Tech-enabled medical education startup Amboss has raked in €30 million ($32.7 million) in Series B funding. The latest round of funding was led by Partech’s growth fund, with participation from Cherry Ventures, Wellington Partners and Holtzbrinck Digital.
WHAT THEY DO
Founded in 2012, Amboss was developed as a digital resource to help medical students and professionals access information.
The platform includes a program specifically designed help medical students study for the U.S. medical licensing exams and national board exams. While the tool has jumped over to the United States, it first became popular in Germany and Europe. According to the company, more than 50 medical schools across the globe are using the tool.
The digital tool lets users access its “Qbank” of exam-style questions, as well as an interactive library. Users can access charts and images with digital overlays to illustrate diagnostic points. It also lets users come up with study plans and tips for how to deduce the correct answer.
More recently, the company has expanded its tools to help practicing clinicians as well as students. The clinician-facing tool is now available for German hospitals to help clinicians with the decision-making process.
While the startup was born in Germany, in 2017 it opened the doors to its U.S. headquarters in New York.
WHAT IT’S FOR
The new money will go toward creating smart guidance applications aimed at improving clinical decision making for physicians.
“Medical knowledge is exploding and it is almost impossible for doctors to quickly obtain reliable clinical information,” Benedikt Hochkirchen, co-CEO of Amboss, said in a statement. “Our mission is to connect every doctor with precise medical knowledge to provide the best possible care. This new funding will allow us to make a meaningful contribution to global health. We are proud of our team’s exceptional achievements and grateful for the trust of our investors. Together, we want to drive the transformation medicine has been waiting for.”
MARKET SNAPSHOT
Medical students now have more and more options to choose from when it comes to getting educational tools on a digital platform. In March the Mayo Clinic inked a deal with LA-based medical and surgical streaming service Giblib, allowing the company to digitize and host the clinic’s educational videos and produce new content.
But educational tools aren’t just for students. Scores of startups have come out with tools to help experienced providers up their game or better prepare for surgery. For example, video game development studio Level Ex puts out a handful of educational mobile games designed to simulate complex patient cases and procedures for doctors.
