Horizon Technology Finance, a specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services and sustainability industries, provided a $17 million venture loan facility to Robin Healthcare, of which $7 million has been initially funded.
Robin is changing the administration of healthcare enabling doctors to spend more time with patients, and to more efficiently manage their practices. Robin’s proprietary device, the Robin Assistant, silently observes physician-patient visits while remote scribes – powered by AI and trained by more than one million patient visits – extracts data, identifies conditions, then builds and uploads clinical notes with medical codes, all directly to the electronic health record. Robin is backed by a consortium of well-known investors including Scale Venture Partners, Khosla Ventures, Norwest Venture Partners and Meridian Street Ventures. The company will use the loan proceeds for general corporate and working capital purposes.
“Robin is transforming how doctors practice medicine and interact with patients,” Gerald A. Michaud, president of Horizon, said. “Thanks to the Robin Assistant, doctors are seamlessly recording accurate information, enabling doctors to save valuable time previously spent on manually inputting data. We are excited to be an important part of the company’s continued growth.”
“We appreciate Horizon’s support as we continue to execute on our business plan,” Emilio Galán, CEO of Robin, said. “Robin gives patients peace of mind; physicians freedom of focus, and payors and practices measurably more accurate coding.”