Series B brings total funding to €138.38 million
Tandem Health, a Stockholm-based HealthTech startup building an AI medical assistant for European clinics, has raised €86.49 million ($100 million) in Series B funding. The round was led by the Scaleup Europe Fund, managed by EQT, with participation from existing investors Kinnevik, Northzone, Amino Collective, and Visionaries. The company has now raised €138.38 million ($160 million) since its founding in 2023.
The funding comes eight months after a €42.6 million Series A led by Kinnevik in June 2025. Tandem Health said it will use the capital to expand across European markets and grow its clinician-led team, which already includes more than 75 in-house clinicians.
What Tandem Health builds
Tandem Health develops an AI medical assistant that supports clinicians before, during, and after patient visits. The system prepares patient summaries ahead of appointments, provides clinical decision support during consultations, and handles documentation and coding afterward.
The company said it is the only AI medical assistant with an AI scribe, coding assistant, and clinical decision support tool, each independently certified as a Class IIa medical device under the EU Medical Device Regulation. The platform also holds ISO 27001, ISO 13485, ISO 42001, and country-specific certifications in Germany, Spain, and France.
In January, Tandem Health acquired Dutch AI medical scribe Juvoly to expand clinician-first AI documentation across Europe. The company cited peer-reviewed research showing that clinicians using Tandem saw a 29% reduction in admin time, a 30% improvement in job satisfaction, and a 30% reduction in administrative stress.
Scaleup Europe Fund backing
The Scaleup Europe Fund, which targets €5 billion, was initiated by the European Commission and is managed by EQT. It combines public and private capital to support European technology companies. Nils Petter Nygaard, Managing Director at EQT and Scaleup Europe Fund, said Tandem is "one of the few healthcare technology companies to demonstrate it can scale in a pan-European way, already supporting more than 10,000 care organisations with AI that reduces administrative burden and frees up clinicians' time for higher-impact work."
Tandem Health has established offices in 14 European markets and counts Ramsay Santé, Humanitas, and the NHS among its users. The company plans to evolve from an AI medical assistant into an AI-native clinic operating system that also manages patient flows and enables agents for additional clinical tasks.
Why this matters for healthcare professionals
For clinicians and healthcare administrators, Tandem Health's growth signals that AI tools designed specifically for European regulatory and care models are attracting serious capital. The company's certifications under the EU Medical Device Regulation mean its scribe, coding, and decision support tools have passed independent conformity assessments - a different bar than general-purpose AI tools retrofitted for clinical use. Medical coders and billers should watch how automated coding tools like Tandem's affect workflow expectations, as the company reports measurable reductions in administrative time. For professionals evaluating AI for Healthcare, the key question is whether tools carry the right certifications for your market and whether they integrate with existing systems rather than adding another interface. Those working in revenue cycle management may also want to review how AI for Medical Billers is changing documentation and coding responsibilities.
Your membership also unlocks:
