Docbot Closes Series A Financing Led by Khosla Ventures and Appoints Andrew J. Ritter as CEO
- Total capital raised is $8.5M after $4M Series A led by Khosla Ventures, joined by Bold Capital Partners, Collaborative Fund and Boutique Venture Partners
- Andrew J. Ritter appointed as CEO
- Docbot’s UltivisionAI™ software platform uses artificial intelligence for automated gastrointestinal (GI) disease detection
May 24, 2021 08:00 AM Eastern Daylight Time
Docbot, Inc., an artificial intelligence (AI) technology company focusing on gastrointestinal (GI) disease, announced today the closing of a Series A round. In conjunction with the financing, the company has appointed Andrew J. Ritter as CEO after he led the sale of Ritter Pharmaceuticals (NASDAQ:RTTR) in 2020. Andrew has over 16 years of experience in GI disease and earned an MBA from the Wharton School at the University of Pennsylvania.
Docbot’s founding CEO, Andrew Ninh, continues as Chief Strategic Officer and will lead business development, strategic partnerships and innovation.
The Company closed a $4M Series A led by Khosla Ventures, with participation by Bold Capital Partners, Collaborative Fund and Boutique Venture Partners, bringing the total amount raised to $8.5 million since inception.
Docbot’s investigational device, UltivisionAI, uses artificial intelligence for automated GI disease detection. The new capital will be used to advance clinical trials and seek FDA clearance.
“We invest in companies that use technology to improve human life,” said Alex Morgan, M.D., Ph.D., Partner at Khosla Ventures. “Docbot uses AI to augment human abilities, improving diagnosis, detection and treatment of GI diseases. In the future, if you are getting a procedure like a colonoscopy done, your colonoscopist will be aided by an AI system ensuring you get the best result possible. You won't want to have one done without it."
“I look forward to using UltivisionAI in my regular practice,” said Willilam Karnes, M.D., Chief Medical Officer at Docbot and Clinical Professor of Medicine, University of California Irvine. “Docbot’s real-time analysis of colonoscopy images has the potential to become standard of care.”
“We’re excited to partner with these top-tier investors,” said Andrew J. Ritter, CEO at Docbot. “With new funding we will expand our team and advance our technology platform, while growing clinical evidence for the value of UltivisionAI.”
About Docbot
Docbot, Inc. is an artificial intelligence technology company focusing on gastrointestinal (GI) disease. Docbot’s products are built on the UltivisionAI software platform for real-time image analysis, automated reporting, and analytic tools to improve patient care and clinical workflows. UltivisionAI is an investigational device and has not received FDA clearance. For more information, visit www.docbot.ai.
