The new capital will help the Vancouver startup scale its learning management platform across North America.
Simuhealth will expand its enterprise resource planning platform for healthcare training in Canada and the US with new funding.
“Canadian startups have a tough time, especially when you're building an infrastructure platform rather than a shiny new SaaS thing with artificial intelligence.”
Matthew Hasser
Simuhealth
The Vancouver-based company has closed a pre-seed funding round of C$2.6 million, which the startup says has exceeded its initial goal of $2 million. The new capital will support Simuhealth's expansion into hospitals and academic institutions in Canada and the United States. Simuhealth already serves several clients in its province, including the Provincial Health Authority, Island Health, Interior Health and Fraser Health.
Founded in 2024 by CEO Matthew Hausser, Simuhealth automates the management of healthcare simulation, training and compliance programs. These programs help physicians test and learn new skills in a test setting before applying them in real-life healthcare settings.
Simuhealth argues that medical training is often conducted and tracked using fragmented, legacy software and manual processes; the company says its platform can help institutions standardize and scale training operations through better workflow management and reporting. Its software helps schedule medical simulations, track equipment inventory, track training attendance, and generate reports on results and resource usage to assist with budgeting.
The pre-seed round was led by two US venture capital firms, Looking Glass Capital and Parade Ventures, with a “significant investment” from RiverPark Ventures, BetaKit said in a statement. Other participants in the round include Altair Capital, Startup TNT, Wormhole Capital and angel investor Mike McCombie.
Lid wrote in a LinkedIn message that this was his first experience with venture capital in more than a decade as a full-time entrepreneur and operator, and called the process a “marathon.” His comments came because many felt widening funding gap between traditional software and artificial intelligence startups.
“Canadian startups have a tough time, especially when you're building an infrastructure platform rather than the next shiny thing in SaaS AI,” Hausser wrote.
In addition to the equity funding, Simuhealth said it has received an undisclosed amount of non-dilutive funding from the Industrial Research Assistance Program of the National Research Council of Canada to continue its technical research and development. BetaKit has reached out for more details.
Image provided Lucia Navarrete by using Unsplash.
