Triomics nabs $22M to bring oncology-specific AI to cancer centers

Triomics, an innovative startup dedicated to developing an AI-driven platform for oncologists and administrative staff, has successfully raised $22 million in a Series B funding round. Spearheaded by Battery Ventures, this funding round also saw contributions from established investors such as Nexus Venture Partners, Lightspeed, and Y Combinator. As advancements in oncology continue to prolong patient lives, the result is an influx of extensive, multi-year medical records that pose challenges for healthcare professionals. Typical medical charts are often laden with physician notes, imaging results, pathology reports, and even old faxes. "We have encountered medical records containing thousands of pages of information," stated Sarim Khan, co-founder of Triomics, in an interview with TechCrunch. Established in 2021, Triomics initially focused on helping physicians find the most appropriate clinical trials for their patients and successfully raised $15 million in a Series A funding round mid-2024. However, as the capabilities of large language models (LLMs) evolved, the startup expanded its platform to include verifiable patient summaries, which present crucial information directly within the tools that clinicians already utilize, eliminating the need for switching applications. This efficiency not only streamlines appointment preparations but also allows oncologists to dedicate more time to their patients. In the field of oncology, where patient histories are particularly intricate and staff burnout is a significant issue, tools that alleviate administrative burdens can have a substantial impact. Triomics also automates the laborious process of submitting tumor reports to government registries, a legal requirement for cancer treatment centers. While general AI solutions can provide basic summaries, renowned institutions such as Memorial Sloan Kettering and Yale Cancer Center prefer Triomics due to its models being specifically trained on oncology data. Despite the competitive landscape, which includes AI medical scribes like Abridge and Microsoft’s Nuance that document patient-doctor discussions, Triomics is experiencing rapid growth. Khan noted that the startup's enterprise customer base has quadrupled in the last year, resulting in a remarkable tenfold increase in annual recurring revenue.