November 21, 2022
care.ai™ Secures $27M from Crescent Cove Advisors to Introduce Ambient Intelligence to Healthcare.
The industry's first Smart Care Facility Platform reimagines AI-powered care delivery models and optimizes the clinical workforce.
care.ai, the first and only AI-powered ambient monitoring platform in healthcare, today announced a $27M funding from Crescent Cove Advisors, a multi-asset investment firm focused on technology investments, to accelerate growth and scale deployments of the industry's first smart care facility platform throughout the U.S.
care.ai’s Smart Care Facility Platform™ transforms healthcare settings, such as hospitals and nursing homes, into responsive care facilities that continuously monitor and streamline clinical and operational workflows. Powered by AI-enabled edge sensors, the platform surfaces real-time inferences and insights to alert and report on activities that help healthcare organizations improve quality, safety, and compliance while optimizing the clinical workforce. Innovative capabilities like Virtual Nursing, Virtual Sitting, and Ambient Monitoring can be easily enabled through care.ai’s Command Center, unlocking a wide array of use cases that improve patient outcomes and power more human care.
The company has already deployed its technology to over 1,500 facilities across the U.S., including hospitals, skilled nursing facilities, and assisted living facilities. care.ai plans to use the funding from Crescent Cove Advisors to build on the ongoing success and lead the market in delivering ambient intelligence to healthcare.
“The physical, emotional, and economic burden on our caregivers has never been more challenging. Processes remain manual and time-consuming, and care teams are bogged down with burdensome tasks and documentation – and unfortunately, clinicians and patients suffer the consequences,” said CEO and Founder of care.ai, Chakri Toleti. “Our mission is to enable the transformational promise of a smart care facility, providing a level of care the world has never seen. We’ve spent the last few years expanding our platform while partnering with the nation's leading health systems and long-term care organizations. I’m thrilled to have the support of Crescent Cove as we continue to scale and execute.”
care.ai’s technology is transforming care settings to help address some of the country’s most pressing healthcare challenges, including the critical nursing shortage and fiscally unsustainable models of care. Reports project that approximately 1.2 million new registered nurses (RNs) will be needed by 2030 to address the current shortage, adding pressure to an already strained system. Additionally, hospital safety and security protocols have evolved drastically without a centralized system to facilitate those changes. care.ai’s platform alleviates these pain points by saving nurses valuable time and easing the burden on care teams, while creating one technology solution that hospitals can rely on to keep patients and care teams safe and effective.
Toleti is a successful entrepreneur and innovator in the healthcare IT industry. Before founding care.ai, Toleti was the President and Co-founder of HealthGrid, an enterprise patient engagement platform designed to connect patients and providers via their smart devices. In 2018, HealthGrid was acquired by Allscripts. Before that, he co-founded Galvanon, the company that first introduced patient self-service kiosk registration to automate patient check-in and intake processes at hospitals. Galvanon was acquired by NCR in 2005.
“We are excited to partner with Chakri and his talented team, who have a proven record of innovating and building successful businesses in healthcare IT,” said Jun Hong Heng, Founder and Chief Investment Officer at Crescent Cove Advisors. “Through AI and smart technology, care.ai improves the lives of both care teams and their patients. We look forward to supporting the company in its critical mission of transforming the way healthcare is delivered.”
About care.ai: care.ai’s transformative innovation enables AI-powered smart care facilities to ambiently monitor clinical and operational workflows and learn from them in real-time to predict, prevent, and protect, optimizing the patient and provider experience and ultimately powering more human care. Deployed in over 1,500 healthcare facilities, care.ai partners with health systems and long-term care facilities to fulfill the company’s mission to deliver on the transformational promise of a smart care facility, providing a level of care the world has never seen. To learn more, visit care.ai.
About Crescent Cove Advisors: Crescent Cove is a multi-asset investment firm focused on technology investments and dedicated to supporting entrepreneurs and founders. Established in 2016, Crescent Cove leverages its global network of relationships and unique insight across markets, emerging industries and technologies to build businesses and accelerate value creation across its portfolios. For more information, visit www.crescentcove.com.
Mar. 04, 2020
care.ai™ Announces Partnership with the Texas Hospital Association to Accelerate the Adoption of AI-powered Autonomous Monitoring Across Texas
care.ai™, an AI leader in healthcare, today announced a partnership with the Texas Hospital Association (THA) to create statewide adoption of artificial intelligence for autonomous monitoring. This program provides awareness to care providers about their patients, providers and business.
The partnership between care.ai and THA will accomplish two key goals: accelerate the power and effectiveness of AI to deliver more efficient and higher quality care in a cost-effective manner, as well as establish a strategic framework for collaborative learning and adoption of AI in healthcare.
care.ai and THA will establish a joint innovation demonstration in Austin, Texas – where care.ai will showcase its Self-Aware Room® in a simulated hospital environment. Members of the Texas Hospital Association will be able to see how care.ai's platform can transform clinical and operational workflows.
"We're incredibly proud to partner with THA to demonstrate AI's powerful potential to revolutionize healthcare," said Chakri Toleti, founder and CEO of care.ai. "As healthcare innovators, we are focused on bringing patients and providers closer together, making care more human. This partnership with THA will help bring that vision to life."
"Texas hospitals have always been trailblazers when it comes to the use and adoption of leading-edge healthcare technology," said Fernando Martinez, Ph.D., president and CEO of the Texas Hospital Association Foundation. "Through this new partnership with care.ai, Texas hospitals will have the opportunity to experience the use of AI in a hands-on local lab environment. They will get to see in real time the value that autonomous monitoring can bring to their facilities. We're proud to connect our members to cutting-edge technologies that have a transformative impact on healthcare delivery in Texas."
care.ai's autonomous monitoring platform gives care teams an unparalleled advantage by providing real-time information about the patient, caregivers and their business. Through the use of its active learning neural networks, care.ai's edge sensors can autonomously monitor for conditions where timely human care can improve outcomes and mitigate risk.
The care.ai neural network algorithms are built using the world's most extensive and proprietary human behavioral library. care.ai's machine learning capabilities include first-of-its-kind AI algorithms to naturally identify strengths and expose gaps in workflows and partner with caregivers to improve accuracy, efficacy and efficiency.
Oct. 28, 2019
care.ai™ Collaborates with NVIDIA to Pioneer Artificial Intelligence-enabled Autonomous Patient Monitoring in Healthcare
care.ai™, a healthcare AI innovator, announces today its collaboration with NVIDIA to transform how healthcare is delivered. care.ai’s cutting edge end-to-end AI solution provides an autonomous monitoring platform that leverages NVIDIA’s world-leading platform for AI at the edge.
NVIDIA's Jetson platform, an AI computer that delivers high-performance computing power for running modern AI workloads, will serve as the core compute engine for care.ai's autonomous monitoring edge solutions. This collaboration provides a breakthrough in deploying care.ai's machine-vision based deep neural networks to the edge.
Contextual behavior recognition will revolutionize the way care is delivered in every care setting. With the ability to detect, infer and predict adverse events, providers will be able to impact care like never before. care.ai's deep neural networks use proprietary and custom-built human behavior data sets – the largest of their kind in the world. In addition, the AI networks are designed to continuously learn with high accuracy as they detect and evaluate a full range of behaviors.
"There is a great number of preventable incidents that occur within hospitals and nursing homes each year: falls, infections and protocol violations," said Chakri Toleti, Founder and CEO of care.ai. "As a leader in AI, NVIDIA was a clear choice for us as we built the world's most advanced solution to these yet to be solved problems. Through this collaboration, we now have the ability to run our deep neural networks on devices while maintaining a small physical and energy footprint."
NVIDIA Jetson drives computationally intensive applications for AI at the edge to enable care.ai's autonomous monitoring solution to recognize and infer patient activities and staff workflow patterns in real-time at an enterprise scale.
"AI has the potential to improve healthcare across a range of areas, and ultimately help save lives," said Mona Flores, MD, Global Lead for Hospitals and Clinical Partnerships at NVIDIA.
"Our Jetson platform provides unprecedented processing power to help care.ai's application deliver more efficacious and efficient patient monitoring in healthcare."
care.ai's autonomous monitoring platform gives care teams an unparalleled advantage by providing real-time information about the patient, care givers, and their environment. Through the use of its active learning neural networks, the edge sensors can predict and prevent a multitude of potentially fatal mishaps, transforming the way care is delivered across all care settings.
Oct. 24, 2019
care.ai™ Collaborates with Google to Launch AI-powered Autonomous Monitoring Platform on the Edge
care.ai™, a healthcare AI innovator, today announces a partnership with Google, to use Google’s Coral Edge TPU to power autonomous monitoring in healthcare. This collaboration enables care.ai’s platform to leverage accelerated neural networks at the edge, to transform an ordinary room into a “Self-Aware Room®,” in any care setting at enterprise scale.
Hundreds of thousands of patients die each year, as a result of avoidable falls, pressure ulcers, infectious disease, and many more preventable medical errors. care.ai's breakthrough invention will create a transformative impact across clinical and operational processes to establish a new standard of care Using multiple modalities, care.ai sends context-aware, intelligent notifications to staff to alert and inform them about what is happening in any room at any time. This new power of knowledge transforms archaic, reactive tasks into intelligent, proactive workflows "Imagine if we brought the power of AI with autonomous monitoring to healthcare environments – we could prevent injuries, diseases, protocol breaches, and ultimately fatalities; while improving staff efficiency," said Chakri Toleti, Founder and CEO of care.ai. "By utilizing Google's Edge TPU, care.ai has done just that - we have built an AI sensor to monitor, predict, and infer behaviors using billions of data points in real-time. It is truly the world's most advanced AI platform for healthcare."
The ease of implementing care.ai's patent-pending platform in all care settings will let organizations seamlessly adapt and integrate AI into their environments. Our advanced deep neural networks run at the edge, maximizing the predictive power to nanoseconds, bringing substantial improvements to operational readiness and clinical quality.
"We believe we are on the cusp of an amazing revolution for AI in healthcare and are proud to partner with care.ai to witness it becoming a reality," said Billy Rutledge, Director of Coral. "By combining care.ai's AI-powered autonomous monitoring platform with our edge computing framework, we can address some of the most demanding challenges in healthcare in a way that's never been accomplished before this collaboration."
The platform's neural network algorithms are built using the world's most extensive library of human behavioral data, proprietary to care.ai. Our deep neural networks can actively learn and evolve on a more advanced level than any other healthcare solution. In addition, care.ai's machine learning capabilities include first-of-its-kind enterprise staff monitoring algorithms to naturally identify strengths and expose weaknesses in workflows; to learn gaps and automatically improve accuracy, efficacy, and efficiency.
Oct. 24, 2019
Keeping loved ones safe while preserving independence with Coral and care.ai™