otomo
Otomo enables smarter patient-physician engagement using AI
Location:
United States
Founded:
2024
Team Size:
3
Industry:
Analytics, Artificial Intelligence (AI), Healthcare, Health and Wellness, SaaS (Software as a Service)
Founders:
Mike Sanchez, CEO,
Kevin Yang, COO,
Kiyo Takanishi, CFO,
About:
Otomo bridges the critical gap in patient care with our AI platform. Patients often feel overwhelmed by complex medical instructions, while doctors struggle with administrative overload. Otomo simplifies medical information into an intuitive learning experience and integrates seamlessly into doctors' workflows. It ensures that no one is left in the dark—patients are informed, and doctors are empowered, starting from fast-turnaround surgeries.
Describe your startup. What is your startup's mission, and what problem are you solving and who are your customers?
Otomo bridges the critical gap in patient care with our AI platform. Patients often feel overwhelmed by complex medical instructions, while doctors struggle with administrative overload. Otomo simplifies medical information into an intuitive learning experience and integrates seamlessly into doctors' workflows. It ensures that no one is left in the dark—patients are informed, and doctors are empowered, starting from fast-turnaround surgeries.
Who are the founders, and what sparked the idea for this venture?
We are three MIT Sloan MBA students dedicated to healthcare, each bringing a unique background to our team. Inspired by the potential of AI in healthcare, we initially focused on generating discharge summaries at MIT Fuse, an incubator program. As we delved deeper into the healthcare space, we recognized a significant need and pivoted to develop an AI-powered digital clinic for surgical patients. A turning point for our business model came when we transitioned from a healthcare delivery model to a software-as-a-service approach. This strategic shift proved successful during our participation in MIT delta v, a summer accelerator program. Through this program, we gained valuable traction and received encouraging feedback from our early customers, validating our new direction and setting the stage for our company's growth.
What makes your product or service unique in the market?
Otomo Health is an innovative B2B SaaS platform that revolutionizes patient engagement and streamlines clinical workflows through AI-driven UI/UX optimization. Our technology features an AI chat system that, guided by physician-provided content, utilizes a continuous feedback loop to improve with each patient interaction. This ensures the information delivered becomes increasingly precise and tailored to both the physician's materials and the patient's level of understanding. With adaptive learning capabilities, our platform refines patient education and engagement over time, becoming more effective with each use. Starting with gastroenterology and obstetrics/gynecology, Otomo is poised to scale into hospital systems, fundamentally transforming healthcare delivery.
What milestones have you achieved so far if any, and where do you see your startup in the next 2-5 years?
During the two months of the delta v accelerator program, we secured eight pilot studies with prestigious hospitals across the U.S. and acquired one paying customer. We project achieving $2.7 million in annual recurring revenue (ARR) within two years by expanding into multiple surgical departments in regional hospitals and medical centers while raising a Series A funding round. Over the next five years, we aim to reach $62.7 million in ARR by expanding into adjacent surgical and non-surgical specialties and developing additional revenue streams through collaborations with pharmaceutical, medical device, and insurance companies.
What defines your company culture, and what type of talent are you looking for?
Our key values are integrity, empowerment, and the philosophy of "mind and hand." We prioritize people who are strongly dedicated to doing good for patients and peers, who strive to improve those around them, and who put thoughts into action—values that remind us of our legacy from MIT.
Are you currently open to investments or partnerships?
We seek $1.5 million in pre-seed investments in 2024 and partnerships with health systems or chain practices.
How can interested investors, partners, or potential employees get involved or learn more?
What were the best and worst pieces of advice you received as a founder?
One of the best pieces of advice we received was that it's not the technology that needs to be revolutionary but the customer experience. Conversely, the worst advice was to build a prototype before testing the market.