Recare, a Berlin-based provider of technology solutions for hospitals and care providers, has closed a growth financing round of up to €37 million, including a €7 million option, led by DNV.
The round included participation from CIBC Innovation Banking and other investors, and makes DNV the largest shareholder in Recare.
Founded in 2017 by Maximilian Greschke and Charles Cote, Recare is focused on reshaping discharge management and facilitating effective patient transfer from hospitals to care providers. The HealthTech company aims to improve hospital operations and care coordination through its AI-driven workflow technology.
Recare’s AI agent is designed to automate administrative tasks and coordinate clinical and administrative workflows across departments by connecting existing hospital IT systems. It automates documentation and routine tasks such as medical letters and handover protocols, and extracts and structures data from PDFs, scans and free text into interoperable formats to break down data silos and support end-to-end workflow continuity. The company says its network connects approximately two-thirds of all German hospitals, more than 650 rehabilitation clinics and 26,000 nursing and homecare providers.
The fresh capital will be used to fast-track the introduction of a new AI agent to hospitals and care facilities and to expand Recare’s international business, accelerating the roll-out of its platform across Germany and abroad.
“Hospitals are under enormous operational pressure, as healthcare professionals spend increasing time on administrative tasks—leaving less capacity for what matters most: caring for patients. Recare’s AI agent platform relieves a large part of this administrative burden by leveraging unstructured data to rapidly orchestrate workflows. The new investment into our business will accelerate the roll-out of our AI agent across Germany and abroad, helping healthcare providers to transform their workforce capacity.”
