Smart Reporting, a technology startup founded by radiologists, has recently secured nearly $25 million in new funding, according to company leaders who made the announcement on Monday. TVM Capital Life Science, based in Munich, Germany, led the Series C financing round with contributions from Bayern Kapital and existing investors.
Founded in 2014 by Wieland Sommer, MD, a professor of radiology at the University of Munich, Smart Reporting is now led by him as co-CEO. The company currently employs a team of 80 doctors, data scientists, and software engineers. With the new funding, the company plans to enhance product development and establish international partnerships.
Smart Reporting aims to change the way medical documentation takes up approximately 40% of a physician’s day by automating and streamlining workflows specifically focusing on imaging. The company’s groundbreaking technology already utilized by thousands of doctors worldwide will help drive innovation in healthcare with the help of new technologies such as AI and machine learning.
Dr. Hubert Birner, managing partner at TVM Capital Life Science highlighted the importance of new technologies such as AI and machine learning in driving innovation in healthcare. He expressed confidence in Smart Reporting as a future international market leader in radiology and pathology. The company’s software offers voice-controlled documentation with automated workflows and valuable data insights which can revolutionize medical documentation process for physicians worldwide.
