient software automates early discharge planning to allow for greater bed capacity. Its perioperative solution uses AI to improve operating room scheduling processes to boost OR access and grow surgical revenue. Additionally, Qventus’ command center software automates processes related to patient demand management, care progression and post-acute placement.
Garg also noted that Qventus has more than 115 hospital clients, including Northwestern Medicine, Banner Health and ThedaCare.
In his view, Qventus competes with companies like LeanTass, Hippocratic AI and Epic. Garg thinks his company stands out for three key reasons — the first being that Qventus optimizes end-to-end workflows.
“Unlike point solutions that surface one-off interventions, Qventus goes deep to understand your entire workflow, and intelligently automates throughput,” Garg stated.
He also emphasized Qventus’ commitment to partnership. This involves taking a hands-on approach and working closely with partners to customize the technology for each organization’s specific needs.
“We operate in the trenches with every client day in and day out to ensure our solutions are optimized to solve their unique problems so they can achieve their strategic objectives,” Garg remarked.
The final differentiator he highlighted is Qventus’ ability to deliver measurable results.
Last year, Qventus’ technology eliminated more than 36,000 patient stay excess days and enabled 14,000 new surgeries to be scheduled, he said. Additionally, several hospital executives interviewed by MedCity News in the past couple years have said that they saw a robust return on investment after adopting Qventus’ technology, including leaders from Northwestern Medicine, Allina Health and Banner Health.
With its new influx of capital, Qventus plans to accelerate the development of its AI operational assistants, which were launched in August, Garg stated.
When asked if the company has any plans for a public exit in the next few years, he declined to comment.
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