Total amount raised
$95.3 Million
Latest funding date
8/1/2022
Location
Qventus has successfully raised funds over nine rounds, with the latest being a Series D, attracting investments from 21 investors, including Northwestern Medicine Mansueto Innovation Institute and HonorHealth. The company offers AI-driven automation solutions designed to optimize healthcare operations, simplifying care flows and enhancing patient care.
Keep reading to explore the intricacies of Qventus's fundraising journey and the investors backing this innovative platform.
What Is Qventus?
Qventus is a private company based in Mountain View, California, specializing in AI-driven automation solutions for healthcare operations. The company operates within the analytics, artificial intelligence, healthcare, hospital, and machine learning industries.
Founded to optimize healthcare workflows, Qventus employs between 101-250 people. The company leverages advanced technologies to improve patient care and operational efficiency, partnering with notable health systems like HonorHealth and Allina Health.
How Much Funding Has Qventus Raised?
- Seed
- Amount Raised: Not publicly disclosed
- Date: December 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their AI-driven healthcare solutions.
- Series Unknown
- Amount Raised: USD 2,000,000
- Date: October 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their initial product offerings and scale operations.
- Series A
- Amount Raised: USD 13,000,000
- Date: November 2016
- Lead Investors: Mayfield Fund, Norwest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop their AI technology and expand their market reach.
- Series B
- Amount Raised: USD 30,000,000
- Date: May 2018
- Lead Investors: Bessemer Venture Partners, New York Presbyterian Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their AI solutions and increase their customer base.
- Private Equity
- Amount Raised: USD 50,000,000
- Date: February 2022
- Lead Investors: Premier Inc, THL
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and operational needs.
- Corporate Round
- Amount Raised: USD 3,000,000
- Date: August 2022
- Lead Investors: Froedtert ThedaCare Health
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop new AI solutions and expand their market presence.
- Debt Financing
- Amount Raised: USD 20,000,000
- Date: January 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and further development of their AI solutions.
- Series D
- Amount Raised: USD 85,000,000
- Date: January 2025
- Lead Investors: Kohlberg Kravis Roberts
- Valuation at Round: Over USD 400,000,000
- Motivation Behind the Round: To accelerate the development and commercialization of their AI Operational Assistants into new care settings.
Total Amount Raised: USD 203,000,000
Current Valuation: Over USD 400,000,000
Key Investors
- KKR
- Details: KKR is a global investment firm managing multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit. They led the Series D funding round for Qventus.
- Investment Focus Areas: Technology, healthcare, energy, infrastructure, real estate, credit.
- Notable Investments: ByteDance, Epic Games, GoDaddy, Lyft.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm investing in early-stage, hyper-growth startups. They participated in the Series D funding round for Qventus.
- Investment Focus Areas: Technology, healthcare, financial services, consumer products.
- Notable Investments: LinkedIn, Shopify, Pinterest, Twilio.
- Northwestern Medicine
- Details: Northwestern Medicine is a healthcare system affiliated with Northwestern University, providing a wide range of medical services and conducting medical research. They are a strategic investor in Qventus.
- Investment Focus Areas: Healthcare services, medical research, healthcare technology.
- Notable Investments: Primarily focused on internal healthcare improvements and partnerships.
- HonorHealth
- Details: HonorHealth is a non-profit healthcare system serving the greater Phoenix area, offering a range of medical services and community health programs. They are a strategic investor in Qventus.
- Investment Focus Areas: Healthcare services, community health, healthcare technology.
- Notable Investments: Focused on internal healthcare improvements and partnerships.
- Allina Health
- Details: Allina Health is a not-for-profit healthcare system based in Minnesota, providing comprehensive healthcare services and conducting medical research. They are a strategic investor in Qventus.
- Investment Focus Areas: Healthcare services, medical research, healthcare technology.
- Notable Investments: Focused on internal healthcare improvements and partnerships.
What's Next for Qventus?
Qventus stands at the cusp of significant growth, driven by its AI Operational Assistants platform. The company plans to expand its solutions beyond current applications, targeting new care settings and integrating with Electronic Health Records (EHRs). This expansion could potentially save millions of dollars for health systems by reducing inefficiencies and improving patient outcomes.
With a recent $105 million Series D funding round led by KKR, Qventus is well-positioned for future fundraising opportunities. The involvement of prominent investors and strategic health systems suggests a strong potential for additional investment rounds, which could further accelerate the development and commercialization of their AI solutions.
However, Qventus may face challenges such as ensuring seamless integration with various EHR systems and maintaining the accuracy of its AI predictions. Navigating the complex regulatory landscape and differentiating from competitors will also be crucial as the company continues to innovate and expand its market presence.
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