Total amount raised
$119.2 Millions
Latest funding date
11/1/2021
Location
Notable has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The AI platform for healthcare operations continues to innovate, automating millions of workflows daily.
Keep reading to explore the intricacies of Notable's fundraising journey and the investors backing this transformative platform.
What Is Notable?
Founded in 2017, Notable is an AI platform for healthcare operations based in San Mateo, California. The company was established by Adam Ting, Justin White, and Pranay Kapadia.
Notable automates workflows in healthcare, including registration, scheduling, and care gap closure, enhancing efficiency and patient care. The platform integrates seamlessly with existing systems to streamline operations.
With a team of 251-500 employees, Notable continues to innovate, driving significant improvements in healthcare administration and patient outcomes.
How Much Funding Has Notable Raised?
- Seed Round
- Amount Raised: $2.7M
- Date: December 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their AI platform for healthcare operations.
- Seed Round
- Amount Raised: $3M
- Date: May 2018
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and refine their AI technology for healthcare automation.
- Series A
- Amount Raised: $13.5M
- Date: September 2018
- Lead Investors: F-Prime Capital, Oak HC/FT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand market reach.
- Series B
- Amount Raised: $100M
- Date: November 2021
- Lead Investors: ICONIQ Growth
- Valuation at Round: $600M
- Motivation Behind the Round: To expand access to the platform and enhance its capabilities.
Total Amount Raised: $119.2M. Current Valuation: $600M.
Key Investors
- ICONIQ Growth
- Details: ICONIQ Growth is a growth equity firm that partners with exceptional entrepreneurs and leaders to drive global impact and change. They focus on building enduring company cultures and leveraging ICONIQ Capital’s ecosystem.
- Investment Focus Areas: Technology, software, internet companies.
- Notable Investments: Snowflake, Datadog, Uber.
- F-Prime Capital
- Details: F-Prime Capital is a global venture capital firm investing in healthcare and technology. They have a strong track record in biotech, medtech, and healthcare IT.
- Investment Focus Areas: Healthcare, technology, financial services.
- Notable Investments: Ultragenyx, Denali Therapeutics, Orchard Therapeutics.
- Oak HC/FT
- Details: Oak HC/FT is a venture and growth equity firm investing in healthcare and financial technology. They aim to partner with companies that are transforming these sectors.
- Investment Focus Areas: Healthcare, financial technology.
- Notable Investments: One Medical, Devoted Health, Poynt.
- Greylock
- Details: Greylock is a venture capital firm that partners with entrepreneurs to build market-transforming companies. They have a history of investing in early-stage technology startups.
- Investment Focus Areas: Consumer and enterprise software, social media, cloud computing, cybersecurity.
- Notable Investments: Facebook, LinkedIn, Airbnb, Dropbox, Workday.
What's Next for Notable?
As the healthcare AI market is projected to grow significantly, Notable stands at the forefront of this transformation. The company’s platform, which automates various administrative tasks, is already saving providers over 700 hours of work annually. With the market expected to reach $51.3 billion by 2027, the opportunities for Notable are vast, including expanding its technology to other markets and adjacent segments like health insurance.
Given the rapid growth and increasing demand for automation in healthcare, Notable is well-positioned for future fundraising opportunities. The successful Series B round, which raised $100 million, indicates strong investor confidence. This financial backing will likely continue as Notable enhances its platform capabilities and expands its reach.
However, the path forward is not without challenges. The competitive landscape of the healthcare AI market and the complexity of integrating their technology across diverse healthcare systems could pose significant hurdles. Ensuring the scalability and reliability of their AI solutions will be crucial as they navigate these challenges and continue to innovate in the healthcare sector.
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