Triomics, a healthcare technology company that provides software for cancer centers and other healthcare providers, raised $22 million in a Series B funding round. Battery Ventures spearheaded the round, which also featured existing stakeholders such as Nexus Venture Partners, Lightspeed, Y Combinator and others.
Established in 2021, triomics builds software tools for oncology teams to help them handle large volumes of patient data and decrease administrative burden. With better cancer treatments and longer survival rates, healthcare providers are working with medical records that can fill thousands of pages.
The platform from the firm collects and examines data from physician notes, pathology reports, imaging results, lab records and other medical documents. This helps care teams to locate relevant information significantly faster and make data-driven decisions without having to sift through records for hours at a time.
Triomics started out with tools for doctors to find good clinical trials for their cancer patients. As time progressed, it largest possible be used for a broader range of clinical and operational activities on the platform. It now assists in generating patient summaries, is able to summarize the data ahead of one-on-one patient meetings, and emphasizes key details right inside health care records.
The software is also used for regulatory reporting purposes, such as submitting tumour data to government cancer registries. By automating these processes, healthcare providers will eliminate paperwork and have more time to focus on patient care.
It built its technology for oncology and has catered specifically to the needs of clinical teams responsible for patients with complex cancer cases. Today, its platform is used by major institutions like Memorial Sloan Kettering Cancer Center and Yale Cancer Center.
Over the last 12 months, Triomics has grown its customer base four times over and its annual recurring revenue tenfold. The funding will help accelerate further product development, expansion of its business operations and adoption of its platform by more cancer care organizations.
Sarim Khan, co-founder, said the company continued to work on cutting down administration tasks for oncology teams, allowing healthcare professionals to spend more time improving patient outcomes.
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