Nabla Technologies, a Boston-based startup, has announced that it has successfully secured $24 million in Series B funding for its AI-powered clinical note generator. The investment round was led by Cathay Innovation, with participation from ZEBOX Ventures. This latest funding brings Nabla’s total outside funding to more than $43 million.
Nabla Technologies aims to help medical professionals save time by enabling them to generate clinical notes faster. Currently, medical professionals spend several hours per week writing clinical notes, which provide a detailed summary of a patient’s medical condition and treatment plans. With Nabla’s artificial intelligence platform, called the Nabla Copilot, physicians can generate these clinical notes automatically, freeing up their time to focus on patient care.
The Nabla Copilot platform is powered by internally-developed large language models and utilizes artificial intelligence to generate clinical notes. The company’s model development team consists of former engineers from Meta Platforms Inc.’s AI research group, including deep learning pioneer Yann LeCun, who serves as one of Nabla’s advisors. To generate clinical notes, the platform captures information shared by patients during doctor’s visits, distilling it into a concise summary of key details such as the patient’s medical condition, symptoms, and treatment plan.
Setting up the Copilot platform before an appointment takes just 30 seconds, making it a quick and efficient tool for medical professionals. The platform can be used in both in-person medical consultations and telehealth sessions. In addition to generating clinical notes, the platform also automates the task of loading clinical information into an organization’s electronic health record (EHR) system, ensuring seamless integration and data management.
Nabla emphasizes that its Copilot platform is compliant with data protection regulations, including the United States’ Health Insurance Portability and Accountability Act (HIPAA) and the European Union’s General Data Protection Regulation (GDPR). The company assures users of the platform that it does not retain any transcripts or notes generated, ensuring patient privacy and confidentiality.
According to Nabla, using the Copilot platform can save physicians up to two hours of manual work per day, significantly enhancing their productivity and allowing them to devote more time to patient care. The company also highlights that its platform helps ensure the accuracy of clinical notes, with only 5% of AI-generated notes requiring manual editing.
Since its launch in March, the Copilot platform has gained significant traction, with more than 20,000 physicians utilizing the service. With this latest funding, Nabla plans to further enhance its platform by adding new features and expanding its language support. The company also aims to drive greater adoption of the Copilot platform among healthcare organizations in the United States.
Nabla co-founder and CEO Alex Lebrun stated, Clinical documentation is only the beginning for Nabla. Health systems are looking to leverage the AI opportunity to support their healthcare teams in many different aspects; we are getting ready to be there every step of the way.
Nabla faces competition in the AI-powered clinical note generation space, with similar offerings such as AWS HealthScribe from Amazon Web Services. However, with its innovative platform and significant funding, Nabla Technologies is well-positioned to revolutionize clinical note generation and increase efficiency in healthcare settings.
