Toronto – March 22, 2021
Wisedocs, which provides machine learning software-as-a-service for medical record processing, has closed an oversubscribed C$4.1 million Seed financing round. The investment was led by Ripple Ventures, with participation from GreenSky Accelerator Fund IV, and angel investors including George A. Papayiannis of Vena Solutions, and startup veteran Tim Lett.
Wisedocs’ seed financing will support continued expansion into the United States. Wisedocs launched in the U.S. at the end of 2021 with the opening of new offices in Florida to support a growing US customer base. With recent acceptance into the 2022 MassChallenge Healthtech program and this new investment, Wisedocs will continue to optimize the efficient processing of medical records.
Wisedocs’ software relies on proprietary machine learning models using Intelligent Character Recognition (ICR) to read and analyze various documents involved in a medical record review.
Connor Atchinson, founder and CEO, said “The support from our investors in closing this round of seed financing is an important move in supporting Wisedocs’ continued growth across the U.S.”
“We are thrilled to be an early investor in Wisedocs,” said Michael List, Managing Partner at Greensky Capital. “The Wisedocs document processing solution for the insurance and medical sectors will drive significant efficiency in these industries. We look forward to their continued success, including during their expansion into the U.S.”
Atif Khan, who brings 20+ years experience in technical leadership, is joining Wisedocs as the new VP Engineering. George Papayiannis, CTO of Vena Solutions, has also joined the company as an Advisor.
“Wisedocs is changing how the insurance industry operates by adding efficiency and removing barriers, such as cost and time, as it applies to medical records,” states Matt Cohen, Founder & Managing Partner of Ripple Ventures. “Their technology is helping organizations globally deal with the transition from paper to digital. Ripple is excited to continue supporting Connor and the team in scaling its capabilities with the onboarding of several key technical leaders.”
Wisedocs is a software platform that makes it easy to sort, understand, and organize unstructured medical records through proprietary Intelligent Optical Recognition and Machine Learning. They are on a mission to erase the headache of manual work to create a more positive experience for insurance companies, legal firms, healthcare providers, and their claimants. Founded in 2018, Wisedocs is at the forefront of AI-enabled ICR for medical records.
About GreenSky Capital Inc.
GreenSky Capital Inc. is an award-winning Toronto-based firm that makes investments in early-stage Canadian technology companies through its affiliated venture capital funds and through facilitating the GreenSky President’s Club, a FedDev-registered angel group. Our principals bring a combination of experience in technology, entrepreneurship, law, and finance to high-growth potential companies and dedicated entrepreneurs. Learn more about GreenSky at www.greenskycapital.com.
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