Digital healthcare platform provider Think Research has raised $25 million.
New and existing investors include certain funds of Fidelity Investments Canada ULC, Kayne Partners, Canaccord Genuity Group, and National Bank of Canada.
“Our suite of clinical decision support tools help providers deliver the best care possible while generating treatment and behaviour data to fuel next generation healthcare AI applications. This round of funding gives Think Research more than $25 million in additional capacity to accelerate our innovation on a global scale,” said Sachin Aggarwal, the CEO of Think Research.
Think Research’s suite of products allow care teams to document progress notes and collaborate, visualize trends in clinical practice and population health, and streamline scheduling. The software is used by over 1,000 facilities in Canada, the US, and Europe. In November 2017, Think Research received $5 million from the Ontario government.
“Think Research’s expansion over the past twelve months, particularly into the healthcare market in the United States, has us very confident that the company is well-positioned to continue accelerating the adoption rate for their suite of digital support tools on both sides of the border,” said Nishita Cummings, partner at Kayne Partners. “Our investment will help ensure they remain a leader in this sector as more and more hospitals and facilities look for cost-effective digital solutions that fit within their existing systems.”
In Ontario, Think Research’s solutions are being deployed in over 100 hospitals and all 628 long-term care facilities. The company’s personnel numbers have also grown, and they now employ over 220 people at their headquarters in Toronto.
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