Smart Reporting, a technology startup founded by radiologists, has secured nearly $25 million in new funding. This was announced by company leaders on Monday, with TVM Capital Life Science leading the Series C financing round and contributing alongside Bayern Kapital and existing investors.
The company 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. With the new funding, Smart Reporting plans to enhance product development and establish international partnerships, expanding its presence in the U.S., Canada, Australia, and New Zealand.
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, praising the company’s groundbreaking technology already utilized by thousands of doctors worldwide.
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
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