Qventus, a provider of AI-powered healthcare workflow automation software for health systems, announced its latest $105 million in a Series D funding round led by KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., an American global investment firm.
Bessemer Venture Partners and new strategic investors, including health systems Northwestern Medicine, HonorHealth, and Allina Health, also participated in the funding round.
KKR is funding the Series D investment round primarily from its Next Generation Technology III Fund.
The Series D funding round brings the valuation of Qventus to more than $400+ million, according to the TechCrunch reports.
Including the latest funding round, Qventus has more than $200+ million in funding to date, according to our Digital Health Funding Tracker. Existing investors include: Thomas H. Lee Partners (THL), Premier, Thedacare, Bessemer Venture Partners, Mayfield Fund, Norwest Venture Partners.
Since its inception in 2012, Qventus has built a suite of AI solutions deployed across leading health systems in the U.S. in both inpatient and outpatient settings.
“This capital primes us to continue maximizing our growth, delivering on our promises to our partners, and launching new, game-changing technology,” said Mudit Garg, CEO and Co-Founder of Qventus.
According to the official Qventus press announcement, Qventus will leverage the Series D funding to accelerate the development and commercialization of solutions powered by its AI Operational Assistants into new care settings beyond its Surgical Growth and Inpatient Capacity solutions.
“Enhancing team productivity by up to 50 percent, our AI teammates work alongside care teams to reduce the administrative burden, identify potential issues upstream, surface suggested interventions, and take action to solve problems for busy staff,” the hospital workflow automation company said in the press statement.