Bright.md raised more money for its AI-powered virtual healthcare service as the Portland, Ore.-based startup helps screen patients with COVID-19-like symptoms.
B Capital and Seven Peaks Ventures led an $8 million Series C round. Total funding to date is $20.5 million.
Founded in 2012, Bright.md’s SmartExam platform serves as a “virtual physician assistant” for primary care providers, gathering information from patients who submit clinical surveys, select pharmacies, and enter insurance information. A physician then receives an alert and may suggest treatment based on the patient’s answers within minutes.
The software is meant to help physicians treat patients more quickly and efficiently without having them actually step foot inside an office.
Bright.md added a COVID-19 evaluation tool to SmartExam’s existing modules within a week of the first reported U.S. case in Washington state. Since then, they’ve helped identify more than 1,200 patients in need of further evaluation and testing.
Ray Costantini, co-founder and CEO of Bright.md, said the funding will help speed up the company’s market expansion amid the novel coronavirus outbreak. He noted that SmartExam can also help patients with non-COVID-19-related symptoms as hospitals deal with capacity issues.
“While COVID-19 care is critical now, patients continue to face other conditions and need treatment. Understandably, many people will not want to risk leaving home and being exposed to COVID-19,” he said in a statement. “We want to make SmartExam available to every health system nationwide and around the world, because that means we are freeing their providers to treat the sickest patients without neglecting the rest. With this funding and team, and incredibly supportive investors, we’re even better equipped to do so.”
B Capital General Partner Karen Page joined Bright.md’s board as a result of the new funding.
The COVID-19 outbreak has led to a surge in telemedicine demand. Pacific Northwest healthtech startups such as 98point6 are also providing similar virtual healthcare services.
Other healthtech companies are helping in different ways. Two Seattle startups, MDmetrix and TransformativeMed, are working together to offer trends and insights to hospitals free of charge for COVID-19 cases.
Source: Geek Wire
