Kontakt.io Raises $47.5 Million Series C Funding from Goldman Sachs to Fuel AI Development and Expansion into US Hospitals

The investment will fuel global growth and advancement of its AI-driven IoT platform to optimize hospital operations and resources outside the clinical domain.

NEW YORK, April 16, 2024 /PRNewswire-PRWeb/ -- Kontakt.io, the leading provider of Inpatient Journey Analytics, today announced a Series C investment of $47.5 million, led by Growth Equity at Goldman Sachs Asset Management (Goldman Sachs). The capital will support the company's growth and expansion of Artificial Intelligence (AI) solutions.

Kontakt.io enables health systems to optimize patient, staff, and resource flows, improving safety, coordination, and service delivery. The company uses AI, the Internet of Things (IoT), and cloud technology to provide real-time location data and orchestrate staff, equipment, and clinical spaces around a patient's care journey. By integrating these technologies seamlessly into hospital workflows, Kontakt.io is ushering in a new era of operational excellence in clinical care delivery.

Using Kontakt.io's platform, customers such as HCA, the VA, Mercy Health, North East Georgia Health System, Trinity Health, and the NHS have seen major improvements in patient and employee experiences and fast ROI from operational efficiency.

With increasing complexity, cost burdens, and employee attrition rates, operational excellence has become a top priority for hospitals. Failures in hospital care delivery accounted for approximately $300 billion, or nearly $300,000 per licensed bed, in annual waste in the US.

Growth Equity at Goldman Sachs Asset Management is dedicated to investing in high-growth businesses with strong market positioning and durable business models. Christian Resch, partner at Goldman Sachs, will join Kontakt.io's Board of Directors to advise on the company's next stage of growth.

"Clinical staff, the key asset of health systems, must be freed to focus on their single most important job: providing patient care," commented Philipp von Gilsa, CEO of Kontakt.io. "Our partnership with Goldman Sachs will help Kontakt.io further expand into AI to orchestrate care delivery resources and processes, putting staff and patients back at the center of care."

Christian Resch, Partner in Growth Equity at Goldman Sachs Asset Management, said, "Kontakt.io creates exceptional value for its clients by addressing two of healthcare's current great challenges: Reducing costs and freeing up time of nurses, doctors and other hospital staff. Philipp von Gilsa and his team have built a world-class solution and demonstrated their ability to serve some of the world's most demanding customers year after year. We see enormous potential in Kontakt.io and are thrilled to help further accelerate Kontakt.io's expansion and enhance its product offerings."

About Kontakt.io

As the leader in Indoor Journey Analytics, Kontakt.io optimizes processes and resources by revealing how people move through the indoor space. Using AI, IoT, and RTLS, Kontakt.io helps health systems uncover waste, streamline capacity, improve workflows, and help patients and staff feel seen and valued. Since 2013, Kontakt.io has provided solutions to +32,000 end users across multiple verticals, and deployed 4+ million IoT devices in the field. To learn more, visit www.kontakt.io.

About Growth Equity at Goldman Sachs Asset Management

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $450 billion in assets and more than 30 years of experience.

The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals.

Goldman Sachs has over $2.8 trillion in assets under supervision globally as of December 31, 2023. Since 2003, Growth Equity at Goldman Sachs Asset Management has invested over $13 billion in companies led by visionary founders and CEOs. The team focuses on investments in growth stage and technology-driven companies spanning multiple industries, including enterprise technology, financial technology, consumer and healthcare. Follow us on LinkedIn.

Media Contact

Olivia Wang, Kontakt.io, 1 6088868698, [email protected], Kontakt.io

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SOURCE Kontakt.io