Stanford University-funded accelerator StartX was an investor in the round, which was co-led by Mayfield and Norwest Venture Partners.
AnalyticsMD, a US-based, healthcare-focused artificial intelligence software developer, has raised $13m in series A financing from investors including Stanford University-funded accelerator StartX.
Venture capital firms Mayfield and Norwest Venture Partners co-led the round, which included startup accelerator Y Combinator.
Founded in 2011, AnalyticsMD provides software to improve the safety and efficiency of hospital operations by monitoring multiple sources of data, including electronic medical records and the weather, in real time in order to predict potential problems like an overflow of people in the emergency room.
The software is designed to become smarter over repeated interactions and recommend immediate actions, so that hospital personnel can respond quickly before problems occur in critical places such as perioperative areas.
The company plans to use the proceeds from the financing to boost product development and increase its marketing efforts, and has hired three new staff members as it continues to grow: Srinivas Mantripragada has been named head of engineering, Michael Mucha head of sales and Natalie Sunderland head of marketing.
AnalyticsMD was a participant in the winter 2015 batch of Y Combinator, raising $720,000 in a seed round that included the acccelerator as well as Fenox Venture Capital, Funders Club and angel investor Safa Rashtchy, TechCrunch reported in January 2015.
Funders Club and Y Combinator were also part of a $120,000 round in 2014, while FFL Startup Accelerator contributed an undisclosed sum in 2013, CrunchBase data shows.
Mudit Garg, chief executive of AnalyticsMD, said: “When it comes to health systems, operations is highly neglected. But it is important. It is where you will find the bulk of a hospital’s costs and it is also where we can really move the needle on patient satisfaction.”
