Canary Speech Secures $13 Million in Series A Funding to Change How the World’s Top Healthcare Organizations Screen for Mental Wellness and Cognitive Health
Led by Cortes Capital, LLC, Sorenson Communications, LLC., SMK (Japan), and Hackensack Meridian Health, Series A funding expands the AI-driven capabilities of the groundbreaking vocal biomarker health tech company
PROVO, Utah, June 12, 2024 /PRNewswire/ — Canary Speech, Inc. (Canary), the leading AI-powered voice biomarker health tech company, has secured a $13 million Series A funding round led by Cortes Capital, LLC (Love’s Private Equity), with participation from Sorenson Communications, LLC., SMK (Japan), and Hackensack Meridian Health.
With robust patent positioning, Canary is at the forefront of the industry with nine issued patents protecting the use of vocal biomarkers in healthcare. Canary aims to expand its team to support the accelerating growth driven by advancements in artificial intelligence and the healthcare industry’s demand for more advanced tools.
As an API-first company, Canary’s vocal biomarker technology has a wide range of applications within the healthcare industry. These applications include contact centers, ambient clinical listening, remote patient monitoring, and annual wellness checks. Ambient listening tools, which are systems designed to unobtrusively capture and analyze conversations in real-time, enable healthcare providers to focus on patient interactions while automatically documenting clinical notes.
“There are technologies that truly disrupt the way healthcare is administered, and Canary is committed to pioneering vocal biomarkers and ambient listening for the betterment of healthcare,” said Henry O’Connell, co-founder and CEO of Canary Speech.
According to Healthcare IT Today, as many as 85 percent of physicians may adopt ambient listening tools. Canary’s vocal biomarker technology enhances these tools by adding real-time screening for behavioral and cognitive conditions, providing clinicians with critical additional data that was previously unavailable. Through an extensive network of partnerships, both with telehealth organizations and health systems, Canary is poised to rapidly scale its cloud-based data processing capabilities.
“We couldn’t be more excited to support Canary Speech’s mission to drive change in the healthcare industry with their scalable technology and best-in-class team,” said Ryan Tidwell, Chief Investment Officer at Cortes Capital.
The American Medical Association (AMA) reports that at the end of 2021, nearly 63 percent of physicians experienced symptoms of burnout, an increase from 38 percent in 2020. Through ambient listening, Canary can assess patients’ health and simultaneously evaluate physicians’ health, allowing healthcare systems to proactively support their care teams.
About Canary Speech
Canary Speech is the leading AI-powered voice biomarker health tech company that uses real-time patented vocal analysis to screen for mental health and neurological disorders. Canary’s vocal biomarker technology captures and analyzes speech data within seconds to identify irregularities in behavioral and cognitive changes before current clinical screening standards or noticeable symptoms for invisible illnesses like anxiety, depression and dementia. Canary Speech is a Utah-based company that advances speech and language applications for health systems, payers and pharmaceutical markets.
Press Contact:
Caitlyn Brooksby
caitlyn@canaryspeech.com
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SOURCE Canary Speech
