Melbourne-based Lyrebird Health, a medical scribe that generates clinical documentation from patient-doctor conversations, has raised $12 million to further develop its technology and drive a planned expansion into the UK and Middle East.
The latest round, which was led by Five V Capital and UK-based Octopus Ventures, follows rapid adoption of the technology by healthcare professionals in Australia where Lyrebird currently powers documentation for 30,000 consultations per day.
Lyrebird reveals that in May it recorded more than 600,000 consults with the number growing at a rate of more than 10 per cent each month.
Both Five V Capital and Octopus Ventures are new investors in Lyrebird Health, while earlier investor Startmate also participated in the latest round.
"AI companies are hitting $1 million, $5 million, $10 million and beyond in revenue faster than ever, but Lyrebird stands out for how they've done it," says Chris Gillings, partner at Five V Capital, who will join Lyrebird's board.
"They've built a product doctors genuinely love, scaled quickly with minimal capital, and developed a go-to-market strategy that compounds without burning cash."
Five V Capital is a growth-focused private equity and venture capital firm with a strong healthcare investment track record, while Octopus Ventures manages more than £1.2 billion ($2.5 billion) in assets.
"We were impressed by the phenomenal traction Lyrebird has achieved in Australia and by how quickly they've seen demand in international markets," says Uthish Ranjan, partner at Octopus Ventures.
"Their early success in the UK gives us strong conviction that they're well-positioned to scale in our local market."
Lyrbird says the latest investment round will help drive the startup’s vision to improve patient care while addressing “critical healthcare workforce challenges”.
The company was founded in 2023 by Kai Van Lieshout and Linus Talacko after Van Lieshout had to wait 12 months to see a specialist for a chronic health condition.
Van Lieshout, the Lyrebird Health CEO, says he realised that giving doctors more time back in their day could allow them to see more patients and shorten waiting times for those patients.
"Our vision is global, but our mission is personal: support the people who care for people," he says. "Lyrebird is built in close partnership with clinicians, and that will never change.”
Lyrebird notes that the healthcare system in Australia is facing “unprecedented strain”, with 65 per cent of physicians reporting burnout symptoms directly linked to administrative overload.
More than 30 per cent of doctors are considering early retirement in the next five years, and average patient waitlists extend beyond 32 days for routine care.
"The average clinician spends more than two hours daily on documentation instead of patient care," says Van Lieshout.
"This administrative burden is driving talented healthcare professionals from the field at precisely the moment we need them most."
Lyrebird's platform automatically generates clinical documentation from patient-doctor conversations. Built specifically for healthcare needs, all data is processed and stored in Australia and integrates seamlessly with existing EMR (electronic medical record) systems such as Best Practice and Gentu.
The startup says that, among its clients, Gold Coast Hospital and Health Service reported a 22 per cent increase in patient throughput after implementing Lyrebird across its outpatient clinics.
Alder Hey Children's Hospital also has indicated that specialists using Lyrebird could increase patient consultations by 15 per cent while reducing after-hours documentation time by 78 per cent.
The company says that research from Gold Coast Hospital shows that 84 per cent of staff reported the technology had a positive impact on their efficiency, with 79 per cent feeling it improved consultation quality through increased focus on patients.
"When we started using Lyrebird, our clinicians initially thought it was too good to be true," says Dr James Wilson, clinical director at Gold Coast Hospital and Health Service.
"Now they can't imagine practicing without it. The time savings translate directly to more patients receiving care."
Lyrebird Health plans to use the capital raised for product enhancement as well as “deeper EMR integration” with other systems.
The startup is also eying international expansion, kicking off with the UK and the Middle East, while establishing new partnerships globally.
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