Healthcare is undergoing a big digital transformation and Avelios is one of the forerunners. The Munich-based startup has raised $31M in Series A funding led by Sequoia to modernize outdated hospital IT systems with AI-driven and cloud-based solutions.
Avelios: Transforming Legacy Systems
Many hospitals still run on legacy software that has not been updated for decades, causing inefficiencies in administration and patient care. It is solving this by building an end-to-end hospital information system that integrates electronic health records (EHR), billing, clinical data, lab results and patient portals.
The startup’s modular approach allows hospitals to deploy its system in phases, without the costly and disruptive “Big Bang” replacements of traditional monolithic software solutions.
Backed by Sequoia and Other Key Investors
The latest funding round was led by Sequoia’s London office, with existing investors High-Tech Gründerfonds and Revent contributing. In 5 years Avelios has already 12 major German hospitals on board including Sana Kliniken AG and Ludwig Maximilians-University Hospital.
Avelios’ COVID-19 Origins
Sebastian Krammer, doctor and co-founder of Avelios, saw firsthand the inefficiencies of manual patient tracking during the COVID-19 pandemic. Together with Nicolas Jakob and Christian Albrecht they developed a modernizing hospital IT system with AI.
A Growing Market and Strategic Expansion
With SAP dropping its legacy hospital IT solutions over 1,000 hospitals will need to switch to new providers. Avelios is positioning itself as the number one contender, even SAP recommends them as a transition partner. It is in talks with hospital chains in Spain, France and UK for further expansion.
The Future of AI in Healthcare
As hospitals ask for AI-solutions, structured and interoperable data is key. Avelios’ system supports AI-integration, so it’s future-proof for healthcare institutions.
With strong funding and a clear vision Avelios is set to change the healthcare IT landscape and make hospital operations more efficient and data-driven. As the digital transformation accelerates Avelios is one to watch.
