In a bid to tackle the administrative burden on medical and administrative staff, Pharos, a healthtech startup, has raised $5 million in seed funding to automate quality reporting for hospitals. The company, which was part of Y Combinator's summer 2024 cohort, uses AI to extract data from electronic medical records (EMRs) and populate forms required by external clinical registries.

The reporting process, which can take up to eight hours per case, is a significant pain point for hospitals. Pharos' solution aims to free up staff time and reduce costs, allowing hospitals to focus on delivering high-quality patient care.

The funding round was led by Felicis, with participation from General Catalyst, Moxxie, and Y Combinator. Pharos' co-founders, Felix Brann, Matthew Jones, and Alex Clarke, a medical doctor with a PhD in AI, plan to use the capital to build a sales team and establish relationships with hospitals.

With its unique combination of healthcare expertise and AI talent, Pharos is well-positioned to dominate the quality reporting space, which is currently underserved by startups. As the company grows, it's likely to attract more competition, but for now, Pharos is leading the charge in streamlining hospital reporting.