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[Funding News] Synthpop Secures $5.6M Funding to Revolutionize AI-Driven Healthcare Solution

Synthpop, an AI-driven platform for healthcare workflows, announced a $5.6 million Seed round. The round was led by Peterson Ventures, with significant participation from defy.vc, Zelda Ventures, Think+ Ventures, and OVO Fund. Synthpop is serving multiple healthcare providers, including durable medical equipment (DME) providers and independent diagnostic testing facilities (IDTFs).

Synthpop, an AI-driven platform for healthcare workflows, announced a $5.6 million Seed round. The round was led by Peterson Ventures, with significant participation from defy.vc, Zelda Ventures, Think+ Ventures, and OVO Fund. Synthpop is serving multiple healthcare providers, including durable medical equipment (DME) providers and independent diagnostic testing facilities (IDTFs).

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Synthpop will use this round of capital to hire additional engineering team members, enhancing their ability to provide agile software development and frequent updates to the system as they expand into various healthcare industries. They plan to exhibit and speak at several conferences throughout 2024 to demonstrate the potential of AI to revolutionize healthcare.

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The founders, Elad Ferber and Jan Jannink bring decades of experience in AI development, ensuring the ethical and effective application of AI in healthcare. Elad co-founded Spry Health, which was acquired by Itamar Medical (NASDAQ:ITMR) in 2021. His unique experience in bringing machine learning based products to market and digital health entrepreneurship has been instrumental in establishing the company’s vision. Jan Jannink co-founded imeem and VoiceBase, held CTO roles in Arrowbase, Atollogy, and Nexus Events, and taught Scalable Systems and Applications of Large Language Models in Stanford’s CS department. As a nationally recognized expert in AI, has devised and deployed the novel solutions that serve as Synthpop’s foundational architecture.

Synthpop offers comprehensive solutions with four key products to streamline workflows for healthcare providers, suppliers and software services: Fax wrangler, Field Extractor, Order Validation and the highly anticipated “AI caller,” which is currently in beta. These solutions significantly reduce the manual and time-consuming administrative tasks that burden healthcare professionals today.

“We are able to transform 20-minute processes into 2-minute tasks or less. Serving our healthcare provider customers over the past several months, we were able to cut down process complexity and enable faster care delivery. Our customers do not need to use an additional system – our AI operates behind the scenes, getting the job done. We have a unique model of working in tandem with human teams, alleviating the burden of the most mundane and tiring tasks,” says Elad Ferber, CEO and Co-founder of Synthpop. “The pull from the customers to solve acute administrative pain points is unlike what our team has ever seen. Our AI agents can rapidly solve needs that could not be addressed before”.

“We invested in Synthpop because we believe in their vision to create AI assistants that automate manual workflows in healthcare. Their technology significantly improves efficiency of their customers while addressing the supply/demand imbalance of administrative professionals in healthcare. Elad and Jan bring both industry and AI/ML expertise, making Synthpop a standout in healthcare AI. We are excited to support their mission to revolutionize healthcare operations,” says Ilana Stern, General Partner at Peterson Ventures.

About Synthpop

Synthpop leverages multimodal Large Language Models (LLMs) to streamline healthcare, one workflow at a time. Synthpop’s AI agents perform complex healthcare administrative tasks – from referral sorting and processing, to instantly validating medical orders and prescriptions by referencing payor and clinical guidelines. Synthpop’s AI Agents can navigate complex payor phone trees, freeing up your team to perform more critical tasks.

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