Acodis, a provider of a cloud-based document processing platform for healthcare and pharmaceutical companies, raised $6.5 million in Series A funding from Hi Inov and VI Partners.
The startup plans to use the new funds to further build and commercialize its document process automation solutions that unlock unstructured data from medical documents.
Unlocking unstructured data from documents
“Our mission is to help businesses make better use of unstructured data from documents (PDF, word, scans, etc.). We have built a no-code platform that allows business users to set up and customize AI models for any document type and in any language. The solution is already helping pharmaceutical companies that face ever-increasing regulatory, risk, and compliance requirements,” Acodis said in a press release.
Commenting on the funding news, Acodis CEO Martin Keller said:
“The financing is a clear sign of Acodis’ market relevance and the value we provide to our customers.” “We note an accelerating demand from enterprises to unlock unstructured data from documents for business process automation and for enabling data analytics initiatives.”
Investors
VI Partners are venture capitalists who have successfully financed outstanding teams and innovations in the Healthcare and Technology space for 20 years. Their latest investment portfolio includes – Vara $4.5 million, Altoida $20.3 million, CeQur $115 million, and Altoida $6.3 million.
Commenting on the funding news, Managing Partner at VI Partners, Olivier Laplace, said: “As part of their digital transformation efforts, corporate players need to streamline their document-intensive processes and unlock valuable information trapped inside documents. The market is gigantic. We have been excited by Acodis’ user-centric approach to building a platform for data extraction that enables companies to process complex and non-standard documents at speed and at scale.”
Medical/clinical document management software startups have raised nearly $1 billion in funding to date, according to our funding database.
More recently, Aesop Technology, a provider of AI-guided medication management and clinical documentation tools for spotting incorrect diagnoses, raised $2.9 million in seed funding led by Taiwania Capital with participation from Colopl Next, 500 Startups, and BE Capital.
In another deal, Robin Healthcare, a provider of AI-powered intelligent clinical documentation assistant devices for doctors, raised $50 million in Series B funding. Scale Venture Partners led the round with participation from Khosla Ventures, Norwest Venture Partners, Social Leverage, Meridian Street Capital, and IA Ventures.
