Carta Healthcare, a provider of AI-based clinical data abstraction, announced it has secured $18.25 million in Series B1 financing. The funding was led by UPMC Enterprises, with participation from new strategic investors, including MemorialCare Innovation Fund, Rex Health Ventures (the investment fund for the UNC Health), Tampa General Hospital Ventures and support from existing investors Memorial Hermann Health System, Frist Cressey Ventures, Storm Ventures, Paramark Ventures, CU Healthcare Innovation Fund, and Mass General Brigham Ventures.
What the funding will be used for: This funding will advance the company’s growth as demand surges among health systems and life sciences organizations for AI-driven innovation that transforms clinical data into valuable insights.
This new funding will also enable Carta Healthcare to expand its growing customer footprint, particularly in the life sciences market, following the late 2024 acquisition of Realyze Intelligence from UPMC Enterprises. And Realyze Intelligence’s technology utilizes AI to rapidly analyze structured and unstructured data and identify specific patients that match clinical trials and other research studies.
Launched in 2017, Carta Healthcare has developed innovative approaches to clinical data abstraction and healthcare analytics. And the company’s technology combines AI, machine learning, and deep clinical expertise to automate the collection and analysis of clinical data, enabling healthcare organizations to generate actionable insights that drive quality improvement initiatives.
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“UPMC Enterprises invests in companies that are solving real problems in healthcare delivery. Health systems face significant challenges associated with clinical data abstraction and patient trial matching, which are time-consuming, labor-intensive processes. Carta Healthcare leverages AI to streamline data abstraction and provide analytics that clinicians can use to improve patient care. We look forward to partnering with Carta Healthcare to advance their mission and explore opportunities to implement their solutions across our health system.”
Brent Burns, executive vice president at UPMC Enterprises, the innovation, commercialization and venture capital arm of UPMC
“We have long recognized that better clinical data abstraction and activation is integral to improving healthcare. Since our initial investment, Carta has been laser focused on solving this challenge for health systems by using the Carta Healthcare AI platform to automate the data abstraction process, generating high-quality clinical data while simultaneously realizing an immediate ROI by reducing the high labor cost of data abstraction.”
Navid Farzad, Managing Partner at Frist Cressey Ventures
“As a community-focused health system, we’re always looking to invest in new digital technologies that will enable us to better meet the diverse needs of our patients in the Greater Houston area, while also supporting our providers and physician partners. Our vision is to create healthier communities, now and for generations to come. By partnering with Carta Healthcare, we are investing in a platform that will help us drive innovation and provide the best care possible for our patients.”
Feby Abraham, executive vice president and chief strategy officer for Memorial Hermann Health System
“This significant investment from leading health systems further validates and empowers our mission to harness the power of data, ensuring that care teams and researchers have the information they need, when they need it. With their support and adoption of our solutions, we can continue to expand upon our deep clinical domain expertise, scale our operations and product deployment, and activate their structured and unstructured data as close to real time as possible to support process improvement and quality initiatives.”
Carta Healthcare CEO Brent Dover
“We’ve demonstrated consistent year-over-year growth by focusing on delivering measurable value to healthcare systems. This new capital will allow us to scale our team and infrastructure to meet increasing market demand. With a strengthened balance sheet and critical insights from industry-leading strategic investors, we are well-positioned to capture the significant market opportunity ahead of us.”
Carta Healthcare CFO Lucas Tanner
