Chicago-based smart hospital platform Artisight has raised $42m in an oversubscribed series B funding round.

The platform uses artificial intelligence (AI) to provide virtual care, quality improvement and care coordination. Multiple new investors participated in the round, as well as full participation from series A investors, including chip maker Nvidia.

The platform, which was developed by clinicians for clinicians, marries IoT sensors with deep learning and open integration standards to streamline safe patient care, including virtual nursing. Hipaa-compliant capabilities include computer vision, voice recognition, vital sign monitoring, indoor positioning capabilities and actionable analytics reports. Leveraging these seamlessly integrated capabilities reduces clinicians’ documentation and coordination burden, increases their time for direct patient care, reduces administrative costs, and supports better patient outcomes and satisfaction.

“Our series B round, which was oversubscribed by 2.4 times, provides further validation of the results we have delivered for over 100 hospitals, evidenced by the fact that many of them are also investors,” said Artisight co-founder and CEO Andrew Gostine. “With nearly 200 more hospitals undergoing implementation, it was clear we needed to grow to support our emerging client base. Healthcare is in the midst of a staffing, satisfaction and financial crisis. Our novel yet widely adopted approach to helping alleviate these problems has made Artisight the most validated all-in-one platform supporting remote nursing, ambient intelligence and real-time health system applications.”

Providers implementing Artisight’s technology are seeing measurable results in the form of superior quality metrics and improved financial outcomes. For example, client Northwestern Medicine, a hospital with more than 4000 practicing physicians and twice as many nurses, reports a 52% reduction in nursing overtime, 89% reduction in falls, 76% reduction in nursing turnover, and record-high nursing and patient satisfaction scores.

“This success is a testament to our team and health system partners, but the real praise and our gratitude go to the nurses, physicians and hospital staff who have modernised clinical care through Artisight’s platform,” Gostine said. “We have learned immensely from them as we rolled out virtual nursing with AI co-pilots across the country and look forward to the publication of these results in the peer-reviewed literature.”

The company spends 64% of its resources on the development of capabilities to solve existing and emerging problems. The funding will catalyse another doubling of headcount to keep up with demand for the Artisight (artisight.com) platform.

“Through the support of our investors and clients, Artisight will continue to lead the AI-enabled clinical transformation that will deliver exponentially greater improvements for health systems,” Gostine said. “We are just scratching the surface of what is possible with ambient intelligence; the best is yet to come.”