ManchesterStory backs Wisedocs
Wisedocs , a machine learning software-as-a-service (SaaS) specializing in medical record review, indexing, and summarization, has successfully closed an oversubscribed Series A financing round, securing $9.5 million in funding. The Series A round is led by Information Venture Partners, an early-stage B2B fintech investment firm, along with participation from Thomson Reuters Ventures and ManchesterStory.
Founded in 2018 and launched in the US in 2022, the Canadian startup develops a Summaries platform to summarize medical records while gaining insights across documents to enable fast and inexpensive reviews of and decisions on medical records.
“This latest financing round proves the success of our most recent technological advancements. The claims ecosystem has long remained a siloed and slow-moving machine. With the improvements in automation, intelligence, and centralization that Wisedocs enables, the claims process will be an efficient experience for companies, team members, and claimants alike.” – Connor Atchison, Founder and CEO of Wisedocs.
“We are proud to lead Wisedocs’ Series A round. The unique way in which the company is applying AI to analyze medical claims, an overwhelming demand for Wisedocs’ solution from various insurance industry players, and the CEO’s noble mission to improve lives of insurance claimants is what makes us particularly excited about this company. This round enables its continued growth and expansion.” – Jane Podbelskaya of Information Venture Partners, investor, and newest board member at Wisedocs.
“Wisedocs has developed a game changing solution that applies generative AI to insurance claims processing and summarization. We are excited to work with them to bring this solution to our legal customers.” – Tamara Steffens, Managing Director, Thomson Reuters Ventures.
“The insurance industry knows the plight of their practice and workers, as well as their claimants as it pertains to processing claims effectively, efficiently, and accurately. It is no surprise that Wisedocs has successfully integrated its AI technology into the claims ecosystem at such a fast adoption rate. Its technology is a welcome change to how claims are processed.” – Matt Kinley, Founding Partner at ManchesterStory Group .
