AvoMD Raises $5 Million in Seed Round

by Kay Aloha Villamor in June 26th, 2023

AvoMD, a New York-based no-code platform enabling clinicians and hospitals to easily make their own apps for use at the point of care, raised $5 million in a seed funding round led by AlleyCorp, an early-stage venture fund.

Other participants in the round include Las Olas, Epsilon Health, MedMountain Ventures, and notable physician angel investors like Dr. Kavita Patel, Venture Partner at New Enterprise Associates, and Senior Policy Advisor at Stanford University.

Existing investors Mirae and Dunamu also participated, along with institutional investors such as Columbia University, Mount Sinai Innovation Partners, StartUp Health, and 500 Startups.

AvoMD provides an AI-enabled, no-code application builder that enables clinicians and hospitals to create applications for any specialty and care setting, catering to various clinician types. The platform supports a wide range of use cases, including interactive clinical guidelines (e.g., sepsis, COVID), medical calculators, billing support, documentation automation, and more.

"For too long, clinical technology has mostly overwhelmed us or not fit in our workflow, exacerbating burnout. We're here to change that. AvoMD is a copilot for clinicians, working alongside them and empowering them to provide the highest quality of care," said Joongheum Park, MD, AvoMD's Chairman and Head of Product/Engineering. "We are thrilled to have a partner like AlleyCorp to support this vision and the next chapter of growth at AvoMD."

AvoMD aims to revolutionize the creation and utilization of clinical technology, saving clinicians over 50 percent of their time in decision-making and ultimately improving patient outcomes.

Company: AvoMD, Inc.

Raised: $5.0M

Round: Seed Round

Funding Month: June 2023

Lead Investors: AlleyCorp

Additional Investors: Las Olas, Epsilon Health, MedMountain Ventures, and Dr. Kavita Patel 

Company Website:  https://www.avomd.io/

Software Category: No-Code Clinical App Building Platform

About the Company: AvoMD is a software platform that translates clinical evidence—guidelines, pathways, and algorithms—into the workflow at the point of care, available in the EHR, or as a standalone web/mobile application. AvoMD automates the ordering and documentation processes in addition to providing clinical guidelines in real-time, point-of-care optimized formats. Randomized control trials and implementations demonstrate that AvoMD saves clinicians over 50 percent of their time in clinical decision-making at the bedside while improving outcomes and reducing costs. The company has already developed standardized integrations with the largest electronic health record systems in the US. AvoMD also supports AI model integration, which enables doctors to incorporate clinical predictions based on AI at the point of care.

Source: https://www.avomd.io/post/avomd-raises-seed-to-enhance-no-code-clinical-decision-support-platform

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