In the past few months, headlines have been buzzing with news about artificial intelligence startups securing significant funding, fueled by the success of ventures like ChatGPT. However, this doesn’t mean that investors have shifted their focus entirely. Investors and venture capital firms are still paying attention to startups in other fields such as cybersecurity and healthcare, which are also raising substantial amounts of capital.
Venture capital firms have been diversifying their investment portfolios to avoid putting all their eggs in one basket. One of the beneficiaries of this trend is AMOpportunies, a Chicago healthcare tech startup that manages clinical training for schools, hospitals, and students globally. The startup recently raised $2 million in Series A2 funding, bringing its total funding to nearly $11 million.
In an email to TechStartups, AMOpportunities told us it will use the fresh capital infusion to continue to expand its network of U.S. hospitals and clinical partners as well as global medical schools in an effort to solve the U.S. physician shortage, which is projected to be between 37,800 and 124,000 physicians by 2034.
Founded in 2013 by CEO Kyle Swinsky and COO Ben Bradley, AMOpportunities provides a “clinical training as a service” platform to more than 5,500 students with rotations at 325-plus clinical sites. They count Kaplan Medical and AMSA as partners as well as institutions such as the University of Miami, UChicago Medicine, Florida International University, and UI Health.
In a statement, AMOpportunities CEO Swinsky said: “We are thrilled that Laerdal Million Lives Fund and LAGO Innovation Fund are joining our Series A2 financing to complete our $2 million round. Both organizations have invested in incredible companies, and we’re proud to join their growing list of investments.”
The Laerdal Million Lives Fund was established in 2020 with a mission to invest in enabling technologies and platforms that can save lives by improving healthcare quality and enhancing the education of healthcare workers. Laerdal Medical, a world-leading provider of healthcare training and therapy products, backs the Million Lives Fund. They are investing $1 million and will also have an observer role on the Board.
“AMOpportunities aligns with our mission of supporting disruptive and innovative education and learning platforms across the healthcare space,” says Jeff Trost, Managing Partner of the Million Lives Fund. “AMO is playing a meaningful role in educating the next generation of healthcare professionals—giving these learners unique access to clinical experiences and rotations that are essential to building a more robust network of clinical workers. At the Million Lives Fund, our goal of improving healthcare quality, increasing skills and proficiencies of healthcare workers globally and reducing preventable medical errors is aligned with the ROI and value propositions AMO delivers to their customers. We’re excited to invest in the company, join their Board, and be a part of their future growth strategy.”
In addition to the Million Lives Fund, LAGO Innovation Fund, AMO’s current lender, is also investing in equity, committing $50K to support AMOpportunities. This additional funding will help AMO expand its network of U.S. hospitals, clinical partners, and global medical schools.
This investment news follows other positive developments for AMOpportunities, including welcoming Dr. Kevin Klauer as senior advisor for strategic partnerships, appointing Jon David Willingham to its Board of Directors, and celebrating its 10th anniversary.
“In the past year, AMO has made tremendous strides in our work towards bridging the healthcare gap,” says Ben Bradley, COO, AMO. “This funding demonstrates the confidence our current investors, and now new additions, have in AMO as we continue to address the healthcare provider shortage.”