The company plans to use the fresh funds to enhance its commercial initiatives and expedite product development. Credit: MUNGKHOOD STUDIO/Shutterstock.

Suki, a startup specialising in artificial intelligence (AI) assistants for the healthcare sector, has raised $70m in its Series D funding round.

The funding round was spearheaded by UK-based tech investment firm Hedosophia, with additional backing from Venrock and March Capital.

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The financing round was also joined by Breyer Capital, Flare Capital, and inHealth Ventures.

This latest influx of capital elevates the company’s total funding to $165m.

Although the company did not disclose its valuation, sources familiar with the funding told Reuters that the latest round values Suki at approximately $500m.

The company plans to use the fresh funds to enhance its commercial initiatives, expedite product development and bolster its leadership team.

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With a surging demand for generative AI-powered applications in healthcare, Suki has experienced rapid growth, with more than a dozen major health systems and hospitals deploying or expanding access to its solutions in the past two months, the company noted.

The company’s product suite, including Suki Assistant and Suki Platform, aids in streamlining administrative tasks for clinicians and enabling technology partners to build AI experiences.

An AI-powered tool, Suki Assistant helps clinicians save time on administrative tasks by creating notes, taking dictation and commands, streamlining coding, and retrieving relevant chart data from electronic health records (EHRs).

Suki Platform, the underlying engine of Suki Assistant, offers developer tools for integrating AI and voice capabilities into various healthcare solutions.

The company has collaborations in place with key EHR providers, including Epic, Oracle Cerner, MEDITECH, and Athena.

Under its partnership with MedStar Health, the company offers Suki Assistant to thousands of clinicians under MedStar Health across ambulatory specialties including primary care, cardiology, and gastroenterology, and settings including urgent care locations.

Suki CEO and founder Punit Soni said: “With the support of our investors, we’ll accelerate our growth, diversify Suki’s capabilities, and deepen relationships with strategic partners such as MedStar Health, one of the most important collaborators in Suki’s history.

“MedStar Health was fundamental in helping us build essential capabilities including our bidirectional and seemingly ‘invisible’ EHR integration, which is why we have the highest clinician adoption rates in the industry. Together, we have demonstrated how a technology company and health system can meaningfully innovate together and advance physician well-being and patient care.”