The healthcare system became a strategic investor in the Boston-based company and will utilize Laudio to enhance worker efficiency and engagement.
Healthcare management platform Laudio announced that Houston-based Memorial Hermann Health System has joined its Series B funding round as a strategic investor and will implement its administrative workflows to drive employee efficiency and engagement.
Laudio’s AI-enabled platform provides healthcare management personnel with recommendations on engaging with their team to reduce burnout and employee turnover. It also automates repetitive work.
The nonprofit health system also became a strategic investor in the company, joining Laudio’s $13 million Series B raise.
“We are always looking for new ways to further engage our employees and make them feel better supported. The unique challenges of recent years have only heightened the need for innovation in this area,” Dr. Feby Abraham, executive vice president and chief strategy officer for Memorial Hermann, said in a statement. “This technology aligns with our focus on utilizing cutting-edge digital tools to support system-wide improvements.”
THE LARGER TREND
In 2019, Laudio raised $7.3 million in Series A funding to expand its platform.
Two years later, the company announced that Tufts Medical Center, Novant Health and UNC Health would utilize its offerings in their healthcare systems.
In July, the management platform announced partnerships with health systems Northwell Health, New York’s largest healthcare provider and private employer, and Nebraska Medicine, which consists of two hospitals, Nebraska Medical Center and Bellevue Medical Center, as well as 70 specialty and primary care clinics.
Another company that provides a care-management platform for care professionals is Canada-based Practice Better, a platform for health and wellness practitioners. The company scored a $27 million growth investment in April.
