Recare, a Berlin-based provider of technology for hospitals and care providers, has closed a growth financing round of up to €37 million, including a €7 million option, to accelerate the rollout of an AI agent platform for discharge management and aftercare.
The round was led by DNV, the independent assurance and risk management provider, with additional participation from CIBC Innovation Banking and other investors. The transaction makes DNV the largest shareholder in Recare.
Founded in 2017, Recare said its software-as-a-service platform is used by around two-thirds of German hospitals and more than 26,000 care providers. The company plans to use the new capital to fast track deployment of its AI agent across hospitals and care facilities and to expand internationally.
Recare positions its AI agent as a layer that connects existing hospital IT systems and coordinates clinical and administrative workflows across departments. The company said the product automates documentation and routine tasks, including medical letters and handover protocols, and extracts and structures information from PDFs, scans, and free text into interoperable formats intended to reduce data silos and speed end-to-end workflows.
The investment comes as European healthcare systems face rising administrative burdens and staffing constraints. Recare cited European Commission estimates that Europe already faces a shortage of approximately one million doctors and nurses, with the gap projected to worsen significantly by 2030.
For DNV, the Recare deal expands its digital health footprint. DNV said it has served the healthcare sector for decades through accreditation and certification work, and it highlighted its portfolio of digital health companies, including DNV Imatis, MBI Health, and Patients Know Best.
KEY QUOTES
“Hospitals are under enormous operational pressure, as healthcare professionals spend increasing time on administrative tasks—leaving less capacity for what matters most: caring for patients. Recare’s AI agent platform relieves a large part of this administrative burden by leveraging unstructured data to rapidly orchestrate workflows. The new investment into our business will accelerate the roll-out of our AI agent across Germany and abroad, helping healthcare providers to transform their workforce capacity.”
Maximilian Greschke, CEO, Recare
“Recare is proving that smarter workflows translate into measurable productivity for German healthcare. DNV’s investment will scale that impact internationally. Recare’s market leadership and ambitious AI plans fit perfectly with DNV’s focus on solutions that raise efficiency and reliability through secure, accurate, interoperable data.”
Daniel Holth Larsen, Managing Director, Digital Health, DNV
“We are pleased to support Recare as part of its latest funding round. For healthcare institutions, administrative tasks are time-consuming and take away from valuable hours that could be spent helping patients. Recare addresses this with its platform that maximises optionality for patients requiring aftercare solutions and streamlines the discharge and after-care processes.”
Charlotte Goggin, Director, CIBC Innovation Banking
