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Avelios nabs $31M led by Sequoia to fix the ailing world of healthcare IT
The race is on to build a new generation of healthcare software to replace legacy hospital systems that in some cases may not have been updated in
Albrecht — who co-founded the company with CTO Nicolas Jakob and chief medical officer Sebastian Krammer — said in an interview that the plan is to use the funding to help both continue developing its system as well work on breaking into further countries. In addition to the wake-up call of Covid-19 (which itself has come, in Germany, with a funding boost from the government to update systems), there have been some other significant shifts that have helped Avelios land conversations, and then deals, with healthcare providers. SAP — one of the biggest providers dominating the legacy IT market in healthcare (and other verticals) — has been on the route transitioning its $30 billion enterprise resource planning (ERP) business to a cloud services architecture.
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