Navina, a clinical intelligence company, closed a $55 million Series C funding round.
The round was led by a division of investment bank Goldman Sachs. Other investors in the round included venture capital firms Vertex Ventures Israel, Grove Ventures and Alive Israel HealthTech Fund.
The Chelsea-based company develops artificial intelligence tools to help providers with chart reviews, risk adjustments and data processing. Navina said in a news release it will use the capital to help the company scale.
Navina is part a crowded field of AI companies vying to help providers improve their administrative and clinical workflows. A number of vendors have added AI agents, or specialized tools developed to help organizations complete time intensive functions more efficiently. At the same time, ambient clinical documentation companies are seeking to expand their reach into new specialties and broaden their features to include more workflow benefits.
Navina primarily sells its products to hospitals, health systems, digital health companies and payers. The company will accelerate development of its AI tools to help providers with visit preparation and pre-charting, diagnosis capturing and automated documentation, said Navina’s CEO and co-founder Ronen Lavi in a statement.
The round brings Navina’s total funding to $100 million.
The investment is the third healthcare-related announcement from Goldman Sachs in recent weeks. The bank led a $50 million round in digital nutrition company Fay in February and closed an undisclosed investment in Frazier Healthcare Partners, a Seattle-based, healthcare-focused private capital firm last week.
This story originally appeared in Modern Healthcare.
