SimCare AI raises USD $2m to enhance training platform

SimCare AI has raised USD $2 million in seed funding to expand its artificial intelligence-based healthcare simulation platform.

According to the announcement, the company's AI-driven solution sets a new benchmark in clinical training by using sophisticated AI patients. The development aims to cut down the time and cost of training while meeting strict accreditation standards. The seed funding was led by Y Combinator and Drive Capital, with additional investments from Harper Court Ventures Fund, Singularity Capital, Triple S Ventures, Goodwater Capital, Asymmetry Ventures, Sand Hill North, and Transpose Platform.

SimCare AI was founded to address a fundamental issue within the healthcare sector, particularly in the area of clinical training. Traditional methods of medical training necessitate extensive supervised, hands-on practice which can be challenging in preparing the workforce for managing modern healthcare challenges, such as chronic diseases.

The journey of SimCare AI started when Vrishank Saini, one of the founders, experienced firsthand the difficulties of clinical exams and the prohibitive costs associated with preparatory courses. Saini, along with co-founder Tigran Bdoyan, developed an AI-based solution that remarkably attracted 2,500 users and generated USD $5,000 in monthly recurring revenue in merely three weeks.

"We took a risk to prove our point," stated Vrishank Saini, CEO and Co-founder of SimCare AI. "By using AI patients, we've set a clinical benchmark for how training should be measured - efficient, reliable, and cost-effective."

SimCare AI's platform is adaptable for a variety of specialties and use cases such as residency programs, social work programmes, and even for telehealth companies to evaluate and train potential hires. The company has already closed 30 pilot programmes with various institutions, including the University of Pennsylvania.

Professor Emeritus of Medicine and Psychiatry, University of North Carolina, Douglas A. Drossman MD, President at DrossmanCare, commented on the partnership with SimCare AI: "I've never encountered a company with such a refined ability to replicate the nuances of a clinical encounter, offering a truly remarkable training experience."

The AI technology developed by SimCare AI claims to validate clinical competency with significantly fewer patient encounters than traditional methods. The precision of this technology allows education institutions to standardise their training while effectively tracking and verifying student competencies in alignment with accreditation standards.

Molly Bonakdarpour, Partner at Drive Capital, remarked: "SimCare AI is addressing a clear need in healthcare training. We're impressed with their vision and execution and look forward to supporting their continued growth in AI-driven healthcare solutions."

SimCare AI is set to continue its development by integrating more comprehensive clinical data, with the aim of standardising clinical training and evaluation across the healthcare industry. According to Saini, this will provide healthcare organisations with a consistent method to train clinicians effectively and efficiently.