AcuityMD raises $80 million to expand AI platform for MedTech sector

AcuityMD, an artificial intelligence platform focused on the medical technology sector, has raised $80 million in Series C funding to expand its AI capabilities and support its goal of accelerating adoption of medical technology, the company announced Tuesday.

The funding round was led by existing investor StepStone Group, with additional participation from Benchmark, Redpoint Ventures, ICONIQ and Atreides Management.

The company said the new capital will be used to enhance its platform with “agentic AI” capabilities for commercial teams, deepen the proprietary MedTech ontology that powers its data model, and expand the platform beyond commercial functions.

With the latest raise, AcuityMD said it has now raised more than $160 million in total funding and reached a valuation of $955 million.

AcuityMD said its platform is now used by 16 of the top 20 MedTech companies and has helped customers identify more than $34 billion in pipeline opportunities.

“AcuityMD is scaling rapidly while continuing to invest thoughtfully in its people and platform,” said Hunter Somerville, partner at StepStone Group. “The depth of the company’s data provides a meaningful advantage, and as AI capabilities continue to advance, that foundation becomes more valuable.”

Somerville said the company also sees opportunities for AcuityMD to support organizations beyond commercial functions, which reinforced StepStone’s decision to expand its investment.

The company said MedTech manufacturers face growing pressure to launch innovations while gaining market share in an environment shaped by portfolio shifts, hospital consolidation, regulatory changes and reimbursement updates. According to AcuityMD, those factors create a rapidly changing competitive landscape that is difficult for sales teams and business leaders to track on their own.

AcuityMD said it was created to address that challenge by consolidating commercial intelligence from disparate sources such as claims databases, FDA filings, government records and other market signals into a single platform.

At the core of the platform is a proprietary MedTech ontology, described by the company as a continuously updated knowledge graph that maps physicians, facilities, networks, procedures, reimbursement dynamics and the relationships between them. AcuityMD said it combines that information with customer-specific internal data, including contracting details, product indications, territory structures and CRM activity, to create what it calls a unified and continuously updated view of the health care market.

The company said this integrated view is intended to help commercial teams make faster decisions and improve execution in the field.

AcuityMD also announced that AcuityAI, its AI tool built on top of that data foundation, is now available in open beta.

According to the company, AcuityAI combines AcuityMD’s ontology, a customer’s business context and the needs of individual sales representatives to deliver insights tailored to specific commercial situations.

The company said the tool is designed to reduce the amount of time sales representatives spend determining where to focus their efforts and instead enable them to engage the right physicians with relevant business context.

“AcuityAI has given our commercial team sharper answers, faster,” said Mark Edwards, senior director of sales operations at Kuros Biosciences.

Edwards said information that previously took hours to gather can now be delivered in time for customer interactions, improving conversations and uncovering opportunities that might otherwise have been missed.

He cited an example in which a sales leader used AcuityAI to gather information about a new national contract with a large health system and quickly generated a business plan identifying priority surgeons, target accounts and relevant strategic context.

AcuityMD said the new investment will support three primary areas: expanding AI capabilities for commercial roles such as sales representatives, leadership and marketing teams; enhancing the MedTech ontology that underpins the company’s data model; and broadening the platform’s reach beyond commercial operations to support medical technology adoption across the full product lifecycle.

Chief Executive Officer and co-founder Mike Monovoukas said AI has the potential to reshape the MedTech industry when it is integrated into the workflows where decisions are made.

“AI will transform MedTech, but only with the right context, deeply embedded in the workflows where decisions are made,” Monovoukas said. “AcuityMD is that context layer, serving the rep in the field, the commercial leader planning territories, and the teams launching the next generation of innovation.”

Monovoukas said the latest funding will help accelerate the company’s broader effort to increase adoption of advanced medical technologies across the health care industry.

“This funding accelerates our shared mission of accelerating adoption of cutting-edge medical technologies,” he said.