The startup Triomics has raised $22 million in Series B funding to expand its AI platform, which helps oncologists and administrative staff automate data-heavy tasks such as clinical trial matching and appointment preparation. The funding round was led by Battery Ventures, with participation from existing investors including Nexus Venture Partners, Lightspeed, and Y Combinator. This is reported by Techcrunch.com .
Advancements in oncology are extending patient lifespans, but this creates challenges for medical staff in analyzing complex medical records accumulated over years. According to Triomics co-founder Sarim Khan, a single patient's medical chart can contain thousands of pages of data, including doctor's notes, imaging reports, and even fax scans.
Founded in 2021, the startup initially focused on helping doctors find suitable clinical trials. With the rise of LLM (Large Language Model) capabilities, the Triomics platform has expanded to provide verified patient summaries within the existing tools doctors use. This allows oncologists to save time on appointment preparation and spend more time interacting with patients.
The Triomics platform also automates tedious tasks for cancer centers, such as submitting tumor reports to state registries, which is a legal requirement. Prestigious institutions like Memorial Sloan Kettering (MSK) and Yale Cancer Center have chosen this platform because its models are specifically trained on oncology data.
Currently, Triomics competes in the market with AI medical scribes like Microsoft's Nuance and Abridge. Nevertheless, the startup has managed to quadruple its enterprise customer base and increase its annual recurring revenue tenfold over the past year.
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