Commure Secures $200Mn Growth Funding to Advance AI Healthcare Platform
The funding will strengthen sales, marketing, and implementation efforts, particularly those related to its AI-driven platform used in healthcare operations.
Commure, a healthcare AI and software firm, has raised $200 million in growth financing from General Catalyst’s Customer Value Fund (CVF), the company confirmed.
The funding will strengthen sales, marketing, and implementation efforts, particularly those related to its AI-driven platform used in healthcare operations.
General Catalyst’s CVF model involves pre-funding a company’s sales and marketing budget, with returns linked to customer acquisition performance. “The focus is on aggressively growing our sales and marketing teams and our sales and marketing efforts, including the field sales teams and the implementation teams. CVF is a pretty unique instrument in that it goes directly towards accelerating our go-to-market,” said Tanay Tandon, CEO of Commure.
Commure’s platform includes solutions for revenue cycle management, ambient AI documentation, clinical workflows, and practice management. The company will use this financing to scale its go-to-market initiatives without diluting equity. Tandon noted, “We had a readout this last quarter where the mid-market revenue cycle and ambient teams both blew past their quotas. Usage and adoption were high, and it's clear there's a huge market here.”
The company reports over $200 million in contracted annual recurring revenue, with ARR doubling for three consecutive years. “We have a clear view into the levers to allow for profitability if we wanted it, but we are seeing strong demand and are choosing to invest in growing sustainably,” Tandon added.
Founded in 2020 after being incubated by GC in 2017, Commure has grown through mergers and acquisitions, including its merger with Athelas and acquisitions of Augmedix and Memora Health. It serves over 130 health systems and collaborates with HCA Healthcare to develop ambient AI tools for emergency and ambulatory care workflows.
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