In recent news, Smart Reporting, a technology startup founded by radiologists, has secured nearly $25 million in new funding. The announcement was made on Monday by company leaders. TVM Capital Life Science, based in Munich, Germany, led the Series C financing round with contributions from Bayern Kapital and existing investors.
The new funding will be used by Smart Reporting to enhance product development and establish international partnerships. This will help the company expand its presence in the U.S., Canada, Australia, and New Zealand. Smart Reporting aims to streamline medical documentation workflows specifically for imaging, which currently takes up approximately 40% of a physician’s day.
Dr. Hubert Birner, managing partner at TVM Capital Life Science, highlighted the importance of new technologies such as AI and machine learning in driving innovation in healthcare. He expressed confidence in Smart Reporting as a future international market leader in radiology and pathology, praising the company’s groundbreaking technology already utilized by thousands of doctors worldwide.
Smart Reporting was founded in 2014 by Wieland Sommer, MD, a professor of radiology at the University of Munich. Currently led by him as co-CEO alongside Dr. Andreas Neubauer-Schuhmann, CEO of MediNRG Group AG who also serves as chairman of Smart Reporting’s supervisory board – the company currently employs a team of 80 doctors, data scientists and software engineers from various countries like Germany , Switzerland , USA , Canada , Australia and New Zealand . Its software is used by over 16 thousand physicians across 90 countries offering voice-controlled documentation with automated workflows and valuable data insights .