Intelligent digital anamnesis - by doctors for the practice

The initial funding was the EXIST start-up grant from the Federal Ministry of Economics, which we received for our idea in 2016. This enabled us to develop a software prototype for a year and carry out initial tests. In the same year, we also won several start-up competitions and received the High Tech Innovation Vouchers from the state of Baden-Württemberg. The biggest boost to our profile in the medical market came in 2018 when we came second in the KBV Future Practice project organised by the German National Association of Statutory Health Insurance Physicians. Together with our first major financing via the crowdinvesting platform Companisto, where we raised 500,000 euros, we were able to realise our market entry in 2019. Since then, we have received a total of EUR 5 million in capital from various sources and now have an advisory board and experienced investors at our side. At the same time, we have always been closely coached by experts in strategic, financial, sales and management issues.

Our Idana software consists of two components. The first, the desktop app, is installed in the practice. It connects Idana with the practice software. It also ensures end-to-end encryption so that the patient data cannot be read by anyone other than the practice providing treatment, including us. The second component is the survey app that the patient works with. This is a web app, so the patient does not have to download anything, but can access it via a link or QR code and any end device and complete the survey. Idana uses so-called adaptive questions in the survey process, which are based on previous answers. So there is a certain intelligence behind it - not a self-learning system, but medical expertise that is updated by us doctors with each new questionnaire. This enables the programme to select the appropriate follow-up questions and recognise warning signals. In addition, the patient can also upload photos and other files.

We have carried out almost one million digital patient images with Idana to date. What we are particularly proud of: Patients love Idana. Almost 400,000 patients have rated the Idana experience in an ongoing survey – with an average of 4.4 out of 5 stars and 95 per cent would like to use Idana again. We have acquired several hundred medical practices as customers to date and almost tripled our customer base in 2021. With the Series A financing, which we plan to complete by the end of the year and with which we want to raise 6 million euros in capital, we plan to reach 14,000 customers and 20 million annual recurring revenue by the end of 2026.

As a start-up, we are dependent on external financing because we are not yet able to support ourselves through our sales. In the last financing round, 15 of our customers participated and acquired shares in the company. It makes us very proud that our customers believe in the future viability of Idana. Over the past few years, we have laid the foundations for a functioning company. Teams, processes and the product are geared towards scaling. We know how we can generate customers and sales. Now we need sufficient investment to scale up. We are confident that we will find the right lead investor in the current Series A financing round.