Florida, U.S.A-based provider of an AI-powered ambient monitoring platform in healthcare, care.ai, raised USD 27 million in recent funding. The company announced the fundraise on November 21, 2022. A multi-asset investment firm focused on technology investments, Crescent Cove Advisors led the financing for the firm.

Purpose of financing for care.ai

With the latest capital injection, the company intends to fuel its growth operations. In addition, it has plans to invest towards scaling deployments of its smart care facility platform throughout the U.S.

The company has already deployed its technology to more than 1,500 facilities across the U.S., including hospitals, skilled nursing facilities, as well as assisted living facilities. Meanwhile, it has plans to build on its ongoing success and lead the market in delivering ambient intelligence to healthcare.

What the company’s official has to say

Speaking on the recent fundraise, CEO and Founder of care.ai, Chakri Toleti, said, “The physical, emotional, and economic burden on our caregivers has never been more challenging. Processes remain manual and time-consuming, and care teams are bogged down with burdensome tasks and documentation – and unfortunately, clinicians and patients suffer the consequences.”

Toleti further added, “Our mission is to enable the transformational promise of a smart care facility, providing a level of care the world has never seen. We’ve spent the last few years expanding our platform while partnering with the nation’s leading health systems and long-term care organizations. I’m thrilled to have the support of Crescent Cove as we continue to scale and execute.”

What the lead investor has to say

Jun Hong Heng, Founder and Chief Investment Officer at Crescent Cove Advisors, further commented, “We are excited to partner with Chakri and his talented team, who have a proven record of innovating and building successful businesses in healthcare IT. Through AI and smart technology, care.ai improves the lives of both care teams and their patients. We look forward to supporting the company in its critical mission of transforming the way healthcare is delivered.”

About the company 

In 2018, Chakri Toleti launched the company. The Florida-based company’s transformative innovation enables AI-powered smart care facilities. It helps to monitor clinical and operational workflows ambiently and learn from them in real-time to predict, prevent, as well as protect, optimizing the patient and provider experience and ultimately powering more human care. 

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.


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