A crop of new investors joins existing financiers such as AI powerhouse NVIDIA
CHICAGO, Jan. 11, 2024 /PRNewswire/ — Artisight, Inc. (Artisight), a smart hospital platform powered by industry-defining artificial intelligence to provide virtual care, quality improvement and care coordination solutions, announced today that it raised $42 million in an oversubscribed Series B funding round. Multiple new strategic and client health system investors participated in the round, as well as full participation from Series A investors, including chipmaker NVIDIA (NVDA).
The Artisight platform, which was developed by clinicians for clinicians, marries IoT sensors with deep learning and open integration standards to streamline safe patient care, including virtual nursing. Artisight’s HIPAA-compliant capabilities include computer vision, voice recognition, vital sign monitoring, indoor positioning capabilities and actionable analytics reports. Leveraging these seamlessly integrated capabilities reduces clinicians’ documentation and coordination burden, increases their time for direct patient care, reduces administrative costs, and supports better patient outcomes and satisfaction.
“Our Series B round, which was oversubscribed by 2.4x, provides further validation of the results we have delivered for over 100 hospitals, evidenced by the fact that many of them are also investors,” said Artisight co-founder and CEO Andrew Gostine, MD, MBA. “With nearly 200 more hospitals undergoing implementation, it was clear we needed to grow to support our emerging client base. Healthcare is in the midst of a staffing, satisfaction and financial crisis. Our novel yet widely adopted approach to helping alleviate these problems has made Artisight the most validated all-in-one platform supporting remote nursing, ambient intelligence, and real-time health system applications.”
Providers implementing Artisight’s technology are seeing measurable results in the form of superior quality metrics and improved financial outcomes. For example, client Northwestern Medicine, an award-winning hospital system that encompasses more than 4,000 practicing physicians and twice as many nurses, reports:
52%
Reduction in
Nursing Overtime
89%
Reduction in
Patient Falls
76%
Reduction in
Nursing Turnover
“This success is a testament to our team and health system partners – but the real praise and our gratitude go to the nurses, physicians and hospital staff who have modernized clinical care through Artisight’s platform,” Gostine said. “We have learned immensely from them as we rolled out virtual nursing with AI co-pilots across the country and look forward to the publication of these results in the peer-reviewed literature.”
The company spends 64% of its resources on the development of new capabilities to solve existing and emerging problems. The funding will catalyze another doubling of headcount to keep up with demand for the Artisight platform. Artisight is the only true ambient intelligence platform with solutions developed and deployed in clinics, patient rooms and operating rooms.
“Through the support of our investors and clients, Artisight will continue to lead the AI-enabled clinical transformation that will deliver exponentially greater improvements for health systems,” Gostine said. “We are just scratching the surface of what is possible with ambient intelligence—the best is yet to come.”
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