Triomics, a startup that specializes in developing an AI-powered platform to assist oncologists and administrative staff in automating data-heavy tasks such as clinical trial matching and appointment preparation, has successfully secured $22 million in Series B funding. This latest funding round was spearheaded by Battery Ventures, with contributions from existing investors including Nexus Venture Partners, Lightspeed, Y Combinator, and others.

The healthcare industry is witnessing a positive trend in oncology breakthroughs that are prolonging the lives of patients. However, this progress has resulted in the accumulation of dense, multi-year medical records that require a significant amount of time for healthcare professionals to review and interpret. Triomics, co-founded by Sarim Khan, has encountered medical records containing thousands of pages of information, including physician progress notes, imaging and pathology reports, and scanned faxes.

Established in 2021, Triomics initially focused on aiding doctors in identifying suitable clinical trials for their patients. As the platform’s capabilities expanded, the startup raised $15 million in Series A funding in mid-2024. Over time, Triomics broadened its platform to include verifiable patient summaries, presenting essential information directly within the tools already utilized by clinicians without necessitating application switching.

By streamlining appointment preparation processes, these summaries afford oncologists more time to engage with their patients. This efficiency enhancement is crucial in oncology, where patient histories are intricate, and staff burnout is a prevalent issue. Tools that alleviate administrative burdens play a significant role in this field.

Moreover, Triomics is instrumental in automating the laborious task of submitting tumor reports to government registries, a mandatory practice for cancer centers. While standard AI agents excel in generating basic summaries, esteemed institutions like Memorial Sloan Kettering (MSK) and Yale Cancer Center opt for Triomics due to its specialized training on oncology data.

Triomics faces competition primarily from AI medical scribes such as Abridge and Microsoft’s Nuance, which leverage AI to transcribe and document patient-doctor interactions for chart summarization purposes. Despite this competitive landscape, Triomics is experiencing rapid growth, with a fourfold increase in its enterprise customer base and a tenfold rise in annualized recurring revenue over the past year.