Wisedocs, a Toronto, Canada-based machine learning software-as-a-service (SaaS) for medical record review, indexing, and summarization, has closed a $9.5 million in Series A financing round.   

SaaS Investors 

The round was led by Information Venture Partners, along with participation from Thomson Reuters Ventures and ManchesterStory.  

Founded in 2014, Information Venture Partners is a venture capital firm based in Toronto, Ontario. The firm seeks to focus on investing in early-stage B2B FinTech and Enterprise SaaS companies across the United States and Canada.  

Wisedocs Use of Funds 

The latest financing will support Wisedocs' continued expansion of its team, product, and sales territories after a successful 2023, during which the company more than doubled its growth in customer base.  

About Wisedocs 

Wisedocs is the medical record indexing, review, and AI summaries software platform for insurance carriers, healthcare providers, law firms, and TPAs for the claims industry. Wisedocs provides an easy-to-integrate solution for improved accuracy and speed to deliver improved outcomes in processing medical records. The company leverages Generative Artificial Intelligence (AI) to enable the entire claims ecosystem to manage the claims process within an intelligent technology platform. Wisedocs serves the auto, liability, disability, workers’ compensation, tort law, and similar markets.   

Funding Details               

Company: Wisedocs, Inc.   

Raised: $9.5M         

Round: Series A  

Funding Month: January 2024                  

Lead Investors: Information Venture Partners  

Additional Investors: Thomson Reuters Ventures and ManchesterStory  

Company Website: https://www.wisedocs.ai/  

Software Category: Medical  

Source: https://www.businesswire.com/news/home/20240130175319/en/