How Much Did DeepScribe Raise? Funding & Key Investors

DeepScribe has successfully raised funds through multiple rounds, with the latest being a Series B. The company is backed by 16 investors, including Bee Partners and 1984 Ventures.

Keep reading to explore the intricacies of DeepScribe's fundraising journey and the investors backing this innovative platform.

What Is DeepScribe?

DeepScribe, founded in June 2017, is an AI-powered medical scribe platform based in San Francisco, California. The company was established by Akilesh Bapu, Kairui Zeng, and Matthew Ko.

DeepScribe leverages AI, machine learning, and natural language processing to automate medical note-taking for clinicians, capturing and transcribing clinical conversations in real-time. The platform integrates with EHR vendors and offers tools for customizing and auditing AI-generated documentation.

With a team of 101-250 employees, DeepScribe aims to simplify complex workflows, provide real-time insights, and improve clinical and financial outcomes for healthcare providers.

How Much Funding Has DeepScribe Raised?

1. Pre-Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: July 2017
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Initial funding to develop the core AI technology and establish the company.
2. Pre-Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: January 2019
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Further development and refinement of the AI platform.
3. Seed Round
   • Amount Raised: $2M
   • Date: September 2019
   • Lead Investors: Bee Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale the platform and onboard initial users.
4. Seed Round
   • Amount Raised: $5.2M
   • Date: May 2021
   • Lead Investors: Bee Partners, Industry Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the user base and enhance AI capabilities.
5. Series A
   • Amount Raised: $30M
   • Date: January 2022
   • Lead Investors: Index Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate growth, improve medical documentation workflows, and expand the engineering team.
6. Series B
   • Amount Raised: $24M
   • Date: October 2023
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further scale operations and enhance AI technology.

DeepScribe has raised a total of $61.2M. The current valuation is not publicly disclosed.

Key Investors

• Index Ventures
  • Details: Index Ventures is a global venture capital firm that invests in technology-enabled companies. They have a strong track record of supporting innovative startups.
  • Investment Focus Areas: Technology, healthcare, innovative startups.
  • Notable Investments: Dropbox, Slack, Robinhood.
• Bee Partners
  • Details: Bee Partners is an early-stage venture capital firm that focuses on technology startups. They have been involved with DeepScribe since its early stages.
  • Investment Focus Areas: Early-stage technology companies, AI, machine learning.
  • Notable Investments: Indiegogo, StatMuse.
• 1984 Ventures
  • Details: 1984 Ventures is a venture capital firm that invests in early-stage technology companies. They are known for their hands-on approach with portfolio companies.
  • Investment Focus Areas: Early-stage technology companies.
  • Notable Investments: Not publicly disclosed.
• Stage 2 Capital
  • Details: Stage 2 Capital is a venture capital firm that focuses on scaling B2B software companies. They provide strategic guidance to help companies grow.
  • Investment Focus Areas: B2B software companies.
  • Notable Investments: Gong.io, Outreach.
• Alex Wang (CEO of Scale.ai)
  • Details: Alex Wang is the CEO of Scale.ai, a company that provides data annotation services for AI. He has a keen interest in AI and machine learning technologies.
  • Investment Focus Areas: AI, machine learning.
  • Notable Investments: Scale.ai.

What's Next for DeepScribe?

DeepScribe stands at the cusp of significant growth, with opportunities to deploy its AI technology across large health systems and expand its user base to more physicians. The platform's ability to save doctors time and reduce costs positions it well in the healthcare industry, which increasingly relies on AI and natural language processing. As the company scales, it aims to enhance its AI capabilities, potentially transforming patient outcomes through data-driven insights.

Future fundraising seems likely, given the company's ambitious plans and recent successful funding rounds. However, challenges such as ensuring the accuracy of AI-generated documentation and integrating with various EHR systems remain. Addressing these issues will be crucial for DeepScribe as it navigates the competitive landscape and strives to maintain data privacy and security.

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