Sully - The AI Assistant Creating Superhuman Doctors

Company & Team Introduction

Sully is the leading AI assistant tailor-made for the antiquated healthcare vertical. The company’s product empowers medical professionals, allowing them to automate mundane tasks so they can spend their time helping more patients. Initially, Sully started as Odiggo in 2019, which went from idea to the largest online European auto marketplace in just a few years. Still, the team was forced to pivot to a new idea at the end of 2021 as Odiggo’s unit economics were too poor to support a sustainable business. They risked it all, pivoting industries and business models, and after seeing the recent innovations in AI coupled with an awful experience Nasser's wife encountered during pregnancy, the company saw the opportunity to apply the groundbreaking technology to a vertical in desperate need, the archaic healthcare vertical, and Sully was born. The company has a decorated founding team, including Ahmed Omar (CEO), who previously scaled an e-commerce company from 0 to $55M in sales in 3.5 years before moving back to Eygpt to start Odiggo, which grew to be the largest auto marketplace in Europe with an incredible 55% market share. The company’s CTO, Chaitanya Gharpure, previously worked at Google for over 15 years in senior software engineering and management roles, leading a team of 30 engineers and contributing to over 25 patients during his time at the company. Sully’s president, Ahmed Nasser, previously was a top performer of over 500 sales and marketing representatives selling medical products to US customers before teaming up with Omar to start Odiggo, which they scaled from 0 to a $14M revenue run rate in only 22 months. The company is headquartered in Santa Clara, California and has scaled its team to 7 full-time employees.

Product Overview

Sully’s AI assistant helps medical professionals across their entire workflow, from screening, decision support, scribing, diagnosis, clinical planning, and automations. The company’s product is supported by a Large Voice Action Model that allows medical professionals to prompt the AI assistant to perform tasks via voice. To aid with screening, Sully collects up-to-date symptoms directly from patients, gives a holistic view of patient health + symptoms, streamlines the intake process, and improves diagnostic accuracy. For diagnostics, Sully helps doctors by providing relevant contextual information, offering data-driven insights + suggestions based on patient consultations, and utilizing advanced algorithms to evaluate symptoms. For scribing, the company helps doctors seamlessly transcribe spoken conversations into medical notes, which improves note-taking accuracy and reduces administrative burden. For clinical planning, Sully suggests comprehensive treatment options based on diagnoses, customizes suggestions to each patient’s unique needs and supports continuity and quality of care. In addition to these vertical-specific features, Sully’s platform also powers general workflow automations to improve efficiency further and reduce administrative burnout. Sully is HIPAA-compliant and integrates with several leading EMRs like Oracle Cerner, Epic, and NextGen.

Total Addressable Market

The market opportunity for an AI-enabled medical assistant is immense and should drive massive gains in efficiency for the vertical. According to Statista, the AI healthcare market was already worth over $14.9B in 2023 and is forecasted to see explosive growth, expanding at a 39% CAGR through 2028, exploding Sully’s potential market opportunity to ~$102B annually.

Business Model & The Numbers

Sully offers a simple monthly subscription for their solution priced at $199/month per doctor, equaling $2388 in ARR per doctor on the platform. However, they are currently running different offers to accelerate new customer acquisition and growth. The company has gone from $0 to $455,000 ARR in 8 months, growing at an impressive 108% CMGR with one founder leading all sales initiatives. In addition to the remarkable growth, the company currently has several potentially lucrative deals in the pipeline.

Traction

Early adoption of Sully’s medical assistant among doctors has been impressive. The company has 50 medical organizations using its software, and its usage and retention metrics are stunning. The average doctor/user uses Sully 27 times a day, for over 3.6 hours of daily average usage and with 90% doctor retention. Sully’s assistant has been adopted by medical organizations such as Boundary Community Hospital, CNMG, SHIFA Health, and Ivy Health. So far, the company has seen an astounding 100% pilot-to-paid conversion rate from the 320 medical professionals who have piloted the product.

Competitors

The industry dynamics in the AI-enabled healthcare vertical are unique due to recent advances in artificial intelligence. The novelty of the technology has allowed Sully to move quickly and be first to market with an all-in-one solution. There are competitors trying to focus on one specific task, such as Nabla, which focuses on documentation, and GlassHealth, which focuses on clinical plan drafting, but a competitive full suite of products has yet to emerge. The company is also developing its model named “Doctor LM,” which, when finished, the team believes could reduce the cost of a query by up to 90% compared to other LLMs as it is built with a proprietary algorithm.

Funding

Sully has raised 2 prior rounds of funding as well as a bridge round. The company is backed by top firms such as Amity Ventures, Sequoia Scout Fund, Seedra Ventures, and YCombinator, as they participated in YC S21. The company is currently raising a pre-series A round. Investors looking for additional information should reach out to us at [email protected].