MemorialCare backs $13M investment round for AI-powered healthcare workforce company

MemorialCare Innovation Fund, the investment arm of Fountain Valley, Calif.-based MemorialCare, joined in on a $13 million series B investment round for artificial intelligence-powered healthcare workforce company Laudio.

Laudio provides health systems with technology designed to simplify automated processes and reduce burnout by saving time on administrative work. The funding round brings Laudio's total raised to $25 million, according to a June 8 Laudio news release.

The company plans to use its series B haul to fund product development, grow its sales and marketing teams and invest in its AI and analytics platform. Define Ventures led the funding round.

"Laudio's proprietary data and tools are creating a science for how frontline leaders can manage employees — this company is uniquely positioned to usher in the future of work in healthcare," A.G. Breitenstein, venture partner at Define Ventures, said in the news release. "At a time when hospital economics are completely upended, Laudio has the ability to help health systems reduce labor costs and increase productivity."

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