care.ai, an Orlando, Florida-based AI-powered ambient monitoring platform in healthcare, announced that it raised $27 million in funding from Crescent Cove Advisors, a multi-asset investment firm.
The funds will be used to accelerate growth and scale deployments of the industry's first smart care facility platform throughout the U.S.
care.ai’s Smart Care Facility Platform transforms healthcare settings, such as hospitals and nursing homes, into responsive care facilities that continuously monitor and streamline clinical and operational workflows.
“The physical, emotional, and economic burden on our caregivers has never been more challenging. Processes remain manual and time-consuming, and care teams are bogged down with burdensome tasks and documentation – and unfortunately, clinicians and patients suffer the consequences,” said Chakri Toleti, CEO and founder of care.ai. “Our mission is to enable the transformational promise of a smart care facility, providing a level of care the world has never seen. We’ve spent the last few years expanding our platform while partnering with the nation's leading health systems and long-term care organizations. I’m thrilled to have the support of Crescent Cove as we continue to scale and execute.”
The company has already deployed its technology to over 1,500 facilities across the U.S., including hospitals, skilled nursing facilities, and assisted living facilities. care.ai plans to use the funding from Crescent Cove Advisors to build on the ongoing success and lead the market in delivering ambient intelligence to healthcare.
Company: care.ai inc.
Funding Month: November 2022
Lead Investors: Crescent Cove Advisors
Company Website: https://www.care.ai/
Software Category: Smart Care Facility Platform
About the Company: care.ai’s transformative innovation enables AI-powered smart care facilities to ambiently monitor clinical and operational workflows and learn from them in real-time to predict, prevent, and protect, optimizing the patient and provider experience and ultimately powering more human care. Deployed in over 1,500 healthcare facilities, care.ai partners with health systems and long-term care facilities to fulfill the company’s mission to deliver on the transformational promise of a smart care facility, providing a level of care the world has never seen.