Tandem Health raises $100 million to scale AI across
Swedish healthtech firm Tandem Health has secured $100 million in Series B funding led by the Scaleup Europe Fund.
Stockholm-based Tandem Health has raised $100 million in a Series B funding round. The investment was led by the Scaleup Europe Fund, managed by EQT, and marks that fund's first foray into healthcare AI.
Existing investors Kinnevik, Northzone, Amino Collective, and Visionaries also participated. This latest round brings Tandem's total funding to $160 million. The company plans to use the new capital to expand adoption across Europe, grow its clinician-led team, and evolve its AI Medical Assistant into a broader AI-native Clinic Operating System.
The Strain on European Healthcare
Tandem Health was founded three years ago to address systemic pressures in European healthcare. The World Health Organization estimates a shortfall of 1.6 million health and social care workers in 2024, a figure projected to rise to 4 million by 2030. An aging population compounds this crisis. Eurostat projects that by 2050, there will be fewer than two working-age adults for every retiree in Europe.
CEO and co-founder Lukas Saari stated that Europe's health systems are under real strain. "We started Tandem to provide an alternative," he said. "Europe should be setting the standard for how AI enters healthcare, not adopting someone else’s."
A Certified AI Medical Assistant
The company's core product is an AI medical assistant designed to support clinicians before, during, and after patient visits. It prepares patient summaries, provides clinical decision support during consultations, and handles subsequent documentation and medical coding automatically.
Tandem claims it is the only AI Medical Assistant with an AI Scribe, Coding Assistant, and Clinical Decision Support system where each component is independently certified as a Class IIa medical device under the EU Medical Device Regulation. The company holds three such certifications.
Peer-reviewed research cited by the company indicates that clinicians using Tandem report significant improvements. The reported outcomes are summarized in the table below.
| Metric | Improvement |
|---|---|
| Time spent on administration | 29% reduction |
| Job satisfaction | 30% improvement |
| Administrative stress | 30% reduction |
Since its founding, Tandem has established offices in 14 European markets. Its technology has been adopted by over 10,000 care organizations, including major providers like Ramsay Santé, Humanitas, and the UK's National Health Service (NHS).
Scaling the AI Platform
The $100 million investment will be directed toward two primary goals. The first is to accelerate Tandem's position as the AI partner for Europe's leading care providers. This involves expanding its clinician-led team, which already includes over 75 in-house clinicians developing and delivering AI solutions.
The second goal is a product evolution. The company aims to expand from its current AI Medical Assistant into a comprehensive AI-native Clinic Operating System. This new system would manage patient flows and enable AI agents to solve additional clinical tasks.
Nils Petter Nygaard, Managing Director at EQT and the Scaleup Europe Fund, endorsed Tandem's approach. He highlighted the complexity of Europe's fragmented regulatory regimes and varied care models. Nygaard said Tandem has demonstrated an ability to scale in a pan-European way, supporting thousands of organizations with AI that reduces administrative burdens.
The Scaleup Europe Fund, which targets €5 billion, was initiated by the European Commission and is managed by EQT. It aims to back ambitious European technology companies to help them grow into global leaders. For Tandem Health, the new capital is a step toward building what its backers believe could become the foundational AI layer for European healthcare in the decades ahead.
