Mendel raises US$18 in Series A to boost clinical AI capabilities

Healthcare AI technology leader Mendel Health has reportedly raised US$18 million in a Series A funding round led by venture capital firm DCM and participation from Millennium Technology Value Partners, Zola Global Investors, and OliveTree. Return investors include Bootstrap Labs, SOSV, Launch Capital, and UCSF Health Hub Chairman Mark Goldstein.   

The funding, according to Mendel, will help the company expand its business and sales team to keep up with the surging demand for clinical AI technology from healthcare organizations.

For the record, Mendel Health is the company behind the clinical AI platform that can understand the unstructured, natural language content in medical documents.

As per sources close to the matter, the company will make global strategic hires across sales, communications, human resources, and business development to increase headcount at its offices in San Jose, California and Cairo, Egypt by up to four times by Q1 2022.

Mendel Health has been working for the last few years towards developing an end-to-end platform that can interpret unstructured patient data quickly and intelligently. Mendel’s mission is to create a machine that can learn from each patient’s journey, Mendel founder and CEO Dr Karim Galil noted.

Kyle Lui, Mendel’s board member and partner at DCM, said that there is enormous potential for the healthcare community to leverage AI and Mendel will continue to work towards taking its technology to its next stage of growth.

Recently, Mendel Health also announced a strategic collaboration with eFax, an online faxing solution which is part of IT services company J2 Global’s Consensus Cloud Services Division.

With this partnership, every fax machine in healthcare settings could be analytics ready as Mendel’s proprietary tools will be integrated as part of the partnership. Mendel’s partnership with eFax has massive potential across healthcare and beyond as 90% of all healthcare providers still use fax machines as the primary method of sharing patient information.

 

Source: https://www.businesswire.com/news/home/20210607005621/en/Clinical-AI-Technology-Leader-Mendel-Raises-18M-in-New-Capital