Pieces Technologies Raises $25M Growth Round to Expand Leading Suite of Generative AI Solutions

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Sep 10, 2024, 08:00 ET

Strategic capital to fuel growth and new product offerings as Pieces surpasses 5.4 million inpatient clinical summaries across major health systems

DALLAS, Sept. 10, 2024 /PRNewswire/ -- Pieces Technologies, Inc. ("Pieces" or the "Company"), a leading clinical generative AI solution that supports inpatient care teams, announced today that it has completed a $25 million growth financing round consisting of new equity and the conversion of notes. The round garnered significant participation from Children's Health, healthcare investment firm Concord Health Partners, renowned health systems including OSF HealthCare, and specialized health tech venture investor Rittenhouse Ventures.

Pieces optimizes clinical workflows and reduces provider burden for health systems by producing autonomous, AI-generated clinical documentation for multi-disciplinary care teams. As of September 10, 2024, the Company has generated more than 5.4 million inpatient clinical summaries across multiple health system clients.

"We are honored to receive support from major health systems and leading healthcare investors at such an exciting inflection point ," said Ruben Amarasingham, M.D., Chief Executive Officer of Pieces. "Our mission is to help those who help others. We are grateful that our investing partners recognize our work to help doctors, nurses and care managers free up valuable time so they can stay focused on care delivery at the bedside."

"At Children's Health, we understand the importance of providing high-quality care in the most innovative ways possible," said Robert Fries, Chief Financial Officer at Children's Health. "Congratulations to Pieces on their continued growth and work with health systems across the nation."

Alongside its suite of solutions that produce clinical working summaries, working progress notes, patient briefings and discharge planning, Pieces is a trailblazer in AI quality oversight. The Company developed a patent-pending platform called Pieces SafeRead that employs highly-tuned adversarial AI alongside board-certified clinician oversight to minimize errors and advance the machine learning process.

"Pieces has been at the forefront of introducing AI-powered processes into the continuum of care ecosystem and has been the first to pioneer AI solutions across a number of different areas in the inpatient setting," said Taylor Whitman, Partner at Concord Health Partners. "Our mission is to identify key technologies that can reduce costs while increasing access and improving quality of care across health systems, and through our partnership have seen how the Pieces platform can help accomplish each of those pillars. We are excited about the Company's prospects as they continue to expand and deliver their innovative offerings to a wider range of leading health systems across the country."

About Pieces Technologies
Pieces Technologies, Inc. is a healthcare AI research and development firm that applies ensemble AI methods to support the work of healthcare teams. Pieces is cloud-based and specialized in applied clinical generative AI, adversarial and collaborative AI, predictive modeling, and physician-supervised machine learning to streamline clinician workflows and improve patient, financial, and operational outcomes. For more information or to request a demo, visit www.piecestech.com

SOURCE Pieces Technologies