In 2012, Ian Shakil and his co-founder, Pelu Tran, launched Augmedix, a service for physicians that aids them in electronic health reporting, freeing them to focus more on patient care.
For two years the former Stanford classmates worked on building the company, but by 2014, Shakil applied to the SoFi program to get some relief from his $100K student loan debt.
At that time, Augmedix was at the seed stage: Shakil and Tran had sourced less than $1 million. "We were just beginning to talk to institutional investors," said Shakil. A year later, Augmedix has now raised $30 million—$16 million from one round of Series A venture funding co-led by the company's seed investors Emergence Capital and DCM Ventures.
Augmedix currently has commercial operations in 10 states, with five national health systems in the U.S. using the Augmedix service.