UAE-based healthtech startup TERN Group has successfully raised $24 million in a Series A funding round to fuel the regional and international expansion of its AI-powered platform for managing medical staff. The round brings the company’s total funding to $33 million since its launch.
The round was co-led by Notion Capital and EQ2 Ventures, with participation from RTP Global, LocalGlobe, Leo Capital, Presight Capital, and Tom Stafford, co-founding partner of DST Global.
By The Numbers
- Funding Round: Series A
- Amount Raised: $24 Million
- Total Funding to Date: $33 Million
- Founded: 2023
- Recruitment Time Reduction: From 1 year to under 10 weeks
Solving a Critical Healthcare Challenge
Founded in 2023 by Avinav Nigam and Krishna Ramkumar, TERN Group addresses the long, costly, and inefficient process of recruiting qualified medical professionals. The company’s “Clinical AI Workforce Platform” provides an end-to-end solution that dramatically cuts down the hiring and onboarding timeline from a full year to less than 10 weeks, significantly reducing costs and increasing operational efficiency for hospitals and healthcare providers.
A Hybrid AI and Human Approach
TERN’s platform utilizes a powerful hybrid model to streamline recruitment.
- AI-Powered Automation: The company’s AI systems automate high-volume tasks such as analyzing CVs, checking for regulatory compliance, and conducting initial candidate screening.
- Human-Led Support: A dedicated human team manages the crucial aspects of training and cultural integration for medical staff recruited from 13 different countries, ensuring a smooth transition for both the employee and the employer.
Fueling International Growth
The new capital will be used to further develop the platform, with a focus on enhancing its training and compliance systems. The primary goal is to drive the company’s expansion into the wider Gulf region, Europe, and the United Kingdom by deepening its integration with national healthcare systems.
About TERN Group
TERN Group is a UAE-based healthtech company that has developed an AI-powered platform to provide an integrated solution for the training, credentialing, and recruitment of medical professionals for healthcare institutions globally.
Looking Ahead
TERN Group’s significant Series A round highlights the massive market opportunity in solving healthcare’s complex operational bottlenecks with technology. The company’s hybrid AI-human model is well-suited to tackle the high-stakes process of international medical recruitment. With strong backing from a mix of prominent European and global VCs, TERN is now well-capitalized to scale its innovative model from its UAE base to other major global healthcare markets.
Source: Jawlah
