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Healthcare AI startup Qventus just raised $105 million from private equity giant KKR. Here's the 17-slide pitch deck it used.

Jan 14, 2025 - businessinsider.com
Qventus, a healthcare startup, has raised $105 million in Series D funding led by KKR, with participation from health system customers Northwestern Medicine, HonorHealth, and Allina Health, as well as previous investor Bessemer Venture Partners. The funding includes $20 million in venture debt and $85 million in equity financing. The company, founded in 2012, has developed an AI-powered assistant to automate non-clinical tasks related to surgery, such as patient messaging and medical record retrieval. This new technology, launched in partnership with Northwestern Medicine, is driving rapid growth and customer adoption.

Qventus aims to reach cash flow breakeven by the end of 2025 by expanding its customer base and exploring new use cases for its technology, particularly in complex surgical specialties like oncology and cardiology. The startup is also increasing its hiring efforts, particularly in engineering, to support its growth. While Qventus is considering mergers and acquisitions, CEO Mudit Garg emphasizes that it is not a core focus. Despite the significant funding, Garg is not planning an exit, citing sufficient cash reserves and a focus on expanding the company's offerings and capabilities.

Key takeaways:

  • Qventus raised $105 million in Series D funding led by KKR, with participation from health system customers and previous investors.
  • The startup's new AI assistant for automating pre- and post-surgery tasks is driving significant growth and customer uptake.
  • Qventus aims to reach cash flow breakeven by the end of 2025 and is considering M&A opportunities to support its growth.
  • The company is expanding its technology to include automation for complex surgical specialties and increasing its engineering workforce.
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