Avelios, a Munich-based startup, is on a mission to overhaul outdated hospital software systems with its innovative healthcare IT solutions. The company recently secured €30 million ($31 million) in a Series A funding round led by Sequoia, with participation from Revent, High-Tech Gründerfonds, and other individual investors. This funding is a testament to Avelios’s impressive growth, having previously operated on just €5 million of prior funding.
Founded by a team of 11 medical doctors, Avelios aims to modernize healthcare software by providing end-to-end systems that streamline administrative processes in hospitals. The company's solutions include electronic health records (EHR), billing systems, clinical records and lab results, patient portals, and research environments. Avelios's modular approach allows for seamless integration and updates, setting it apart from legacy systems that often struggle to keep pace with modern demands.
“Some healthcare organizations may not necessarily be planning for obsolescence of these operating systems,” – HIMSS
Avelios's CEO, Christian Albrecht, emphasized the importance of modularity in their system, highlighting it as a key differentiator from existing legacy players. This approach allows the company to offer a comprehensive solution that can adapt to the evolving needs of healthcare providers. The system is built using modern tools like AI and cloud services, ensuring it remains usable and efficient while providing better insights into healthcare trends and emerging issues.
“Every asset has a useful life, and it is important for organizations to plan for its end of life.” – HIMSS
The startup's CTO, Nicolas Jakob, is an expert in deep learning and has played a crucial role in developing the system. Jakob's expertise has been instrumental in integrating AI into the platform, despite the challenges posed by outdated hospital systems. Avelios recognizes the limitations of legacy systems and has designed its solutions to address these root causes before implementing advanced AI functionalities.
“Niko is a software engineer and quite an expert on deep learning,” – Avelios
Avelios has already made significant strides in its home market of Germany, securing 12 customers, including San Kliniken AG, one of the largest private hospital chains. The company is now setting its sights on international expansion, with plans to enter Spain, France, and the U.K. This expansion aligns with recommendations from tech giant SAP, which suggests Avelios as a transition partner for clients upgrading from legacy systems.
“He ran through hospitals and spent almost all of his time counting patients by hand and then reporting the results to authorities by hand,” – Avelios
The company's end-to-end system addresses all administrative needs in healthcare settings, simplifying processes for providers. Built with modern technology, Avelios's platform not only handles immediate administrative tasks but also facilitates long-term improvements through AI-enhanced data analysis.
“They tried. They did very promising AI research, and they tried to expand that research, but they quickly discovered, like a lot of other people, that with hospitals’ outdated systems, they couldn’t provide the data they would need to get their AI system to work.” – Avelios
“knowing it would be harder, knowing it would take us longer, but in full belief that this way, you can solve a lot of those root causes, and then in the second step, after having done that detour, be uniquely positioned to do all the fancy AI stuff on top, because you have structured data, you can integrate AI solutions.” – Avelios
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