AMBOSS Raises €30M in Series B Funding
Since its last funding round in 2017, AMBOSS has grown from an exam preparation tool for German medical students to a global platform for doctors, empowering more than half a million users to apply the latest medical knowledge.
Berlin, Germany, September 30, 2019 – AMBOSS has secured €30 million in Series B funding led by Partech’s growth fund, with Target Global acting as a co-investor. Existing investors Cherry Ventures, Wellington Partners and Holtzbrinck Digital also participated in the new financing round.
AMBOSS started in 2013 in Berlin as a study platform for medical students and reached over a 90% market share in less than two years. Since then, AMBOSS has evolved to become the most comprehensive and technologically-advanced knowledge platform for medical professionals around the world.
With the new funding, AMBOSS will accelerate the global rollout of its product. Additionally, AMBOSS will use the funds to further invest in its smart guidance application to improve daily clinical decision-making for both generalist and specialist doctors.
Omri Benayoun, General Partner at Partech, commented: ”Better-structured medical knowledge is the foundation to improve healthcare. Physicians and students work in a time-constrained environment, where knowledge sources are proliferating, and are often complex to access and apply. At AMBOSS, software engineers, doctors and scientists leverage technology to bring simplicity to medical knowledge modelling and delivery. We are impressed by the unique cutting-edge approach of AMBOSS to pioneer faster breakthroughs and are excited to partner with the visionary and passionate team, which is impacting global health positively.”
With the opening of the US headquarters in New York in 2017, leading doctors from Harvard, Yale and Stanford University joined the AMBOSS team and successfully launched the platform in the US market. Now, more than 50 medical schools around the world, including the New York University School of Medicine (NYU), have adopted AMBOSS as an essential study resource for their students.
Today, the AMBOSS mobile app is used on a daily basis in almost every German hospital. The platform has become an essential decision-making tool for doctors. Two of the largest hospital groups in Europe use AMBOSS as a standard platform for their doctors. In close partnership with leading medical societies, AMBOSS incorporates the latest medical guidelines, pushing evidence-based medicine further, offering higher standards and improving the quality of healthcare.
“Medical knowledge is exploding and it is almost impossible for doctors to quickly obtain reliable clinical information,” said Benedikt Hochkirchen, co-CEO of AMBOSS. “Our mission is to connect every doctor with precise medical knowledge to provide the best possible care. This new funding will allow us to make a meaningful contribution to global health. We are proud of our team’s exceptional achievements and grateful for the trust of our investors. Together, we want to drive the transformation medicine has been waiting for.”
AMBOSS is a medical technology company with offices in New York, Berlin and Cologne. Its knowledge platform has fundamentally changed the way medical know-how is acquired and utilized at the point-of-care. Students use the interactive library and high-yield question bank for general study and exam preparation, while doctors rely on AMBOSS to make effective clinical decisions guided by evidence-based recommendations. Founded in 2012 by doctors for doctors, the company’s international team has grown to over 200 physicians, scientists and software engineers, all striving to better serve doctors around the world. Today, more than half a million healthcare professionals in over 180 countries rely on AMBOSS.
Partech is a global investment firm with offices in San Francisco, Paris, Berlin and Dakar. It brings together capital, operational experience and strategic support for entrepreneurs at seed, venture and growth stages across multiple continents, with over €1.3B investment capacity. Investments range from $200K to $50M in a wide range of technologies and businesses for enterprises and consumers, from software, digital brands and services, to hardware and deep tech across all major industries. Companies backed by Partech have completed more than 20 initial public offerings and more than 50 strategic exits above $100M. Current portfolio: partechpartners.com/companies
ABOUT TARGET GLOBAL
Target Global is an international investment firm headquartered in Berlin, with €700m in assets under management. It connects the key European startup ecosystems and leverages the unique DNA of each of the target geographies, across its global network. Building on an experienced team with substantial operational and investment experience, Target Global helps exceptional entrepreneurs to build market leaders. Target Global invests across multiple stages, investing in fast-growing tech companies, targeting trillion € markets. Target Global’s Partners have been investing for more than 15 years in the digital technology space, backing some of the key European success stories. The Target Global portfolio includes companies such as Auto1, Delivery Hero, Omio (formerly GoEuro), TravelPerk and WeFox. More about Target Global: www.targetglobal.vc