Spain-based patient information analysis service Savana Médica has raised $15m in a series B round featuring insurance firm MACSF.
Cathay Innovation, the venture capital fund operated by private equity firm Cathay Capital, led the round, which included investment firm Seaya Ventures.
Founded in 2014, Savana Médica provides an artificial intelligence-equipped tool that leverages natural language processing, machine learning and deep learning to gain insights into patients’ health using clinical data including notes and documents.
The software has handled 400 million health records in English, French, German and Spanish for more than 100 medical facilities. The company will use the funding to relocate its headquarters from Madrid to the US city of New York.
Seaya Ventures had previously backed a €3.8m ($4.4m) round for Savana in 2018 together with unnamed existing angel investors.
Stanislas Subra, head of venture capital for MACSF, said: “We are delighted to invest in Savana alongside Cathay to bring faster innovation to physicians through its cutting-edge tech platform and so build a better healthcare ecosystem.”