Los Angeles-based clinical decision software company Regard announced it closed a $61 million Series B round led by Oak HC/FT.

Cedars-Sinai Health Ventures and existing investors Calibrate Ventures, Techstars and TenOneTen Ventures participated in the round. 

WHAT IT DOES

Regard offers a clinical support tool that utilizes AI to evaluate patient history, generate clinical decisions and documentation, and facilitate clinician-to-clinician communications. Its tool can be integrated into a provider's EHR. It also partners with companies like Epic and Cerner. 

The funds will be used to advance the company's AI-powered clinical-insights platform, scale its reach in healthcare and invest in research on LLMs. 

"Regard is augmenting patient care by analyzing overwhelming mountains of clinical data and providing clinicians with potential diagnoses and treatment recommendations, impacting the quality and safety of care in real-time," Eli Ben-Joseph, CEO of Regard, said in a statement. "That's a game-changer – not just for doctors, but for the people whose lives are in their hands."

MARKET SNAPSHOT

Regard, formerly known as HealthTensor, raised $5 million in seed funding when it launched in 2021, and secured $15.3 million in a Series A funding round a year later. 

Last year, the company announced it would work with OpenAI to release new product functionalities and a chatbot, dubbed Max, built on GPT-4.

The company said the product would be able to search through patient data for clinicians to save time, emulate the role of a medical resident by automatically draft portions of a clinical note based on patient data and check documents against clinical guidelines for accurate auditing.

Earlier this year, Regard announced an expanded partnership with Phoenix-based healthcare provider Banner Health to bring its clinical-support decision-making tool to clinicians across Banner Health hospitals.

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