Mendel Nabs $40 Million Series B Round

SAN JOSE &&num;8212&semi; Mendel, a clinical artificial intelligence and natural language processing platform, has raised &dollar;40 million in Series B funding round led by Oak HC/FT&period; The round includes participation from existing investor DCM, who led Mendel&&num;8217&semi;s Series A funding round in June 2021&period; &NewLine;This funding comes amidst surging customer demand for Mendel&&num;8217&semi;s AI infrastructure&period; The fresh capital will enable the company to expand its team of AI and engineering teams and scale the commercial organization&period; It will also help accelerate the release of Mendel&&num;8217&semi;s new, breakthrough product, Resolve, which consolidates clinical information to create a coherent longitudinal view of the patient journey&period; Traditionally, it takes nearly five years to manually abstract 2 million patient lives&period; Mendel&&num;8217&semi;s Resolve abstracts the same number in less than 24 hours&period;&NewLine;&&num;8220&semi;The capital we have raised is a testament to the strong market fit and demand,&&num;8221&semi; said Karim Galil, Co-Founder and CEO of Mendel&period; &&num;8220&semi;Our vision it to weave Mendel into the fabric of every healthcare data platform&period; It&&num;8217&semi;s exciting to partner with Oak HC/FT as we enable the healthcare ecosystem to provide better care for every patient&period;&&num;8221&semi;&NewLine;The healthcare industry faces immense challenges in parsing unstructured medical data that is highly valuable, but also extremely difficult and expensive to access&period; Mendel&&num;8217&semi;s solution unlocks 80&percnt; of the world&&num;8217&semi;s clinical data by leveraging contextual understanding to transform unstructured electronic medical record (EMR) data and clinical literature into comprehensive and compliant analytics-ready data&period; It abstracts data 27,000 times faster than the primarily manual methods most frequently used in clinical settings, and its output is reviewed and validated by a team of clinical experts to guarantee research-grade output&period;&NewLine;&&num;8220&semi;We believe Mendel can become a mission-critical infrastructure platform for the healthcare industry,&&num;8221&semi; said Billy Deitch, Partner at Oak HC/FT&period; &&num;8220&semi;Mendel&&num;8217&semi;s technology sets a new standard in accuracy and scalability for processing unstructured medical data and we are confident that the company will continue to lead the industry with cutting edge solutions [and delivering for their customers]&period;&&num;8221&semi; &NewLine;

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