Texas Single Family Office Invests In Mednition’s $10M Series A

Texas Single Family Office Invests In Mednition's $10M Series A

Mednition is a US startup working on solutions to transform Electronic Health Care records (EHR) into valuable decision support by machine learning. Recently, Mednition closed a $10M Series A funding round. One of the investors is the Texas-based Bonderman single family office Wildcat Capital Management, LLC.

Mednition offers clinical accuracy by machine learning

Burlingame-based Mednition’s product is based on the story of Kate, a misdiagnosed child. Through their product Mednition wants “to help clinicians make better, more informed decisions at the point of care”. The flagship product “KATE” alerts clinical staff when anomalies occur – and a second look might be needed. KATE is based on 10 billion data points in Mednition’s clinical data engine. First research outcomes of a trial at the Adventist Health White Memorial hospital are more than promising: hundreds of high-risk patients have avoided the waiting room, many patients with sepsis were uptriaged. Mednition was founded by Steven Reilly, a former management consultant, and Christian Reilly, a mechanical engineer and software product manager.

$10M Series A by Texas Single Family Office and institutional investors

The recent funding round was led by private equity firm Concord Health Partners. The Texas-based single family office of David Bonderman – Wildcat Capital Management – also participated in the recent funding round as an existing shareholder. David Bonderman is an American billionaire who founded private equity fund TPG Capital. His net worth is estimated at $3.7B. Through the $10M Series A, Mednitions want to grow its customer care team and scale the development of KATE.

Sources
Mednition, 9.10.2019
AI Time Journal, 9.10.2019
Robina Weermeijer, 9.10.2019

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