Augmedix today announced that it has received venture funding from DCM and Emergency Capital Partners. Financing closed on 31-Aug-2013 Founded by CEO Ian Shakil and Chief Product Officer Pelu Tran, Augmedix—a service powered by Google Glass—reclaims the hours physicians spend on the computer entering or retrieving data from electronic health records and refocuses them on what matters most: patient care.
The company also announced that it would move to a new headquarters in San Francisco and that it would have increased to 36 employees.
Augmedix will use its VC funding to expand its team and step up its efforts to reach out-patient physicians across the nation. The company generates revenue and operates a number of national health systems
‘Doctors spend more than 1/3 of their day on a computer, entering or retrieving data from electronic health records. The amount of data and documentation is overwhelming,” said Shakil. ‘Powered by Google Glass, Augmedix re-humanizes the doctor-patient interaction by delivering patient satisfaction, doctor efficiency, doctor satisfaction and health record quality. ”
Since 2012, Augmix has been working behind the scenes to build its service platform. The company has completed a number of pilot studies demonstrating significant improvements in the productivity of physicians across a variety of specialties.
‘Augmedix recovers the majority of the time that would otherwise have been spent feeding the beast,’ said Shakil, referring to the time that doctors spend on the EHR. Augmix pilots also demonstrated a high level of patient satisfaction with the service. This is a testament to Augmix’s investment in patient experience. The company educates each patient about the service and gives each patient the opportunity to decline if he or she so wishes. ‘Patient acceptance and satisfaction has been overwhelmingly high across the country—from San Francisco to rural areas,’ said Shakil.
‘We believe in Google Glass, and we expect first to see an uptake in business verticals—especially in healthcare. Ian and Pelu put together the right team to lead the revolution. We’ve looked at just about every Google Glass startup concept—and we’ve yet to see an opportunity as compelling as Augmedix,” said Kevin Spain, general partner with Emergence Capital Partners.
‘Augmedix is breaking new ground by using Google Glass in the healthcare sector. They are in the right place at the right time to help healthcare organizations fulfill mandates such as ‘meaningful use,’ while improving the quality of patient care,’ said Peter Moran, DCM’s general partner. ‘We believe that Augmedix is an exceptionally promising startup, destined for great success. They have already established a position and are seeing a strong demand with a beneficial, completely unique solution. ”
The development of the company began with the help of Rock Health (San Francisco-based digital health seed fund) and Upstart (funding/networking and mentoring platform) Since then, Augmedix has set up a host of other service partners, including Cooper, Fenwick & West LLP, PLC, Schox, Stanford Venture Studio and others.
About the Augmedic
Augmedix’s co-founders first teamed up at Stanford University to develop medical devices as part of the Biodesign program. During the course of the program, both of them realized that no matter what the specialty, the doctors were drowning in a flood of data and documentation. Their focus quickly shifted to digital health. After trying out an early version of Google Glass in the summer of 2012, both of them realized the health platform’s potential and dropped everything they needed to create the world’s first Google Glass startup. The company, Augmedix, was founded with one core belief: technology can free physicians and allow them to focus on what they do best-to take care of patients.
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