Vital, an AI-driven digital health company based in Claymont, DE, has announced that it has raised $24.7 million in Series B funding. The funding round was led by Transformation Capital, with support from Threshold Ventures, strategic health system investors, and Vital’s CEO and Mint.com creator, Aaron Patzer. The latest investment brings Vital’s total funding to over $40 million.
Vital, an AI-driven digital health company based in Claymont, DE, has announced that it has raised $24.7 million in Series B funding. The funding round was led by Transformation Capital, with support from Threshold Ventures, strategic health system investors, and Vital’s CEO and Mint.com creator, Aaron Patzer. The latest investment brings Vital’s total funding to over $40 million.
The company will use the funding to fuel its expansion and support the rapid growth of its modern software, including ongoing operational and technological advancements, team expansion, and development of new features that will focus on improving clinical decision support, care coordination, and patient experience.
Vital’s solutions aim to improve the patient experience by making it easier for healthcare providers and health systems to communicate and engage with patients during emergency department (ED) and inpatient visits. The software features actionable and personalized patient material, automated communication, and real-time feedback, which are driven by AI and natural language processing (NLP). This technology keeps patients in-network, generates millions in revenue for health systems, and improves the treatment experience.
According to Aaron Patzer, Vital’s CEO, healthcare providers and health systems face growing pressures that often make it difficult to provide the best care for patients. He said that their software keeps patients engaged and informed while automating tasks for staff who manage emergency department visits and inpatient stays. With the new funding, the company aims to advance the impact of its technology for patients, families, and clinicians.
Over the past year, Vital has achieved significant growth, partnering with over 40 new hospital clients, including facilities across Allina Health, CommonSpirit Health, and Emory Healthcare. The company has also expanded its software solutions into the inpatient setting, launched new features, including its experience management and lab results tools, and added seasoned industry veterans in technology and health to its teams.
Vital’s software is HIPAA-compliant and cloud-based, sitting on top of any existing electronic health record system (EHR), such as Epic, Cerner, and Meditech. The software is designed to be easy to use and consumer-focused, accessible via a patient’s mobile phone and available with no download or password required. The company expects to have impacted over one million patient lives and supported 100,000 clinical tasks by the end of 2023.
