Tandem Health Raises $100m to Move Beyond the AI Scribe

EQT's Scaleup Europe Fund leads a Series B as Tandem seeks to turn its medical assistant into software for entire clinics.

21 Sep 2026

An artificial-intelligence scribe was Tandem Health's starting point. Three years after its founding, the Stockholm company wants to build software that helps run an entire clinic, and it has raised $100 million to pursue that larger role.

The Series B was announced on September 14 and led by the EU-backed Scaleup Europe Fund managed by EQT, marking the fund's first healthcare investment. Existing backers Kinnevik, Northzone, Amino Collective and Visionaries also participated.

Since its founding, Tandem has raised $160 million, including a $50 million Series A completed in 2025. Founded in 2023 by Lukas Saari, Oliver Astrand and Oscar Boldt-Christmas, the company employs about 170 people and focuses on Europe. The UK is its largest market by user numbers.

Its AI scribe is used across 10,000 care organisations in 14 countries, including by clinicians in Britain's National Health Service. Since then, Tandem has added a Coding Assistant and Clinical Decision Support, aiming to connect documentation, coding and clinical guidance within one platform. Over the past six months, each of those three tools has been independently certified as a Class IIa medical device under the European Union's Medical Device Regulation. Certification gives the expansion a regulatory base, though adoption across whole clinics will demand more than adding functions to a successful scribe.

"Europe should be setting the standard for how AI enters healthcare, not adopting someone else's," said chief executive and co-founder Lukas Saari. The company's valuation in the new round was not disclosed.

With the financing, Tandem has room to broaden its product while maintaining a European regulatory focus. Its challenge is to prove that software built to listen during a consultation can become dependable infrastructure for the many tasks surrounding it.