Revolutionizing Biotech: Surbhi Sarna Raises $30 Million to Automate Paperwork with AI Startup Collate

Surbhi Sarna, a notable figure in the biotech community, is on the verge of launching her second startup, Collate, after achieving remarkable success with her first venture, nVision Medical, which was sold for an astounding $275 million. Sarna, who recently stepped down from her role as a partner at Y Combinator, has attracted $30 million in seed funding from investors, including Redpoint, First Round, and Conviction Partners, valuing her new company at over $100 million.

The Pain Point of Paperwork in Life Sciences

Sarna’s move into the entrepreneurial space comes on the heels of her journey through the daunting network of biotechnology funding. During her tenure with nVision Medical, she navigated the tumultuous waters of fundraising, ultimately gaining support for her ovarian cancer detection efforts. Now, her focus is on addressing one of the major challenges faced by life sciences companies—overwhelming paperwork. As Sarna articulated, the research, clinical trials, product development, and regulatory compliance involved in drug production require massive documentation, a pain point that Collate aims to alleviate through the power of artificial intelligence.

“The opportunity is there, but it must be embraced by someone who understands the intricacies of documentation and the capabilities of AI,” Sarna stated. “Customers I’ve spoken to are ready to implement this solution immediately.”

The Journey from Solo Founder to Business Leader

Sarna’s own experiences with health challenges motivated her initial foray into entrepreneurship. With firsthand knowledge of ovarian cysts and their potential severity, she developed the first FDA-approved device for easier cell collection from the fallopian tubes, pioneering a pathway for early ovarian cancer detection. After selling nVision, she dedicated a couple of years to Boston Scientific before transitioning to Y Combinator to foster other biotech innovations.

During her term at Y Combinator, Sarna championed the importance of funding life science startups, helping to build a robust network that supports early-stage companies. Her departure to launch Collate is seen as a natural progression, particularly as her personal aspirations align perfectly with the market needs.

Collate's Ambitious Vision and Unique Positioning

Although Collate is still in its infancy—lacking a commercial product and customer base—it plans to onboard several large life sciences clients in the upcoming months, according to the firm's backers. Investors project that Collate’s high-value client contracts will translate into strong retention due to the essential nature of the services provided.

Joining forces with CTO Nate Smith, a former Y Combinator partner and co-founder of recruiting platform Lever, Sarna aims to leverage Smith’s technological expertise as they develop Collate’s offering. Their partnership was serendipitously sparked during an exchange prompted by Sarna’s son, leading to a collaboration that combines their strengths.

A New Era for Document Automation in Biotech

While many companies are exploring AI applications in healthcare, Collate’s expansive approach sets it apart. The ambition is clear: to automate the heavy lifting of documentation, reducing the risk of human error in the process. Given that companies can require thousands of documents throughout their lifecycle, Sarna aims to capture every potential need, striving for a flawless execution of up to 5,000 documents instead of settling for less.

With this robust funding backing their vision, Sarna and Smith plan to scale rapidly. They intend to hire engineers and create a workplace culture that celebrates innovation and precision. “Building my own company allows me to curate the surroundings and the talent that will drive us forward," said Sarna. “This time around, we will act swiftly and strategically in our growth.”

As Sarna embarks on this new journey with Collate, the biotech space watches closely, eager to see how AI will transform the bureaucratic elements of life sciences and empower innovation in critical health discoveries. The future of biotech certainly looks promising, and with leaders like Sarna at the helm, the potential for breakthroughs is greater than ever. Don’t miss the unfolding story of Collate, as it gears up to change the landscape of medical documentation!