Caresyntax Valuation, Funding & Investors
Caresyntax is valued at $61M as of June 2018.
Last Caresyntax valuation
$61M
Series A · Jun 2018
Last Caresyntax funding round
$80M
Series C · Aug 2024
Cumulative funding Caresyntax raised
$288M
across 5 funding rounds
Key investors in Caresyntax
Plug and Play
PFM Health Sciences
Relyens
BlackRock
Optum Ventures
Mitsubishi
About Caresyntax
Caresyntax is a digital surgery platform analyzing video, audio, images, device data, and operational metrics from operating rooms using AI. Deployed in over 4,000 ORs worldwide supporting 30,000 surgeons and 2 million patients, it provides insights for performance benchmarking. Berlin-headquartered, Caresyntax aids hospitals, device makers, and insurers in resource optimization and risk assessment.
Founded
2013
HQ
Boston, MAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$61M (Jun 2018)
Caresyntax Valuation
Caresyntax is currently valued at $61M, based on its Series A in June 2018.
The $20M round was led by surgical.ai, with participation from Namier Capital Partners.
Caresyntax valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jun 2018 | Series A | $61M |
Caresyntax Funding History
Caresyntax has raised a total of $288M across 5 funding rounds.
Caresyntax's first fundraising round was a $12M Series A in September 2017. The most recent completed round was a $80M Series C in August 2024.
Caresyntax funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2024 | Series C | Plug and Play; MTIP AG; ProAssurance; Lauxera Capital Partners; PFM Health Sciences; Relyens; Eczacıbaşı Momentum; BlackRock; Pictet Alternative Advisors; Bioniq; Aescuvest; Optum Ventures | $80M | - | Caresyntax develops a vendor-neutral, AI-enabled precision surgery platform that optimizes operating room performance by capturing surgical data to improve efficiency, patient outcomes, and enable applications like insurance underwriting and medtech analysis. The platform is deployed in over 3,500 operating rooms worldwide, supporting more than 30,000 surgical professionals, with some healthcare organizations reporting 50% more surgeries per day post-adoption. It includes features like CDaaS for sharing OR data with medtech companies and integrates with technologies from partners like Intel. On August 15, 2024, Caresyntax raised $180 million in a Series C extension and growth debt facility, comprising $80 million in equity from investors including Aescuvest, Bioniq Capital, BlackRock Innovation Capital, Eczacıbaşı Momentum (via related funds), Lauxera Capital Partners, MTIP AG, Optum Ventures, PFM Health Sciences, Pictet Alternative Advisors, Plug and Play Growth Fund, ProAssurance Corp., and Relyens, plus up to $100 million in growth debt. This follows a $130 million Series C in 2021 (after an initial $100 million tranche) and a $45.6 million round in 2019, bringing total funding higher as the company prepares for a potential IPO in 18+ months. The funds will accelerate U.S. market entry, enhance the AI tech suite, scale customer adoption, pursue strategic acquisitions in surgical automation (building on 2023 U.S. deals), and expand internationally. The round occurred amid a tough fundraising environment, with Caresyntax citing strong traction including 75% year-over-year revenue growth and increased margins in H1 2024. Its EMEA business is EBITDA-positive, with sufficient capital to reach global breakeven; CFO noted unsolicited takeover interest from medtech strategics but emphasis on independence. Competitively, Caresyntax positions against companies like Intuitive Surgical (public comp trading at ~$475/share) by offering an interoperable, data-driven platform transforming ORs into 'data lakes' for smarter, safer procedures. Investors highlighted its growth across hospitals, medtechs, and insurers, with plans to integrate acquisitions and AI tools for precision surgery. |
| Sep 2021 | Series C | PFM Health Sciences (lead) | $130M | - | Caresyntax is an enterprise-level digital surgery platform that uses AI and proprietary software to analyze operating room data, delivering actionable insights to improve surgical outcomes, safety, and efficiency for providers and value-based care. The company announced a $30 million extension to its Series C funding round on September 16, 2021, led by PFM Health Sciences, bringing the total Series C to $130 million following an initial $100 million tranche in April 2021. Additional participants in the extension included funds managed by BlackRock, ProAssurance, Harmonix, and existing investors like the Relyens Group and IPF Partners, while the full round also featured Optum Ventures, Intel Capital, Lauxera Capital Partners, Vesalius Biocapital III, Arno Capital, Rezayat Investments, and Surgical.AI. The funds from the Series C were allocated to accelerate platform development, expand into new data solutions for value-based care, enhance AI analytics, grow the customer base among high-performing providers, and increase headcount. At the time, Caresyntax supported over 40,000 providers who reportedly improved their bottom line by up to 60 percent, while serving more than 2 million patients annually; earlier in 2021, it noted 250% growth in new contract value and support for over 30,000 surgeons. Caresyntax has continued raising capital post-2021, including a $180 million Series C extension and growth debt in 2024 comprising $80 million equity from investors like Symbiotic Capital, MTIP AG, BIONIQ Capital, and others, plus up to $100 million debt, which supported 75% revenue growth in H1 2024, M&A activity including US surgical data acquisitions, and expansion of AI tools for precision surgery in US and EMEA markets. Total funding raised exceeds $300 million across multiple rounds. |
| Dec 2019 | Series B | Barco Healthcare; Plug and Play; IPF Partners; Relyens; Mitsubishi; Whiz Partners | $46M | - | Caresyntax, a Boston-based pioneer in surgical automation, quality analytics, and AI, closed a $45.6 million financing round on December 17, 2019, from investors including Whiz Partners (Takeda-backed DDG Fund), Plug and Play, Barco Healthcare, Mitsubishi Corporation, Relyens, IPF Partners, and company founders. This brought total funding to $77.5 million following a prior $31.9 million raise in June 2018 led by Norgine Ventures and surgical.AI. The capital aimed to accelerate domestic and international growth, further develop and deploy surgical intelligence and automation technologies for medical device vendors, insurers, and health systems. The caresyntax platform integrates data from medical devices, electronic health records, and other OR sources into a unified platform to help manage surgical risk, improve workflow efficiency, reduce variability, and enhance clinical outcomes. At the time, its technologies were deployed in over 7,000 operating rooms worldwide, supporting surgical teams in more than 10 million procedures annually. The funding and acquisition positioned Caresyntax to deliver comprehensive insights across surgical, financial, and risk-management use cases. CEO Dennis Kogan highlighted Syus as a strategic fit, combining operational efficiency analytics with caresyntax's safety and interoperability platform. |
| Jun 2018 | Series A | surgical.ai (lead); Namier Capital Partners | $20M | $61M | Caresyntax is a surgical data, analytics, and automation company that aggregates structured and unstructured data from operating room devices, electronic health records, and other sources into a unified dashboard to inform clinical decisions, reduce documentation time, improve decision-making, and address surgical variations for better patient safety and workflows. In June 2018, it concluded its first funding round totaling $31.9 million, including $20 million equity from surgical.AI and up to €10 million ($11.9 million) debt-like financing from Norgine Ventures. Funds were allocated to U.S. expansion, developing machine learning and AI applications for its OR data integration platform, and enhancing surgical risk management. At the time, Caresyntax had significant traction with an installed base in over 6,000 operating rooms worldwide, supporting more than 10 million procedures annually and generating 100 petabytes of unique high-fidelity surgical data yearly, positioning it as the largest data marketplace in surgical services. The platform enables automation, risk reduction, and improved outcomes for surgeons, healthcare executives, hospitals, and ambulatory surgical centers. This 2018 raise laid the foundation for subsequent growth, followed by additional $45.6 million in fresh capital bringing the total to $77.5 million, and much later rounds including a $180 million Series C extension and growth debt in 2024, amid expansions in AI products, new markets like insurance and medtech, and acquisitions of U.S. surgical data assets. |
| Sep 2017 | Series A | Norgine Ventures (lead) | $12M | - | Caresyntax is a surgical analytics, integration, and automation company that provides hospitals and medical centers with a platform integrating data from surgical devices and electronic health records to manage risk, reduce surgical variability, automate workflows, and improve clinical outcomes. The company, founded in 2013 in Germany, established its North American headquarters in Boston in October 2017. Norgine Ventures invested $11.9 million (€10 million) in September 2017 to support product development, U.S. expansion, and hiring over 10 new employees by year-end. This formed part of Caresyntax's first funding round, which totaled $31.9 million by June 2018 with an additional $20 million from surgical.AI. |
Who has invested in Caresyntax?
19 investors have backed Caresyntax across its funding rounds, including Plug and Play, PFM Health Sciences, Relyens, BlackRock, Optum Ventures and Mitsubishi.
Lead investors include PFM Health Sciences, surgical.ai and Norgine Ventures.
Caresyntax Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 2 | Participant | Dec 2019 | |
| San Francisco, CA | 2 | Lead | Sep 2021 | |
 Lyon | 2 | Participant | Dec 2019 | |
 Kortrijk | 1 | Participant | Dec 2019 | |
 Basel | 1 | Participant | Aug 2024 | |
| United States | 1 | Participant | Aug 2024 | |
| Paris | 1 | Participant | Aug 2024 | |
 Luxembourg | 1 | Participant | Dec 2019 | |
 Istanbul | 1 | Participant | Aug 2024 | |
 London | 1 | Participant | Jun 2018 | |
| United States | 1 | Participant | Aug 2024 | |
 Tokyo | 1 | Participant | Dec 2019 | |
| Geneva | 1 | Participant | Aug 2024 | |
This data is available for Pro users. Sign up to see all 19 Caresyntax investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Caresyntax
Caresyntax has acquired 1 company to date.
Last acquisition by Caresyntax was on December 12th 2019. Caresyntax acquired Syus for undisclosed valuation.
Latest Acquisitions by Caresyntax
| Description | Syus is a provider of clinical data analytics software for hospitals and surgery centers. Its platform aggregates electronic health records and surgical data to generate risk scores and outcome benchmarks for procedures like joint replacements. Based in Boston, it processes data from over 200 facilities to support quality improvement initiatives. |
| HQ Country | |
| HQ City | Nashville, TN |
| Deal Date | 12 Dec 2019 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Caresyntax acquisitions and their M&A valuation multiples. Start Free Trial | |
Caresyntax Competitors
Caresyntax competitors include listed companies like Nano X Imaging and Data Horizon, and private ones like Intelligent Haptronic Solutions, DocBuddy, Limbic and Mooh Tech Desenvolvimento de Softwares.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Vancouver | Private | - | - | $61M | - | |
| United States | Publicly listed | $13M | ($67M) | $62M | 2.1x | |
| United States | Private | - | - | $62M | - | |
| London | Private | - | - | $62M | - | |
 São Paulo | Private | - | - | $60M | - | |
| Japan | Publicly listed | $33M | $4M | $57M | - |
Caresyntax Public Comps
Caresyntax is still privately-owned, but its public comps include Nano X Imaging, Data Horizon, DocCheck, ezCaretech, Health In Tech, EUDA Health, Research Solutions, MeVis, SMAIO and SOFTMAX.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $13M | ($67M) | 2.9x | 2.1x | (0.6x) | - | |||
| $33M | $4M | 2.1x | - | 15.7x | - | |||
| $64M | $12M | 0.8x | - | 4.0x | - | |||
| $57M | $5M | 1.1x | - | 13.0x | - | |||
| $33M | $2M | 1.4x | 1.2x | 21.6x | (17.6x) | |||
| $7M | ($2M) | 8.0x | 5.9x | (26.0x) | - | |||
| $48M | $4M | 1.2x | 1.2x | 13.8x | 9.8x | |||
| $18M | $4M | 2.4x | - | 11.6x | - | |||
This data is available for Pro users. Sign up to see all Caresyntax competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Caresyntax
| When was Caresyntax founded? | Caresyntax was founded in 2013. |
| Where is Caresyntax headquartered? | Caresyntax is headquartered in Boston, MA, United States. |
| Is Caresyntax publicly listed? | No, Caresyntax is a private, VC-backed company. |
| What is Caresyntax's valuation? | Caresyntax was last valued at $61M in its Series A in June 2018. |
| How much funding has Caresyntax raised? | Caresyntax has raised $288M across 5 funding rounds. |
| What was Caresyntax's last funding round? | Caresyntax's last funding round was a $80M Series C in August 2024. |
| Who are Caresyntax's investors? | Caresyntax's investors include Plug and Play, PFM Health Sciences, Relyens, Barco Healthcare, MTIP AG, ProAssurance, Lauxera Capital Partners, IPF Partners, Eczacıbaşı Momentum, Namier Capital Partners and 9 others. |
| Which companies are comparable to Caresyntax? | Companies comparable to Caresyntax include Intelligent Haptronic Solutions, Nano X Imaging, DocBuddy, Limbic, Mooh Tech Desenvolvimento de Softwares and Data Horizon. |
| How many companies has Caresyntax acquired? | Caresyntax has acquired 1 company, including Syus. |
See companies similar to Caresyntax
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.