In a new era of technologies, Steve Johnson still sees a lot of people who are still tasked with transferring information from physical paper to computers.
Johnson, CEO and co-founder of Denver-born Notable Systems, aims to make that kind of data input less tedious and time consuming.
Documents that originate as paper, handwriting that needs to be transcribed and information that can't automatically transfer between computer systems are particularly common problems among companies that sell medical equipment, Johnson said.
He and co-founder John Huggins started Notable Systems in 2017 when asked by a California hospital if they could transfer its paper-only clinic to a structured digital system.
The pair realized that what they had done would be useful for others in health care. Shortly after, a large orthopedics company — now known as Enovis — became one of their first customers.
The medical device industry has fueled Notable's growth ever since.
The company on Thursday landed a Series A $8.8 million funding round from Colfax Corporation, Grotech Ventures and others.
With it, Johnson said Notable plans to spend the next year focused exclusively on medical equipment companies, working to expand and improve its artificial intelligence-driven platform. Notable says it uses machine learning to process and extract relevant information from documents.
Notable was primarily founder-funded until the company came to market last September, at which point it acquired a number of new customers, Johnson said.
Notable Systems today employs about 50 people who are spread across the country, he said. The company has dual headquarters with another office in Newport Beach, California.
After about a year focused the medical device industry, Johnson said the company plans to strategically think about entering a new market.
Notable has already worked with several financial management firms in Denver, Johnson said, and the company may explore working more closely with insurance companies or hospitals.
He cited hospitals as a good example of systems that are today mostly digital, but that could still use Notable's help. Patient records systems often don't communicate with other platforms, leaving employees to transcribe information from a PDF from an outside system.
"There's no such thing as a paperless office, even today," Johnson said.
He said Notable's business centers on the company mission to "liberate human potential" for employees at any company.
"The process of simplifying [manual input] and giving them tools to do that more quickly will liberate them to do other, more meaningful work for their company," Johnson said.
