Paris-based startup Nabla has closed a noteworthy $24 million Series B funding round led by Cathay Innovation, alongside participation from ZEBOX Ventures, the corporate VC fund of CMA CGM. This latest round comes on the heels of Nabla's recent partnership with Permanente Medical Group, a division of the prominent U.S. healthcare entity Kaiser Permanente.
With this funding, Nabla has reached an estimated valuation of $180 million, highlighting its impressive growth trajectory. Additionally, the company is potentially eyeing additional investments from U.S. backers as part of this round.
Nabla specializes in developing an AI-driven assistant tailored for medical professionals, functioning as a silent work partner that automatically records notes and generates medical reports during consultations.
Founded by Alexandre Lebrun, Delphine Groll, and Martin Raison, Nabla's CEO, Alexandre Lebrun, previously led Wit.ai, a startup acquired by Facebook. Lebrun's subsequent role as the head of engineering at Facebook's AI research lab FAIR laid the foundation for Nabla's inception.
The innovative technology operates as a silent observer during consultations, transcribing discussions using speech-to-text algorithms and creating comprehensive medical reports. Nabla's AI assistant excels in both in-person consultations and telehealth appointments, producing accurate transcripts and medical summaries in mere minutes.
Nabla's platform goes beyond standard note-taking, allowing for customizable medical reports tailored to individual doctors' preferences. The system follows a structured note pattern widely used in the U.S., offering concise or more detailed notes as required.
Rather than developing its AI solutions in isolation, Nabla collaborated extensively with a group of exceptional physicians—its users, advisors, and critics—to shape Nabla Copilot over the past three years. The result? Over 20,000 clinicians worldwide now benefit from Nabla Copilot's seamless integration, conducting over 3 million consultations annually in three languages. The solution's integration with leading Electronic Health Record (EHR) systems like Epic and Nextgen has made it indispensable, streamlining workflows and enhancing patient care.
Emphasizing its commitment to supporting healthcare professionals rather than replacing them, Lebrun stated, "We’ve decided a long time ago with Nabla Copilot that (doctors) are the pilots, and we work by their side."
Operating on stringent privacy protocols, Nabla prioritizes data processing over storage, ensuring sensitive patient information remains secure. The platform utilizes a combination of proprietary speech-to-text models and off-the-shelf APIs to transcribe consultations in real-time, with a focus on accuracy and data privacy.
Nabla's proactive approach to data handling and commitment to maintaining patient confidentiality positions the company as a trusted ally in the evolving landscape of AI-driven medical assistance.