Stockholm-based Tandem Health has raised €86.49 million, equivalent to about $100 million, in a Series B funding round led by the Scaleup Europe Fund managed by EQT.
Existing investors including Kinnevik, Northzone, Amino Collective and Visionaries also participated in the round.
The latest investment brings Tandem Health’s total funding to roughly €138.38 million, or around $160 million, as the company continues expanding its AI-powered clinical software across healthcare applications.
Tandem Health Expands Beyond Medical Documentation
Tandem Health initially developed AI-powered medical documentation software designed to reduce the amount of administrative work handled manually by healthcare professionals.
The company has since expanded its product offering into a wider range of clinical applications.
Its software can help prepare patient summaries before appointments, assist doctors during consultations and automate documentation and medical coding after visits.
These functions target one of the major administrative challenges facing healthcare systems: the significant amount of time doctors spend on paperwork and documentation instead of directly interacting with patients.
AI Targets Healthcare Administration
Medical documentation can require substantial amounts of time from doctors and other healthcare professionals.
By using artificial intelligence to assist with routine documentation and related administrative tasks, Tandem Health aims to reduce some of that workload while allowing clinicians to spend more time on patient-facing activities.
The company’s expansion also reflects the broader development of AI applications in healthcare, where technology is increasingly being used for administrative and workflow-related tasks.
Tandem Health Builds Nordic Clinical AI Business
The size of the Series B round and the participation of existing and new investors give Tandem Health additional resources to expand its technology and customer base.
The company is also benefiting from Sweden’s established digital health ecosystem, which has produced a number of technology companies focused on healthcare and digital services.
With total funding now reaching approximately $160 million, Tandem Health has substantial capital to continue developing its clinical AI software and expanding into additional healthcare workflows.
The latest investment places the Stockholm-based company among the growing number of European startups using artificial intelligence to address specific operational challenges within professional and healthcare services.
