AI Health Startup Caresyntax Raises $180M to Bring AI Smarts to the Operating Room

Caresyntax, a leading vendor-neutral precision surgery platform, has announced a significant funding round of $180 million. The financing, which includes a Series C extension and growth debt expansion, comprises $80 million in equity and up to $100 million in growth debt facility.

The funding round attracted a diverse group of investors, including Symbiotic Capital, MTIP AG, BIONIQ Capital, PFM Health Sciences, Pictet Alternative Advisors, surgical.ai, BlackRock Innovation Capital, and several others.

Caresyntax’s platform aims to transform surgery by implementing a scalable, end-to-end software and AI solution. The medical-grade, interoperable platform captures novel data and provides applications to enhance surgical precision and patient safety. Currently, Caresyntax serves over 30,000 surgical professionals across more than 3,000 operating rooms worldwide.

Himani Bhalla, Chief Investment Officer of Symbiotic Capital, expressed enthusiasm for the investment, stating, “Symbiotic is thrilled to support Caresyntax in its mission to enhance surgical outcomes through its innovative platform, delivering benefits to stakeholders throughout the healthcare ecosystem. We were impressed with Caresyntax’s growth across hospitals, medtechs and insurers and look forward to working together to continue to scale their platform.”

The platform addresses critical data shortfall and fragmentation challenges in the $3 trillion global surgical market. By leveraging technology and AI, Caresyntax collects, integrates, and analyzes comprehensive data, providing real-time and long-term clinical decision support to caregivers.

Katrin Vatiska, Investment Partner at MTIP, commented on their investment; “MTIP proudly backs the forefront of surgical intelligence through our investment in Caresyntax. What drew us to Caresyntax was not only their stronghold in a rapidly expanding sector but also their unique platform approach, seamlessly integrating workflow software and data-driven solutions.”

The company has reported strong growth, with over 75% increase in revenue and improved margins in the first half of 2024. Dennis Kogan, Co-Founder and CEO of Caresyntax, emphasized the significance of the funding; “This financing is not just an investment in Caresyntax, but an investment in the future of surgery.”

The capital will be used to scale customer adoption of surgical software tools and continue development of AI and edge-to-cloud applications. Additionally, the funding will support Caresyntax’s M&A strategy, with several acquisitions planned for 2024 and beyond.

Patrick Pfeffer, CEO of Aescuvest, highlighted the company’s potential; “Caresyntax is uniquely positioned to revolutionize the operating room—presently a black box—by transforming it into a data lake. This transformation is aimed at enhancing surgical procedures to make them smarter, safer, and more broadly accessible.”

As Caresyntax continues to expand its presence in the US and EMEA markets, this substantial funding round marks a significant milestone in the company’s mission to make surgery smarter and safer through AI-powered solutions.