Mendel Nabs $40 Million Series B Round

<p><strong>SAN JOSE <&sol;strong>&&num;8212&semi; Mendel&comma; a clinical artificial intelligence and natural language processing platform&comma; has raised &dollar;40 million in Series B funding round led by Oak HC&sol;FT&period; The round includes participation from existing investor DCM&comma; who led Mendel&&num;8217&semi;s Series A funding round in June 2021&period; <&sol;p>&NewLine;<p>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&comma; breakthrough product&comma; Resolve&comma; which consolidates clinical information to create a coherent longitudinal view of the patient journey&period; Traditionally&comma; 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;<&sol;p>&NewLine;<p>&&num;8220&semi;The capital we have raised is a testament to the strong market fit and demand&comma;&&num;8221&semi; said Karim Galil&comma; 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&sol;FT as we enable the healthcare ecosystem to provide better care for every patient&period;&&num;8221&semi;<&sol;p>&NewLine;<p>The healthcare industry faces immense challenges in parsing unstructured medical data that is highly valuable&comma; 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 &lpar;EMR&rpar; data and clinical literature into comprehensive and compliant analytics-ready data&period; It abstracts data 27&comma;000 times faster than the primarily manual methods most frequently used in clinical settings&comma; and its output is reviewed and validated by a team of clinical experts to guarantee research-grade output&period;<&sol;p>&NewLine;<p>&&num;8220&semi;We believe Mendel can become a mission-critical infrastructure platform for the healthcare industry&comma;&&num;8221&semi; said Billy Deitch&comma; Partner at Oak HC&sol;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 &lbrack;and delivering for their customers&rsqb;&period;&&num;8221&semi; <&sol;p>&NewLine;