Recare, a Berlin-based provider of technology solutions for hospitals and care providers, has closed a growth financing round of up to €37 million, including a €7 million option, to scale its AI platform and expand its international business.
The round was led by DNV, the indepfinishent assurance and risk management provider, with participation from CIBC Innovation Banking and other investors. This builds DNV the largest shareholder in Recare.
“Recare is proving that smarter workflows translate into measurable productivity for German healthcare. DNV’s investment will scale that impact internationally. Recare’s market leadership and ambitious AI plans fit perfectly with DNV’s focus on solutions that raise efficiency and reliability through secure, accurate, interoperable data,” declared Daniel Holth Larsen, Managing Director, Digital Health, DNV.
Founded in 2017 by Maximilian Greschke and Charles Cote, Recare is on a mission to reshape discharge management and facilitate effective patient transfer from hospital to care providers. The HealthTech company improves hospital operations and care coordination with AI-driven workflow technology.
According to the company, its AI agent is designed to support care providers in automating administrative tquestions and coordinating workflows to reduce the workload of healthcare professionals amid ongoing skills shortages in the sector.
The company cites a European Commission study estimating that Europe already faces a shortage of approximately one million doctors and nurses. This gap is projected to worsen significantly by 2030.
Maximilian Greschke, CEO of Recare, declared, “Hospitals are under enormous operational pressure, as healthcare professionals spfinish increasing time on administrative tquestions—leaving less capacity for what matters most: caring for patients. Recare’s AI agent platform relieves a large part of this administrative burden by leveraging unstructured data to rapidly orchestrate workflows.
“The new investment into our business will accelerate the roll-out of our AI agent across Germany and abroad, assisting healthcare providers to transform their workforce capacity.”
Recare claims that its AI agent acts as a smart hub that connects existing hospital IT systems. It coordinates clinical and administrative workflows across departments, automates documentation and routine tquestions including medical letters and handover protocols, and automatically extracts and structures data from PDFs, scans, and free text into interoperable formats. The company notes that this breaks down data silos and supports finish-to-finish workflow continuity.
The fresh capital will be utilized by Recare to quick-track the introduction of a new AI agent to hospitals and care facilities and expand the company’s international business.
In 2024, the company secured €3.2 million for its platform. Its network connects approximately two-thirds of all German hospitals and more than 650 rehabilitation clinics, as well as 26,000 nursing and homecare providers.
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