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Total amount raised
$81.5 Million
Latest funding date
7/1/2024
Location
Regard has successfully raised $81.5 million over three funding rounds, positioning itself as a key player in the healthcare technology sector. The platform leverages AI to transform Electronic Health Record (EHR) data into actionable clinical insights, bridging the gap between data and effective patient care.
What Is Regard?
Regard, founded in 2017, is a healthcare technology company based in Los Angeles and New York City. The company leverages AI to transform Electronic Health Record (EHR) data into actionable clinical insights, aiming to bridge the gap between data and effective patient care.
Founded by Eli Ben-Joseph, Thomas Reardon, and Nate Wilson, Regard focuses on improving patient safety, enhancing documentation, and increasing hospital revenue. The platform analyzes patient data, suggests diagnoses, and generates care plans.
With a dedicated team of over 50 employees, Regard continues to innovate in the healthcare sector, providing valuable tools for healthcare professionals to optimize patient outcomes.
How Much Funding Has Regard Raised?
- Series B Funding Round
- Amount Raised: USD 61,000,000
- Date: July 2024
- Lead Investors: Oak HC/FT
- Valuation at Round: USD 350 million (as reported by TechCrunch)
- Motivation Behind the Round: The company said the investment would accelerate development of its clinical insights platform, fund research into large language models, and support expansion beyond inpatient facilities.
- Series A Funding Round
- Amount Raised: $15.3 million
- Date: June 2022
- Lead Investors: Calibrate Ventures and Foundry Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To increase the number of Regard’s clients and expand its usage in hospitals.
- Previous Funding Rounds
- Amount Raised: $5.2 million
- Valuation at Round: Not publicly disclosed
Total Amount Raised: $81.5 million. Current Valuation: Not publicly disclosed.
Key Investors
- Oak HC/FT
- Details: Oak HC/FT is a venture and growth equity firm specialising in fintech and healthcare investments, founded in 2014 and headquartered in Stamford, Connecticut. It led Regard's $61 million Series B in July 2024, and its general partner Nancy Brown spoke for the firm in the announcement.
- Investment Focus Areas: Fintech and healthcare, from seed through growth
- Notable Investments: Not publicly disclosed
- Calibrate Ventures
- Details: Calibrate Ventures is a venture capital firm that invests in early-stage technology companies. They focus on companies that leverage AI and automation to create transformative solutions.
- Investment Focus Areas: AI, automation, early-stage technology
- Notable Investments: Not publicly disclosed
- Foundry Group
- Details: Foundry Group is a venture capital firm that invests in early-stage technology companies, particularly in software and IT infrastructure. They are known for their hands-on approach and long-term commitment to their portfolio companies.
- Investment Focus Areas: Software, IT infrastructure, early-stage technology
- Notable Investments: Not publicly disclosed
- TenOneTen Ventures
- Details: TenOneTen Ventures is a venture capital firm that focuses on data-driven technology companies. They invest in early-stage startups that leverage data to create innovative solutions.
- Investment Focus Areas: Data-driven technology, early-stage startups, innovation
- Notable Investments: Not publicly disclosed
- Susa Ventures
- Details: Susa Ventures is a venture capital firm that invests in early-stage technology companies. They focus on companies that have the potential to create significant impact through technological innovation.
- Investment Focus Areas: Early-stage technology, innovation, impact-driven companies
- Notable Investments: Not publicly disclosed
- Brook Byers of Byers Capital
- Details: Brook Byers is a seasoned venture capitalist and a partner at Byers Capital. He has a long history of investing in healthcare and technology companies.
- Investment Focus Areas: Healthcare, technology, early-stage companies
- Notable Investments: Not publicly disclosed
What's Next for Regard?
Regard's future looks promising as it continues to expand its client base, currently used by 15 hospitals with contracts for 84 more. The integration with major EMR providers like Epic and Cerner positions the platform for widespread adoption, addressing the critical issue of physician burnout by enhancing clinical documentation efficiency and accuracy.
With the successful Series A funding round of $15.3 million, Regard is well-positioned for future fundraising opportunities. However, challenges such as competition from established players like Nuance and 3M, and maintaining the accuracy and reliability of their algorithms, will need to be navigated carefully.
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