- Companies
- Suki
Suki Revenue, Valuation, Funding & Investors
Suki is valued at $500M as of October 2024.
Last Suki valuation
$500M
Series D · Oct 2024
Last Suki funding round
$70M
Series D · Oct 2024
Suki revenue
$105M
Series C · Dec 2021
Key investors in Suki
Venrock
First Round Capital
Breyer Capital
Flare Capital Partners
March Capital
InHealth Ventures
About Suki
Suki is a Redwood City-based company delivering AI voice technology for healthcare documentation. Its flagship Suki Assistant allows clinicians to dictate notes, complete charts, and manage administrative workflows hands-free. The platform integrates with electronic health record systems like Epic and Cerner, and offers APIs for partners to embed voice features in their applications.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$105M (Dec 2021)
Valuation
$500M (Oct 2024)
Suki Valuation
Suki is currently valued at $500M, based on its Series D in October 2024.
The $70M round was led by Hedosophia, with participation from Breyer Capital, InHealth Ventures, March Capital, Flare Capital Partners and Venrock.
Suki's valuation has grown 28x from $18M at its seed round in March 2016 to $500M in October 2024, across 3 priced rounds.
Suki valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Oct 2024 | Series D | $500M | - |
| Dec 2021 | Series C | $400M | 3.8x |
| Mar 2016 | Seed | $18M | - |
Suki Revenue
Suki's latest recorded revenue is $105M, as of its Series C in December 2021. At a $400M valuation, that implies a 3.8x revenue multiple.
Suki revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Dec 2021 | $105M | $400M | 3.8x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Suki Funding History
Suki has raised a total of $165M across 5 funding rounds.
Suki's first fundraising round was a $5M seed round in March 2016. The most recent completed round was a $70M Series D in October 2024.
Suki funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2024 | Series D | Hedosophia (lead); Breyer Capital; InHealth Ventures; March Capital; Flare Capital Partners; Venrock | $70M | $500M | Suki is a Redwood City, CA-based healthcare AI startup founded in 2017 by Punit Soni, developing AI-powered voice assistants like Suki Assistant and Suki Platform to automate clinical documentation, notetaking, coding, and administrative tasks for physicians, integrating with EHR systems such as Epic, Cerner, Athenahealth, and MEDITECH. The company raised $70 million in its Series D funding round in October 2024, led by Hedosophia, with participation from Venrock, March Capital, Flare Capital Partners, Breyer Capital, and InHealth Ventures, bringing total funding to $165 million. Sources indicate a post-money valuation of approximately $500 million, though one reports $400 million. The funds will accelerate product development, enhance AI features, build tools for managing multiple AI models, expand offerings to areas like nursing and healthcare staffing, and support infrastructure for growing partnerships with over a dozen healthcare systems and 300 health system and clinic clients. Suki has experienced rapid growth, tripling in size recently, with high Net Promoter Scores and strong customer satisfaction driving adoption amid generative AI advancements. Suki competes with Microsoft-owned Nuance's Dragon Medical One and startups like Abridge, which raised $150 million at $850 million valuation. The company positions itself through continuous deployments, user feedback, and partnerships with major healthcare names, aiming to reduce administrative burdens and bring joy back to medicine by enabling focus on patient care. |
| Dec 2021 | Series C | March Capital (lead); Breyer Capital; InHealth Ventures; Flare Capital Partners; Venrock; Russell Farscht; Philips Venture Capital Fund; Andrew Deutsch; Gaingels; Pankaj Patel | $55M | $400M | Suki is a voice-enabled clinical AI assistant for healthcare professionals that uses natural language processing and machine learning to automate medical documentation and administrative tasks. The platform generates medical notes, handles ICD-10 coding, and integrates with electronic health records systems to reduce physician burnout from paperwork and administrative burden. The company's proprietary Suki Speech Service provides voice capabilities that can be licensed to other healthcare technology partners. In December 2021, Suki closed a Series C funding round of $55 million led by growth equity firm March Capital, with participation from Philips Ventures and previous investors including Venrock, Flare Capital, Breyer Capital, and inHealth Ventures. The round also included angel investors such as the Gaingels Group, Pankaj Patel (former Chief Development Officer of Cisco), Andrew Deutsch (CEO of RIMA Radiology), and Russell Farscht (former Managing Director of The Carlyle Group). The Series C funding brought Suki's post-money valuation to $400 million. The company demonstrated strong growth trajectory prior to the round, quadrupling its revenue in the year leading up to the December 2021 funding announcement, though the absolute revenue figures were not disclosed. Suki planned to use the capital for strategic investments to expand partnerships with health systems and medical groups, grow its employee base, and enhance the AI capabilities of its Suki Assistant product and Suki Speech Platform. The company was also expanding beyond clinical documentation into broader administrative functions, refining its coding accuracy and introducing new features including dynamic EHR data integration and a Windows application to extend platform reach. |
| Mar 2020 | Series B | Flare Capital Partners (lead); Breyer Capital; First Round Capital; Venrock; Epsilon Health | $20M | - | Suki is an AI-powered voice assistant platform for healthcare professionals, designed to automate clinical documentation and reduce administrative burdens for physicians. The company raised $20 million in its Series B funding round in March 2020, led by Flare Capital Partners, with participation from investors including Breyer Capital, Epsilon Health, First Round Capital, and Venrock. This followed a $15 million Series A in May 2018 led by Venrock. The funding was intended to enhance product features, increase market penetration, and scale the platform. Suki operates on a B2B SaaS model with subscription pricing for its AI scribe tools, targeting healthcare providers, medical groups, and clinics, often priced in the low hundreds per user per month for small practices with enterprise discounts. The platform emphasizes ROI through metrics like 76% faster note completion and improved claim denial rates. Subsequent rounds include a $55 million Series C in December 2021 led by March Capital and a $70 million Series D in October 2024 led by Hedosophia, bringing total funding to approximately $165-168 million. |
| May 2018 | Series A | Venrock (lead); First Round Capital; Social Capital; Marc Benioff; Nat Turner | $15M | - | Suki is an AI-powered voice-enabled digital assistant designed to reduce administrative burden on physicians by automating medical documentation and capturing clinical information. Founded in 2017 by Punit Soni (former CPO of Flipkart) and Karthik Rajan (former VP at Salesforce), the company develops healthcare software that captures doctor-patient conversations and converts them into actionable clinical plans while retrieving relevant patient data like imaging files. In May 2018, Suki raised $15 million in Series A funding led by Venrock, with participation from First Round Capital, Social Capital, Nat Turner (founder of Flatiron Health), Salesforce CEO Marc Benioff, Google employees, and other angel investors. The funding brought total capital raised to approximately $20 million, following a prior seed round of $5 million led by Venrock. The Series A capital was designated to scale the platform, expand the team, and grow the user base through partnerships with health systems and medical groups. At the time of the Series A round, Suki had deployed 12 pilot projects across internal medicine, ophthalmology, orthopedics, and plastic surgery practices in California and Georgia, demonstrating early traction in multi-specialty healthcare environments. The company positioned itself as building an invisible yet essential healthcare software layer designed specifically for physician workflows. |
| Mar 2016 | Seed | First Round Capital (lead); Venrock (lead); Bradley Horowitz | $5M | $18M | Suki is an AI-powered voice assistant for clinical documentation that helps healthcare providers automate administrative tasks and medical record-keeping. Founded in 2016, the company was led by former Google and Flipkart executive Punit Soni. Suki raised $3.83 million in its Series Seed round in March 2016, led by First Round Capital and Venrock, with participation from investor Bradley Horowitz, at a post-money valuation of $18.34 million. The company's early funding was designed to develop its initial AI-driven healthcare documentation platform. Suki has since grown significantly, integrating with major EHR systems including Epic and Oracle's Cerner, and establishing partnerships with major technology platforms to expand its AI capabilities across healthcare workflows. |
Who has invested in Suki?
17 investors have backed Suki across its funding rounds, including Venrock, First Round Capital, Breyer Capital, Flare Capital Partners, March Capital and InHealth Ventures.
Lead investors include Hedosophia, March Capital, Flare Capital Partners, Venrock and First Round Capital.
Suki Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Mar 2016 | ||
| 3 | Participant | Mar 2020 | ||
| 3 | Lead | Mar 2016 | ||
| 3 | Lead | Mar 2020 | ||
| 2 | Participant | Dec 2021 | ||
| 2 | Lead | Dec 2021 | ||
| 1 | Participant | Mar 2016 | ||
| 1 | Participant | May 2018 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Mar 2020 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Lead | Oct 2024 | ||
| 1 | Participant | Dec 2021 | ||
This data is available for Pro users. Sign up to see all 17 Suki investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialSuki Competitors
Suki competitors include listed companies like Yidu Tech and Claritev, and private ones like Plenful, Rad AI, Heidi Health and Qventus.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $487M | - | ||
| Private | - | - | $525M | - | ||
| Private | $15M | - | $465M | 31.0x | ||
| Private | - | - | $400M | - | ||
| Publicly listed | $122M | ($4M) | $449M | 1.2x | ||
| Publicly listed | $965M | $466M | $538M | 5.2x |
Suki Public Comps
Suki is still privately-owned, but its public comps include Beijing Hanyi Innovation, Guiyang Longmaster, GPI Group, Intelligo Technology, Veradigm, Claritev, Equasens, Medley Inc., Heren Health and Shang Gong Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $28M | $5M | 15.6x | 13.9x | 89.9x | 50.9x | |||
| $44M | $5M | 10.0x | - | 87.9x | - | |||
| $628M | $117M | 1.4x | 1.4x | 7.3x | 6.5x | |||
| $50M | $20M | 8.4x | 8.4x | 20.8x | - | |||
| $588M | $54M | 0.9x | 0.9x | 9.8x | 6.8x | |||
| $965M | $466M | 5.4x | 5.2x | 11.2x | 8.5x | |||
| $272M | $75M | 1.9x | 1.8x | 7.0x | 6.7x | |||
| $236M | $32M | 2.1x | 1.8x | 15.7x | 13.2x | |||
This data is available for Pro users. Sign up to see all Suki competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Suki
| When was Suki founded? | Suki was founded in 2016. |
| Where is Suki headquartered? | Suki is headquartered in San Francisco, CA, United States. |
| Is Suki publicly listed? | No, Suki is a private, VC-backed company. |
| What is Suki's valuation? | Suki was last valued at $500M in its Series D in October 2024. |
| How much funding has Suki raised? | Suki has raised $165M across 5 funding rounds. |
| What was Suki's last funding round? | Suki's last funding round was a $70M Series D in October 2024, led by Hedosophia. |
| Who are Suki's investors? | Suki's investors include Venrock, Breyer Capital, First Round Capital, Flare Capital Partners, InHealth Ventures, March Capital, Bradley Horowitz, Social Capital, Russell Farscht, Epsilon Health and 7 others. |
| What is Suki's revenue? | Suki's latest recorded revenue is $105M (December 2021). |
| What is Suki's revenue multiple? | Suki's latest valuation implies a 3.8x revenue multiple ($400M valuation on $105M of revenue). |
| Which companies are comparable to Suki? | Companies comparable to Suki include Plenful, Rad AI, Heidi Health, Qventus, Yidu Tech and Claritev. |
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