OneChart secures new investment from Ripple Ventures to support expansion

This article was originally written by Eileen Hoftyzer for McMaster University on July 31, 2024. Read the original article here.

Software start-up company OneChart, led by alumni of McMaster University’s Residency @ The Clinic incubator program, has secured funding from venture capital firm Ripple Ventures to support expansion, its second milestone investment in a year.

OneChart, formerly known as medX Insight and clinicassist.ai, is a medical charting software company co-founded by McMaster students Shreyas Suri and Max Chan, and their business partners Kevin Ouyang and Adil Mohammed.

The OneChart platform captures the conversation between healthcare providers and patients during medical appointments, then uses artificial intelligence (AI) to convert context from the discussion into a secure and encrypted structured medical note that can be added to the patient’s electronic medical record. It also automates related processes such as suggested billing and identifying key insights and trends.

“We’re very excited to have Ripple Ventures join us as a new partner,” says Suri, CEO of OneChart. “This investment allows us to keep growing and build out new functionalities that will enable us to better service clinics and organizations with bigger teams.”

Earlier this year, OneChart received funding from Launch.co, a leading Silicon Valley investment firm that has previously backed companies such as Uber and Robinhood. That investment allowed them to expand the company and begin scaling up to meet demand from service providers across Canada and the United States.

After completing incubator programs at The Forge and the Residency @ The Clinic, the OneChart team participated in Ripple’s Founder Fellowship program, a six-month intensive program for student founders that provides coaching, networks and funding opportunities. Following the fellowship program, the OneChart team was successful in acquiring investment from Ripple Ventures.

As specialists in supporting business to business (B2B) software solutions, Ripple Ventures is a natural partner for OneChart.

“Their specific thesis and focus on B2B software and enterprise have been extremely helpful for our company and product use case,” says Suri. “The entire Ripple team has been able to give us tailored support and guidance from day one to help us grow.”

Suri and the rest of the OneChart team are looking forward to servicing growing customers and expanding in new verticals.

“We’re excited to be seeing the impact of our technology in the hands of customers, and this new capital will let us double-down on growing with clinics and servicing larger health organizations and institutions,” he says.

For more information about OneChart and their platform, please visit OneChart.ai