November 9, 2023: A notable purchase
What to watch as an entrepreneur, another great purchase, another win for healthcare, and a company hiring now
Profile: Meet Mahshid Yassaei & TaliAI
We sat down with Mahshid Yassaei, CEO of TaliAI to discuss how Tali is supporting the healthcare industry in a very unique way
What is Tali?
At Tali, we aim to save physicians time and ease their administrative burden. Use Ambient Scribe to generate a summary of the visit automatically, just from listening to your conversation with the patient. Install Tali in minutes and use it atop any EHR system.
How are you supporting healthcare professionals?
Physicians experience significant burnout, largely attributed to technology. Atul Gawande's 2018 article, "Why doctors hate their computers?" highlights this frustration. Research indicates physicians lose up to 15 hours weekly on administrative tasks tied to Electronic Medical Record (EMR) use. To address this, we're developing an AI assistant tailored to physicians, streamlining workflows at the point of care and serving as a centralized interface for all technology interactions.
What has been the biggest challenge you’ve faced?
Healthcare innovation is challenging for physicians overloaded with work and EMR providers hindered by privacy and security regulations. Fortuitously, our partners assist us in navigating these healthcare-specific challenges.
Who are the Canadian startups you admire in your market?
For even more insights - check out our recent TechTO: Premium content which featured an in-depth discussion with Tali’s CEO, Mahshid
Quick Take: Another notable purchase
image courtesy of ideogram.ai
We are Certn this was a great purchase 🛍️
What is the news?
Victoria-based Certn announced that it acquired Slovakia-based Trustmatic.
Why did Certn make the acquisition?
This appears to be a product/technology acquisition as Certn stated that Trustmatic's identity verification technology suite will enhance its offering and better enable it to provide fast and easy identification services.
In particular, Certn said these products will be coveted by its financial service customers.
Trustmatic does this with a suite of products that include identity document reading and authentication, face liveness detection, and biometrics will enhance its offering.
So how does this benefit Certn?
This is fundamentally a buy vs. build decision and Certn figured it was better to buy the finished product than build it in-house.
Either way, they are making an investment in increasing their share of wallet with current customers (e.g. increasing sales to current customers) and improving the conversion of customers in the pipeline. The number of dollars this produces revenue to be a winner depends on the total cost of the acquisition and implementation.
Certn seems to be building an acquisition muscle as this is the fourth acquisition they have done.
Was this a win for Trustmatic?
The company was founded in 2020 and seems to have only raised four hundred thousand euros. To see their product deployed more widely is always a great feeling and there may be financial upside depending on what they sold for and the currency (cash versus equity) that it was paid in.
Any takeaways for the community?
This feels like a preview of 2024.
A few leading tech companies will acquire technology and customers as companies funded in the early 2020s are forced to sell due to the tough fundraising environment.
A new episode drops next week
Reads & Opportunities
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Who made the Technology Fast 50 List?
Our profile company Tali is hiring now - apply here
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