• Regard announces on Thursday, the close of a $61 million Series B funding round from Oak HC/FT, increasing its valuation to $350 million.
  • Regard is set to be a key player in the digital transformation of healthcare.

OUR TAKE
“Technology is the new oil. ” Regard uses artificial intelligence to mine thousands of data points in medical records to analyse patient health data, helping doctors improve diagnostic accuracy and save time, as well as delivering value to hospital financial administrators. Regard is forging a path for health systems and physicians to meaningfully leverage artificial intelligence to enable every physician to deliver world-class healthcare to everyone.
–Elodie Qian, BTW reporter

What happened

Digital health startup Regard announces on July 11, 2024, the close of a $61 million Series B funding round from Oak HC/FT, increasing its valuation to $350 million.

The investment will enable the company to leverage its core clinical insights platform to accelerate product development, invest in basic research in large-scale language modelling (LLM) and expand beyond inpatient facilities.

The AI-driven company, which helps doctors diagnose patients more accurately by analysing health data, has seen substantial revenue growth and is projected to be profitable within two years. The investment will accelerate Regard’s expansion in the healthcare technology sector.

Regard is set to be a key player in the digital transformation of healthcare.

“Regard is positioned to revolutionise how we think about clinical decision-making support for doctors,” said Nancy Brown, General Partner at Oak HC/FT.

“Cedars-Sinai has been working alongside Regard from the early days of the business because we saw a real need to empower physicians with the data that can provide critical analysis and insights to assist in diagnosis and treatment,” said Maureen Burgess, partner at Cedars-Sinai Health Ventures. “And, even more importantly, we believe it will improve patient care as well as the patient experience.”

Also read: How is digital transformation changing the healthcare industry?

Also read: What is digital transformation in healthcare?

Why it’s important

Regard is the leading AI clinical insights platform that unlocks the full potential of patient data. Regard’s Clinical Intelligence Layer drives the future of healthcare by enhancing clinical workflows and transforming data into actionable insights. This technology helps health systems get the most value from their clinical data: improving patient care, saving physicians time, and revitalising hospital finances.

Since launching in 2021, Regard’s technology has delivered more than 3 million diagnoses to care teams and generated more than $50 million in incremental revenue for enterprise health system partners, including Banner health and Sentara. Most recently, the company announced a partnership with WakeMed Health & Hospitals, a leading health system in Raleigh, North Carolina.

“Imagine a doctor having all the EHR (electronic health records) information they need about a patient, right in front of them, in just seconds. Regard is augmenting patient care by analysing overwhelming mountains of clinical data and providing clinicians with potential diagnoses and treatment recommendations, impacting the quality and safety of care in real-time,” said Eli Ben-Joseph, CEO at Regard.

“That’s a game-changer – not just for doctors, but for the people whose lives are in their hands.”