Remember fax machines? Well, a New York City startup might be rendering them a bit less obsolete using AI technology. In the healthcare industry, however, faxes never really went away. And Tenner has secured an $18 million series A funding round because it has found a way to use AI in concert with the healthcare industry’s reliance on technology popularized more than a half century ago.
While the healthcare industry still struggles to digitize data, sending and receiving patient records, audit requests and referrals are still often handled via e-fax. Tennr’s technology enables a practice to automatically read and automate the work connected to digital faxes.
“When building Tennr and this healthcare integration, we looked at what’s actually needed and saw what was possible with technology,” ,” said Trey Holterman, CEO and co-founder of Tennr. “Our number one integration today is across fax providers, on-prem file storage systems and EHRs from the 90s. And this is the real life need of the industry. But beyond that, what people miss the most in all of this is that it’s not about just automating work or making teams faster. Lots of people can build tools that make admins marginally faster–that just doesn’t move the needle. Instead, our research team is building models based around this very complex information flow, being able to parse it for one practice at a time, and then do the work so well that you can turn it into very clear growth for a business. And yes, the e-fax ends up being in the middle of it all.”
The funding round was led by a16z with participation from Foundation Capital and The New Normal Fund. Tennr has now raised a total of more than $25 million.