New York, USA-based no-code platform enabling clinicians and hospitals to easily make their own apps for use at the point of care, AvoMD raised USD 5 million in seed financing. The round took place on June 23, 2023. Early-stage venture fund AlleyCorp led the financing for the company. Meanwhile, Las Olas, Epsilon Health, MedMountain Ventures, and notable physician angel investors such as Dr. Kavita Patel, Venture Partner at New Enterprise Associates and Senior Policy Advisor at Stanford University, joined in the financing.
Existing investors such as Mirae and Dunamu, along with other investors including Columbia University, Mount Sinai Innovation Partners, StartUp Health, and 500 Startups invested in the seed funding.
What the company’s official has to say
Joongheum Park, MD, AvoMD’s Chairman and Head of Product/Engineering, said, “For too long, clinical technology has mostly overwhelmed us or not fit in our workflow, exacerbating burnout. We’re here to change that. AvoMD is a copilot for clinicians, working alongside them and empowering them to provide the highest quality of care. We are thrilled to have a partner like AlleyCorp to support this vision and the next chapter of growth at AvoMD.”
What the investors have to comment
Brenton Fargnoli, MD, Managing Partner of AlleyCorp Healthcare, further added, “We’re partnering with AvoMD because they are a team of clinicians who understand the unique issues doctors face and how the right technology can solve them. As clinicians ourselves, we acutely understand the challenges of integrating clinical evidence into the workflow and the subsequent effects on burnout and patient outcomes. Having seen how quickly the AvoMD product is being adopted by other clinicians across a variety of settings, we are particularly excited to support this next phase of growth.”
About the company
Dr Joongheum Park, Laurence Coman, and Yair Saperstein launched the company in 2018. AvoMD operates as an AI-enabled, no-code application builder. The solution allows clinicians and hospitals to build their own applications. It can work for any speciality, in any setting, for every clinician type. It allows them to work in cases like interactive clinical guidelines (i.e. sepsis, COVID), medical calculators, billing support, documentation automation, and more. The company has already developed standardized integrations with the largest electronic health record systems in the US. It further allows organizations to efficiently deploy the solution. AvoMD also supports AI model integration. It further enables doctors to incorporate clinical predictions based on AI at the point of care.
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