Tandem Health has raised $100 million in Series B funding, led by the Scaleup Europe Fund, managed by EQT. Tandem Health is the first healthcare AI company the Fund has backed, a Fund created to back Europe’s most ambitious technology companies as they scale into global leaders.
Their existing investors Kinnevik, Northzone, Amino Collective and Visionaries are also participating in the Series B. It follows a $50m Series A in 2025, bringing Tandem’s total funding to $160m.
Tandem Health was founded on the principle that someone needs to take care of healthcare in Europe. The continent’s health systems face a widening gap between demand and workforce and the WHO estimates a shortfall of 1.6 million health and social care workers in 2024, rising to 4 million by 2030.
To compound this, the number of Europeans over 65 will rise to around 130 million by 2050, cared for by a workforce that Eurostat projects will shrink to fewer than two working-age adults per retiree.
The current trajectory with rising healthcare costs, shortages of clinicians and an aging population is not sustainable. Tandem Health is addressing this issue by building clinically safe, regulatory-grade AI that clinicians can trust.
Europe’s health systems are under real strain and AI presents a tangible solution. But until now, European care providers have had to depend either on legacy solutions or AI solutions originally built for other markets that were retrofitted for Europe.
We started Tandem to provide an alternative. Europe should be setting the standard for how AI enters healthcare, not adopting someone else’s. This funding lets us do that, bringing healthcare safely into the AI era, working in tandem with patients, clinicians, systems and nations. That’s how we’re taking care of healthcare.
Lukas Saari, CEO and co-founder of Tandem Health
Improving healthcare is about four key dimensions; care quality, care efficiency, patient experience and clinician work environment. Historically, improvements in one dimension has been at the expense of another. For example, to improve the tracking of care outcomes, there’s new documentation requirement that the clinician needs to perform.
For the first time, technology now enables improvements along all four dimensions at the same time.
Tandem Health offers a complete AI Medical Assistant that supports clinicians before, during and after the patient visit. It prepares patient summaries ahead of appointments, provides clinical decision support during the consultation, and automatically handles the documentation, coding and task management that follows.
Tandem is the only AI Medical Assistant that has an AI Scribe, Coding Assistant, and Clinical Decision Support, each independently certified as Class IIa medical devices under the EU Medical Device Regulation. Tandem Health is also certified according to ISO 27001, ISO 13485, ISO 42001, C5 in Germany, ENS High in Spain, HDS in France.
Peer-reviewed research has shown that clinicians using Tandem report a 29% reduction in time spent on admin, 30% improvement in job satisfaction and a 30% reduction in administrative stress. Since being founded three years ago, Tandem has established offices in 14 European markets and been brought to over 10,000 care organisations. This includes Europe’s largest care providers such as Ramsay Santé, Humanitas, and the NHS.The funding will be used to strengthen Tandem’s position as an AI partner for European healthcare providers and to develop the company into an AI-native Clinic Operating System.
European healthcare is complex. Tandem is one of the few healthcare technology companies to demonstrate that it can scale pan-European, already supporting more than 10,000 care organisations with AI that reduces administrative burden and frees up time for higher-impact work. We believe Tandem has the potential to become a foundational AI layer for European healthcare over the coming decades.
Nils Petter Nygaard, Managing Director at EQT and Scaleup Europe Fund
Tandem Health is a European healthtech company building AI that clinicians can trust. Its AI Medical Assistant supports clinicians across the full patient visit, from documentation to coding and clinical decision support. CE marked under the EU Medical Device Regulation, certified under ISO 27001, ISO 13485, ISO 42001, and BSI C5, and integrated with more than 130 medical record systems across Europe, Tandem is used by 10,000 care organisations across 14 markets.
The Scaleup Europe Fund, managed by EQT, is a commercially driven alternative investment fund backing ambitious European technology companies with the potential to become global leaders. Targeting €5 billion, the Fund brings together public and private capital and invests across Deeptech, AI and Life Sciences.
EQT is a global investment organization with a Nordic heritage and more than three decades of experience developing companies. With €341 billion in total assets under management, EQT invests across the full lifecycle of companies, from start-up to maturity.
