The co -founder of Tennr Diego BauGH initially met the nightmare of the patient transfer system when he was hospitalized with stomach problems in college. He was said to meet with a specialist, but did not hear from them for six weeks. He decided not to make an appointment, but was hospitalized again. A further six weeks passed before hearing from the specialist.
It turns out that the problem about the killed bureaucracy that the US health system is is omnipresent. Delays, rejections and broken services are available to specialists after the first medical line – primary care, emergency care and emergency rooms.
BauGH and his co -founders Trey Holterman and Tyler Johnson have been working on solving the problem since 2021 when they founded their startup Tennr. The company based in New York has exploded in just a few years and recently closed a Serie C financing round of $ 101 million. Assets Can report exclusively, less than a year after completing a 37 million dollar series B.
The new round, headed by Venture Capital company IVP with participation of existing investors such as Andreessen Horowitz and Lightspeed, estimates Tennr with $ 605 million and is therefore one of the fastest growing startups for health technology in a vertical vertical that is increasingly dominated by companies for artificial intelligence.
And while Tennr has built and trained his own proprietary model to help doctors and notes from the doctors, said Holterman -the tennrs CEO -that he is trying to avoid the company as another AI health company.
“I want to talk about problems and talk about solutions,” he said to Assets. “I don’t just want to talk about the technology.”
Transfer headache
Before the founding of Tennr, Holterman was always interested in health care and worked as a software engineer for the Medicare Platform Health IQ and the Fitness Company Strava. However, the idea of fighting the transfers of the patients was created from the experience of his co -founder to find a specialist and his mother who works in family medicine and complained about the problem over the years. “I should probably have heard my mother earlier, which in my opinion is a story that everyone knows,” joked Holterman.
When he was dug, he learned that a third of the Americans are transferred to the special care or a follow-up form of treatment every year, but more than half of those never take the next step. The goal for tennr was to create a system that would help decipher the engaged web paper stuff in order to automate the process and find out important details such as justification, advantages and paying rules.
Even before Chatgpt broke into the stage at the end of 2022, the founders of Tennr began to build their own special model that was trained on tens of millions of medical documents and developed especially for the application of patient transfers. Holterman said that Tennr’s is superior to this application even with the growing popularity of generalized AI models of companies such as Openai and Anthropic, since it takes up the hyper-specific type of information that is not sensible for broader competitors, as is known to interpret this and doomithological doodles. “Betting on open source and bets on a proprietary data record that we have accumulated and continues to destroy the benchmarks completely,” said Holterman. (Tennr corresponds to regulations such as hipaa through development.)
While the transfer system may appear like a niche market, the IVP partner Zeya Yang says that Tennr has found a strategic wedge in which it can expand services for specialists, general practitioners and patients. Yang invested for the first time in Serie A from Tennr when he was in Andessen Horowitz, and decided to head his series C after entering IVP in 2024.
He said that potential growth areas for tennr include the adaptation of new subvertigals in medical specialties that are currently the main actors of the company, as well as the sale of new tools within the transfer workflow such as review of the insurance information. “This can be a very large company if you find out this type of feature” Assets. Tennr is already expanding its product with a network function with which both general practitioners and patients can have visibility in the transfer and the payment process.
While Holterman refused to submit specific financial figures for the business, he said that the company is in the eight income and tripled the level when its series B increased in October. And as humans and companies who are increasingly looking at KI solutions for their medical needs, he bet that Tennr’s special approach is a better solution. “It’s not about automating work,” he said. “It is really a question that the patient actually gets the service and understands what he will cost so that he will appear.”
