Augmedix closes $3.2M in venture funding round
San Francisco-based digital health firm Augmedix said it obtained $3.2 million from DCM and Emergence Capital Partners, a statement about the funding said.
The venture funding round was actually completed on August 31 last year but was only announced today. Augmedix said it will use the round to add more people to its team, which currently has 36 employees, as well as improve its work in bringing the service to more outpatient physicians all over the US. Together with the funding announcement, the company also said that it will be transferring to its new San Francisco headquarters, the statement said.
The service that Augmedix provides, which is powered by Google Glass, aims to help doctors focus on what they do best-providing patients with care. Through the app, physicians don't anymore have to spend precious hours in front of the computer putting in or getting back data from electronic health records, the statement said.
Augmedix Co-Founder and Chief Executive Officer Ian Shakil said in the statement, "Doctors spend more than 1/3 of their day on the computer, inputting or retrieving data from electronic health records. The amount of data and documentation is overwhelming. Powered by Google Glass, Augmedix rehumanizes the doctor-patient interaction by delivering patient satisfaction, doctor efficiency, doctor satisfaction and health record quality."
Since 2012, Augmedix has been creating its service platform. They have also finished conducting pilot studies that showed the productivity of doctors in different specialties improving substantially with the service. Moreover, patients who were also part of the pilot studies showed that they were satisfied with the service, the statement said.
DCM General Partner Peter Moran said in the statement, "Augmedix is breaking new ground by using Google Glass in the healthcare space. They are at the right place at the right time to help healthcare organizations meet mandates such as 'meaningful use,' while improving the quality of patient care. We believe Augmedix is an exceptionally promising startup that is destined for tremendous success. They already have established position and are seeing strong demand with a beneficial, completely unique solution."