Berlin-based medical education platform AMBOSS has raised €30 million in a Series B funding round led by investment firms Partech and Target Global, with support from existing investors Cherry Ventures, Wellington Partners and Holtzbrinck Digital.
Founded in 2013, AMBOSS started as a study platform for medical students. However, since its last funding in 2017, the startup has grown from an exam preparation tool for German medical students to a global platform for doctors to learn the latest medical knowledge. AMBOSS platform is now used by more than half a million users to apply the latest medical knowledge.
While students use AMBOSS’s interactive library and question bank for general study and exam preparation, doctors use the platform to learn the latest medical information to make more effective clinical decisions guided by evidence-based recommendations.
AMBOSS will use the new funds to accelerate the rollout of its platform globally. The medtech startup will also use part of the fund to further invest in its smart guidance application, which provides evidence-based information, to help doctors improve clinical decision-making at the time of care.
Speaking on the need of reliable clinical information, company's mission and on the funding, Benedikt Hochkirchen, Co-CEO of AMBOSS, said,
“Medical knowledge is exploding and it is almost impossible for doctors to quickly obtain reliable clinical information. Our mission is to connect every doctor with precise medical knowledge to provide the best possible care. This new funding will allow us to make a meaningful contribution to global health. We are proud of our team’s exceptional achievements and grateful for the trust of our investors. Together, we want to drive the transformation medicine has been waiting for.”
AMBOSS opened its US headquarters in New York in 2017, and since then leading doctors from Harvard, Yale and Stanford University joined the team and successfully launched the platform in the US market. Now, more than 50 medical schools around the world, including the New York University School of Medicine (NYU), have adopted AMBOSS as an essential resource for their students.
Emphasizing heavily on the importance of better-structured medical knowledge to improve healthcare, Omri Benayoun, General Partner at Partech, commented saying,
“Better-structured medical knowledge is the foundation to improve healthcare. Physicians and students work in time-constrained environment, where knowledge sources are proliferating, and are often complex to access and apply. At AMBOSS, software engineers, doctors and scientists leverage technology to bring simplicity to medical knowledge modeling and delivery. We are impressed by the unique cutting-edge approach of AMBOSS to pioneer faster breakthroughs and are excited to partner with the visionary and passionate team, which is impacting global health positively.”
AMBOSS incorporates the latest medical guidelines, pushing evidence-based medicine further, offering higher standards and improving the quality of healthcare in close partnership with leading medical societies. The company reportedly says that today its mobile app is used on a daily basis in almost every German hospital, and has become an essential decision-making tool for doctors.