Machine Reading Company Causaly Identifies Connections Hidden in Millions of Biomedical Publications - Raises $5m in Series A Round Led by Pentech
Causaly, the AI company teaching computers to read, understand and interpret biomedical knowledge, is pleased to announce its series A fundraising round, which saw new and existing investors commit $4.8m into the company. Pentech Ventures led the round together with EBRD Venture Capital, with participation from existing investors Marathon Venture Capital.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191120005094/en/
Causaly quickly interprets and visualises cause-and-effect relationships hidden in millions of biomedical articles. (Photo: Causaly)
100,000 biomedical articles are added each month to the over 30 million already published – which makes it time-consuming and inefficient to try to decipher key relationships, and emerging discoveries can easily be missed. Causaly’s natural language processing AI is reading and understanding biomedical literature similarly to how humans do – only Causaly has read everything ever written in biomedicine and can visualise relevant relationships within seconds. Important decisions can quickly be supported by all available evidence, where previously literature reviews could take weeks or even months.
Causaly is working with several pharma and biotech companies, including Novartis, as well as with hospitals and academia. The platform is used by R&D and commercial functions to enable faster, higher quality and more transparent decision-making based on evidence, e.g., in Drug Discovery, Drug Safety, Clinical Trials, Epidemiology and HEOR.
“At Causaly our aim is to help researchers, doctors and decision-makers find the pivotal insights that are hidden in millions of biomedical documents. We believe that Causaly can transform how people find, visualise and interpret knowledge, and contribute to solving the most difficult and systemic problems in human health”, explained Yiannis Kiachopoulos, Causaly’s co-founder & CEO. Artur Saudabayev, co-founder & CTO, added: “We have assembled a stellar team of engineers who tackles a number of unsolved problems in Natural Language Understanding including the goal of reaching and in certain aspects surpassing human reading performance for linguistic causality comprehension. This investment will help us to substantially grow our technology development and customer success teams.”
Marc Moens, partner at Pentech, said: “We believe that Causaly is building a unique product whose ability to interpret unprecedented amounts of complex information and accelerate time-to-insight can create tremendous value in the biomedical field and beyond. We are very excited about their growth potential moving forward.”
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