Triomics Secures $22M to Revolutionize Oncology with AI-Powered Solutions
Triomics, an innovative startup specializing in artificial intelligence (AI) solutions for oncology, has successfully raised $22 million in a Series B funding round. This investment was spearheaded by Battery Ventures, with continued support from existing investors such as Nexus Venture Partners, Lightspeed, and Y Combinator.
Established in 2021, Triomics has developed an AI-driven platform designed to assist oncologists and administrative personnel by automating labor-intensive tasks, including clinical trial matching and appointment preparation. The company’s mission is to streamline oncology workflows, thereby enhancing patient care and operational efficiency.
The landscape of oncology has seen remarkable advancements, leading to increased patient survival rates. However, this positive trend has resulted in the accumulation of extensive, multi-year medical records that are both time-consuming and complex for healthcare professionals to navigate. These records typically encompass physician progress notes, imaging and pathology reports, and even scanned faxes. We have encountered medical records containing thousands of pages of information, noted Sarim Khan, co-founder of Triomics.
In mid-2024, Triomics secured $15 million in Series A funding, which facilitated the initial development of their platform focused on identifying suitable clinical trials for patients. As large language model (LLM) capabilities advanced, the company expanded its offerings to include verifiable patient summaries. These summaries extract and present critical information within the existing tools used by clinicians, eliminating the need to switch between applications.
By reducing the time required for appointment preparation, these AI-generated summaries allow oncologists to devote more time to direct patient care. This efficiency is particularly significant in oncology, where complex patient histories and the risk of staff burnout are prevalent challenges.
Additionally, Triomics’ platform automates the submission of tumor reports to government registries, a mandatory process for cancer centers. This automation alleviates the administrative burden on healthcare staff, enabling them to focus more on patient-centered tasks.
Unlike generic AI agents that provide basic summaries, Triomics’ models are specifically trained on oncology data. This specialization has attracted prominent institutions such as Memorial Sloan Kettering and Yale Cancer Center, which utilize Triomics’ platform for its tailored capabilities.
While AI medical scribe tools like Abridge and Microsoft’s Nuance offer similar functionalities in summarizing patient charts, Triomics distinguishes itself through its oncology-specific focus. This specialization has contributed to the company’s rapid growth, with a fourfold increase in enterprise customers over the past year and a tenfold rise in annualized recurring revenue.
The recent $22 million funding will enable Triomics to further enhance its AI platform, expand its reach to more cancer centers, and continue its mission of transforming oncology care through innovative technology.
