Smart Reporting, a technology startup founded by radiologists, has recently secured nearly $25 million in new funding, according to company leaders who made the announcement on Monday. With this newfound capital, the company plans to enhance product development and establish international partnerships, expanding its presence in the U.S., Canada, Australia, and New Zealand.
Founded in 2014 by Wieland Sommer, MD, a professor of radiology at the University of Munich, Smart Reporting is now led by him as co-CEO. The company currently employs a team of 80 doctors, data scientists, and software engineers.
Smart Reporting’s software offers voice-controlled documentation with automated workflows and valuable data insights that enable physicians to save time and focus on what matters most: patient care. By automating medical documentation processes specifically focusing on imaging workflows, Smart Reporting aims to reduce the amount of time doctors spend documenting their work by approximately 40%. This frees up their day to focus more on providing quality care to their patients.
Dr. Hubert Birner, managing partner at TVM Capital Life Science based in Munich Germany led the Series C financing round with contributions from Bayern Kapital and existing investors. He highlighted the importance of new technologies such as AI and machine learning in driving innovation in healthcare. He expressed confidence in Smart Reporting as a future international market leader in radiology and pathology due to its groundbreaking technology already utilized by thousands of doctors worldwide.