Smart Reporting secures 23 million euros in financing round

Smart Reporting secures 23 million euros to increase medical efficiency. Bayern Kapital invests in the future of medical documentation.

Munich/Nuremberg, April 22, 2024 - Smart Reporting, a provider in the field of voice-controlled medical reporting technology, has successfully closed a Series C financing round. In addition to TVM Capital Life Science and the existing investors, Bayern Kapital also participated in the round with the ScaleUp Fund Bavaria with a total of 23 million euros. These new funds will be used to expand international partnerships, strengthen the company's market presence and for product development.

Increasing efficiency in medical documentation

Medical documentation takes up to 40 percent of doctors' time. Smart Reporting, founded in 2014 as a spin-off from Ludwig-Maximilians-Universität (LMU), addresses this problem.

Our focus is on further penetrating global healthcare IT and developing AI-based solutions.

Prof. Dr. Wieland Sommer, founder and co-CEO of Smart Reporting

The company focuses on data-driven reporting and automation through imaging AI and generative AI in the medical field. With its "SmartReports" software, Smart Reporting offers a fully voice-controlled documentation solution for doctors. This cloud-based software is primarily used in clinical areas such as radiology and pathology and significantly reduces reporting time, improves the quality of findings and facilitates interdisciplinary collaboration.

Expansion of partnerships and market presence

Smart Reporting pursues a sales approach based on international healthcare IT partnerships, including Siemens Healthineers, GE Healthcare and Canon. The new funding will help to further expand these partnerships and strengthen the company's international market presence.

Healthcare systems around the world are facing similar challenges. We are convinced that technology solutions such as SmartReports can make a decisive contribution to overcoming these challenges.

Monika Steger, Managing Director of Bayern Kapital

Smart Reporting, founded in 2014 by Prof. Dr. Wieland Sommer, has established itself as a provider of documentation software in the medical field. With an interdisciplinary team of 80 employees, the company is continuously driving innovation to meet the increasing demands of the healthcare sector.