Predoc, an AI-driven health information management startup, announced it has raised $30 million in seed and Series A funding to modernize the way healthcare providers manage medical records. The funding round was led by Base10 Partners, with participation from Northzone, Eniac, ERA, and angel investors from Flatiron Health, Thirty Madison, and Blackstone.
Founded in 2022 by Nishant Hari, Dr. Kaushal Kulkarni, Dr. Priya Mehta, and Alex Daniels, Predoc leverages artificial intelligence to automate medical records retrieval and analysis. The company’s mission is to reduce administrative burdens in healthcare and enable physicians to focus more on patient care.
Dr. Kaushal Kulkarni, a practicing neuro-ophthalmologist and cofounder of Predoc, explained, “People think the role of technology is to help diagnose the patient, but that’s not the issue. Diagnosing is the easiest part of medicine. That’s what doctors love to do. The hard part is everything before and after. The role of technology is to remove all the burdensome administrative tasks now put on doctors and allow them to just do their actual job.”
Highlighting the challenges faced by clinicians, Dr. Kulkarni added, “The fax machine still exists, but only in healthcare. Someone goes out and retrieves records from the hospital basement and proceeds to put 1,000 pages basically fax records on my desk. ‘Here you go, doctor. Have fun.’ And now it’s my job, in the middle of a busy clinic where patients are already waiting half an hour or more, to flip through 1,000 pages and try to figure out what’s going on with the person in front of me who needs help.”
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Predoc’s rapid growth underscores the demand for its solution. “Within six months we were doing about half a million dollars in revenue, and that’s when we got preempted for our seed round,” said cofounder Nishant Hari. “Fast forward to today, we’ve got about 35 customers that rely on our retrieval and analysis products. In many cases, we’ve become the fully outsourced solution, replacing their internal legacy teams.”
The company emphasizes that its technology is designed to empower not replace clinicians. Hari stated, “We’re not one of those companies that thinks tech and AI will completely replace doctors. One of our core values is to amplify clinical expertise to help physicians get to their decisions quicker. We’re not looking to replace clinical judgment.”
Investors see a massive opportunity in Predoc’s approach. Dani London, investor at Base10, noted, “Health information management, or HIM, is a fragmented market that’s massive and severely underserved. For context, the top HIM service providers only serve the top 10% of the market yet the five largest service providers do about $2 billion in revenue annually. Much of this market wasn’t addressable because of the high overhead of legacy providers. Others were left with manual solutions or in-house teams spending hours on email, phone, and fax. Predoc’s approach effectively unlocks the other 90% of the market. Not only does this create a huge opportunity for Predoc, but it also allows care coordinators and health admin teams across the ecosystem to focus on high-impact work.”
Since its inception, Predoc has aimed to reimagine health information management by addressing inefficiencies that contribute to physician burnout and long patient wait times. With this new round of funding, the company plans to accelerate product development, expand its customer base, and scale its impact across the healthcare ecosystem.