NarrativeDx Secures $3M Strategic Funding to Enhance AI-Powered Patient Feedback Platform

On February 20, 2019, VCBeat (WeChat Official Account: vcbeat) learned that Narrative, a company headquartered in Austin, Texas, had secured $3 million in strategic investment. This round of financing was co-led by Christiana Care Health System, Summation Health Ventures, and the Texas Medical Center, with participation from HealthX Ventures and Cultiv Capital.

NarrativeDx, co-founded by Kyle Robertson and Senem Guney in 2014, is a startup headquartered in Texas, USA, that assists hospitals in analyzing patient feedback. Built on a HIPAA-compliant, healthcare-specific artificial intelligence platform, NarrativeDx leverages natural language processing and machine learning to collect, analyze, and visualize unstructured patient feedback from internal and external sources, such as CAHPS surveys, complaint letters, and social review sites. The platform automatically highlights key areas requiring improvement—including staff, physicians, and facility units—and returns the feedback data to hospitals in the form of charts and graphs. This enables hospitals and caregivers to better understand the information and deliver appropriate services, thereby enhancing the patient care experience, attracting more patients, and ultimately improving patient satisfaction and hospital reputation.

Kyle Robertson, founder and Chief Patient Experience Officer of the company, stated that NarrativeDx is launching a new product focused on physician and nurse feedback. This initiative aims to help healthcare systems reduce staff burnout and increase revenue. Although the new product has already been piloted in clinics, it still requires further refinement. NarrativeDx will use this funding to continue innovating its products, drive sales and marketing efforts, and recruit new talent.

Robertson also pointed out that NarrativeDx was one of the sixth cohort of digital health startups in the 2018 Texas Medical Center Accelerator. Combined with two rounds of funding in 2016 and 2017, the company has raised $7.1 million to date.

Christiana Care Health System is a nonprofit teaching health system headquartered in Wilmington, Delaware, and is one of the largest healthcare providers in the Mid-Atlantic region, serving parts of Delaware, Pennsylvania, Maryland, and New Jersey.

Summation Health Ventures, established in 2014, is a strategic healthcare investment fund dedicated to providing entrepreneurial solutions for the national healthcare system.

Texas Medical Center (TMC), established in 1945 and headquartered in Texas, USA, is a life sciences and healthcare complex dedicated to patient care, research, education, and prevention.

HealthX Ventures is a seed fund focused on digital healthcare, headquartered in Madison, Wisconsin.

Capital Partners, a private equity investment firm founded in 1982 and headquartered in Norwalk, Connecticut, provides solutions for business owners, intermediaries, and executives. It is committed to helping management teams build businesses by combining strategic planning with conservative capital structures.