“In the last 18 to 20 months we have essentially gone from being geeky kids in a lab to one of the largest medical scribe companies in the country.”
That’s what DeepScribe co-founder Akilesh Bapu had to say in an interview with Forbes Magazine. The Bee Partners’ portfolio company uses AI to dramatically decrease the time doctors spend on digitizing their notes while also producing more accurate results. DeepScribe has securely transcribed half a million provider-patient conversations since launching in March of 2020, saving overworked doctors 2.5M minutes of documentation.
It recently announced another significant milestone in the company’s growth: a $30M investment led by Nina Achadjian at Index Ventures.
Akilesh and his co-founder Matthew Ko have personal passions for changing the lives of both doctors and patients. Akilesh had seen the burden of medical record-keeping wreck his oncologist father’s free time, while Ko’s role as caregiver for his mother showed him the inaccuracies of current transcription systems. They used their experiences as AI researchers at UC Berkeley to create a product that solved both problems while baking in two additional important factors: human-in-the-loop cross-reference which allows medical students to check transcripts for accuracy, and high-level security to protect patient data.
Index Ventures’ Achadjian thinks Deepscribe is the first startup seeking to solve the problems their solution addresses that has a viable strategy. She told Forbes:
“DeepScribe has a higher accuracy at a high margin with better costs. It’s the first company where I was like ‘wow.’ They have incredible traction at a very early stage.”
About Bee Partners
Founded in 2009, Bee Partners is a pre-Seed venture capital firm that partners with revolutionary Founders working at the forefront of human-machine convergence across technologies that include robotics, AI, voice, i4.0, and synthetic biology. The firm leverages a singular approach to detecting new and emerging patterns of business as well as inside access to fertile but often overlooked entrepreneurial ecosystems to identify early opportunity in large, untapped markets. Bee’s portfolio companies consistently realize growth at levels that outstrip industry averages and secure follow-on capital from the world's top VCs.
Follow Bee Partners on LinkedIn for regular updates.