AcuityMD has raised $80m to advance its provision for assisting medtech companies in accelerating the adoption of their products across healthcare settings and geographic markets.
The Boston-based company’s Series C financing round was led by existing investor StepStone Group. VC firms Benchmark, Redpoint Ventures, ICONIQ, and Atreides Management also participated.
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Used by 16 of the top 20 medtech companies, AcuityMD’s platform identifies metrics including physicians, facilities, networks, procedures, and reimbursement dynamics. Aggregating this data alongside medtech companies’ internal data, including contracting information, product indications, territory structure, and CRM activity, companies can better estimate commercial execution and reach the right end markets for their products.
With the fresh funding in hand, which brings AcuityMD’s total funding to date to over $160m, the company plans to augment its existing platform with artificial intelligence (AI) with the launch of AcuityAI. According to the AcuityMD, its AI platform’s overall aim is to avail medtech company sales representatives with more streamlined insights.
As well as advancing its AI capabilities, AcuityMD also intends to use the funding towards deepening the medtech ontology of it data model, and to expand the platform beyond commercial pursuits, with a view to accelerating adoption across the full product lifecycle.
AcuityMD CEO, Mike Monovoukas, commented: “AI will transform medtech, but only with the right context, deeply embedded in the workflows where decisions are made. AcuityMD is that context layer, serving the rep in the field, the commercial leader planning territories, and the teams launching the next generation of innovation.”
AI is having an appreciable impact on driving efficiencies in the broader healthcare space. According to a report by GlobalData, the combined AI market across healthcare was valued at $11.9bn in 2024 and is expected to reach a valuation of $57.4bn in 2029.
AI has emerged as a constituent part of the UK Labour Government’s 10-year plan for reforming the National Health Service (NHS). Meanwhile, on 20 April Boehringer Ingelheim opened an AI and machine learning (ML) innovation centre in London’s King’s Cross, with the aim to harness the technologies to drive drug discovery and research to improve patient outcomes.
