Recare secures 37 million euros

The Berlin-based healthtech company Recare has closed a financing round of 37 million euros, including an option for a further 7 million euros. The round is led by the international testing, insurance and risk management provider DNV. This makes DNV the largest shareholder in Recare. CIBC Innovation Banking is also involved.

Focus on AI-supported relief for hospitals and care facilities

Recare develops software solutions for hospitals and care facilities and has grown strongly since its foundation in 2017. According to the company, around two thirds of German hospitals and more than 26,000 nursing staff now use the company's SaaS platform, which provides digital support for discharge management and aftercare.

The newly raised capital will be used in particular to drive forward the market launch of an AI agent. The aim is to significantly reduce the workload of medical and nursing staff by automating administrative tasks and coordinating processes across different IT systems.

AI agent as a central hub for administrative processes

Recare's AI agent handles automated documentation, the creation of doctor's letters and handover protocols as well as the coordination of clinical and administrative processes across departments. The solution also processes unstructured data from PDFs, scans and free text and converts it into structured, interoperable formats. The aim is to reduce data silos and enable end-to-end processes.

Hospitals are under great pressure because more and more time is being spent on administration instead of patient care. Our AI agent takes on a large part of these tasks.

Maximilian Greschke, CEO of Recare

International expansion and strategic partnership with DNV

In addition to product development, the financing also serves Recare's international expansion. For DNV, the investment represents a strategic strengthening of its own position in the German and European healthcare market. The company has been active in the healthcare sector for decades and is continuously expanding its portfolio in the market.

Recare shows how intelligent processes can enable measurable efficiency gains in the healthcare sector. Recare's market position and focus on secure, interoperable data fit very well with our strategy.

Daniel Holth Larsen, Managing Director Digital Health at DNV

CIBC Innovation Banking also sees Recare as a relevant solution provider for a central problem in the healthcare sector. Administrative tasks tie up considerable resources that are lacking elsewhere. Recare addresses this bottleneck with a scalable and practical approach.