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Exclusive: Assort Health raises $76 million Series B to build on voice AI healthcare platform

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Like so many people with busy 9-to-5s, high school teacher Suzanne Grinberg has a scheduling problem: By the time she has a free moment in her day to call her doctor to make an appointment, the doctor’s office is already closed. 

So, when she recently called her dermatologist before business hours, Grinberg expected to leave a voicemail—but instead got a pleasant surprise. “At 5:30 AM, when I was putting on my makeup to go to work, I was able to make my appointment,” she said.

Grinberg’s dermatologist had started using a voice AI system called Assort Health, a startup building specialty-specific agents for healthcare. The company was founded in 2023 by Jeff Liu and Jon Wang, who together spent two years getting to know the healthcare system before the startup picked up steam. 

“What’s really interesting about our space is that voice AI and LLMs have actually been around for a while,” said Liu, who is the co-CEO. “But healthcare is so complicated. They have binders, spreadsheets full of these really complicated rules, and that’s prevented automation from helping providers—despite them really needing help.” 

Assort, which to date has collected approximately 42 million patient interactions on its platform, raised its $22 million Series A in April, with Term Sheet breaking the news. They’re now back, just a few months later: Assort has raised a $76 million Series B, led by Lightspeed, Fortune can exclusively report. First Round and Chemistry, which led the Series A, returned as investors for this round and were joined by Felicis, A*, Liquid 2 Ventures, and Quiet. This brings Assort’s total capital raised to date to $102 million, and to one doctor, the tech solves a key business problem. 

“The problem in any business, if you don’t have individuals working at the top of their license, is that you’re leaving money on the table,” said Dr. Titus Abraham, physician at Annapolis Internal Medicine, a practice using Assort. “They’re doing things that can be done better by someone else or by a different system…I shouldn’t be signing paperwork or taking calls all day.”

The end game, says cofounder and co-CEO Wang, is “moving from a reactive system where you as a patient have to schedule a primary care appointment six months out, to a system that’s more proactive and preventative.” For example, Wang says, “if you know after you get your cortisone injection in your right knee, you need to schedule another appointment three months out, we’re going to have an agent that’s going to be there for you, helping make sure you get your time booked right.”

It’s a lofty goal, to be sure, and not one any single company can accomplish in a system as labyrinthine and layered as U.S. healthcare. All the same, this is a moment characterized by a unique level of optimism (and venture dollars) flowing into a wave of young startups at the intersection of healthcare and AI. Lightspeed partner Galym Imanbayev attributes this momentum to “the surface area by which technology and AI can impact healthcare [having] dramatically expanded…leading to unprecedented ROI demonstrated tangibly by customers.” Olympic gold medal speedskater and Assort investor Apolo Ohno puts it more directly: “The radical speed at which AI is transforming industries right now is not debatable.”

For Assort’s Liu, the ultimate value is in the patient experience: “It’s a painful process to get access to care. And when we solve this critical problem in a way patients and providers haven’t seen before, it’s this magical moment.”

See you tomorrow,

Allie Garfinkle
X: @agarfinks
Email: alexandra.garfinkle@fortune.com
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Joey Abrams curated the deals section of today’s newsletter. Subscribe here.

Venture Deals

– Alvys, a Solana Beach, Calif.-based developer of AI technology for freight operations, raised $40 million in Series B funding. RTP Global led the round and was joined by Alpha Square Group and others.

– OXCCU, an Oxford, U.K.-based sustainable aviation fuel company, raised $28 million in Series B funding from International Airlines Group, Safran Corporate Ventures, Orlen, Aramco Ventures, and others.

– Paid, a London, U.K.-based monetization and cost tracking platform for AI agents, raised $21.6 million in seed funding. Lightspeed Venture Partners led the round and was joined by FUSE and existing investor EQT Ventures.

– Lexroom.ai, a Milan, Italy-based developer of legal AI software, raised $19 million in Series A funding. Base10 Partners led the round.

– Mondoo, a San Francisco-based developer of a vulnerability management platform for agentic AI, raised $17.5 million in funding. HV Capital led the round and was joined by T.Capital and existing investors Atomico, Firstminute Capital, and System.One.

– Goodfit, a London, U.K.-based data platform for go-to-market strategy, raised $13 million in funding. Notion Capital led the round and was joined by Salica Investments, Inovia Capital, Robin Capital, Common Magic, and Andrena Ventures.

– Neura Health, a NYC-based virtual neurology clinic, raised $11.4 million in Series A funding. The American Heart Association’s Go Red for Women Venture Fund led the round and was joined by Norwest Venture Partners, Koch Disruptive Technologies, Esplanade Ventures, and others.

– Confido Health, a New York City-based agentic AI platform for health care operations, raised $10 million in Series A funding. Blume Ventures led the round and was joined by Schema Ventures, Vicus Ventures, and others.

– InOrbit.AI, a Mountain View, Calif.-based AI-powered robot orchestration platform, raised $10 million. L’ATTITUDE Ventures and Globant Ventures led the round.

– Supernova, a Dover, Del.-based developer of an AI-powered collaborative workspace for product teams, raised $9.2 million in Series A funding. Taiwania Capital led the round and was joined by J&T Ventures, Reflex Capital, and existing investors.

– Arqh, a Zurich, Switzerland-based AI company developing a decision-intelligence engine for complex operations, raised $3.8 million in pre-seed funding. Founderful led the round and was joined by Merantix Capital.

Private Equity

– AAi Labels & Decals, backed by Portrait Capital, acquired Sticker Ranch, a San Antonio, Texas-based labels and stickers provider. Financial terms were not disclosed.

– Northrim Horizon acquired ACG Systems, an Annapolis, M.D.-based systems integrator and technical service provider for wireless communication systems. Financial terms were not disclosed.

– Towne Park, backed by Greenbriar Equity Group, acquired Frogparking, a Palmerston, New Zealand-based parking systems company. Financial terms were not disclosed. 

Funds + Funds of Funds

– Concept Ventures, a London, U.K.-based venture capital firm, raised $88 million for its second fund focused on pre-seed companies.

People

– GV, a San Francisco-based venture capital firm, promoted Vidu Shanmugarajah to general partner.

– Turnspire Capital Partners, a New York City-based private equity firm, promoted Ahdiv Nathan to principal.

Introducing the Fortune AIQ 50 ranking

Today, we published the Fortune AIQ 50, a new ranking that evaluates how Fortune 500 companies are actually deploying AI, and how technology leaders value those investments relative to industry peers. The ranking is a record of how 18 sectors across the Fortune 500, including financials, health care, and retailing, are utilizing AI to personalize customer experiences, provide groundbreaking data analysis, optimize supply chains, and more. Explore the list, and catch up on our ongoing Fortune AIQ series.



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Construction workers are earning up to 30% more in the data center boom

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22 minutes ago

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December 5, 2025

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Big Tech’s AI arms race is fueling a massive investment surge in data centers with construction worker labor valued at a premium. 

Despite some concerns of an AI bubble, data center hyperscalers like Google, Amazon, and Meta continue to invest heavily into AI infrastructure. In effect, construction workers’ salaries are being inflated to satisfy a seemingly insatiable AI demand, experts tell Fortune.

In 2026 alone, upwards of $100 billion could be invested by tech companies into the data center buildout in the U.S., Raul Martynek, the CEO of DataBank, a company that contracts with tech giants to construct data centers, told Fortune.

In November, Bank of Americaestimated global hyperscale spending is rising 67% in 2025 and another 31% in 2026, totaling a massive $611 billion investment for the AI buildout in just two years.

Given the high demand, construction workers are experiencing a pay bump for data center projects.

Construction projects generally operate on tight margins, with clients being very cost-conscious, Fraser Patterson, CEO of Skillit, an AI-powered hiring platform for construction workers, told Fortune.

But some of the top 50 contractors by size in the country have seen their revenue double in a 12-month period based on data center construction, which is allowing them to pay their workers more, according to Patterson.

“Because of the huge demand and the nature of this construction work, which is fueling the arms race of AI… the budgets are not as tight,” he said. “I would say they’re a little more frothy.”

On Skillit, the average salary for construction projects that aren’t building data centers is $62,000, or $29.80 an hour, Patterson said. The workers that use the platform comprise 40 different trades and have a wide range of experience from heavy equipment operators to electricians, with eight years as the average years of experience.

But when it comes to data centers, the same workers make an average salary of $81,800 or $39.33 per hour, Patterson said, increasing salaries by just under 32% on average.

Some construction workers are even hitting the six-figure mark after their salaries rose for data center projects, according to The Wall Street Journal. And the data center boom doesn’t show any signs it’s slowing down anytime soon.

Tech companies like Google, Amazon, and Microsoft operate 522 data centers and are developing 411 more, according to The Wall Street Journal, citing data from Synergy Research Group. 

Patterson said construction workers are being paid more to work on building data centers in part due to condensed project timelines, which require complex coordination or machinery and skilled labor.

Projects that would usually take a couple of years to finish are being completed—in some instances—as quickly as six months, he said.

It is unclear how long the data center boom might last, but Patterson said it has in part convinced a growing number of Gen Z workers and recent college grads to choose construction trades as their career path.

“AI is creating a lot of job anxiety around knowledge workers,” Patterson said. “Construction work is, by definition, very hard to automate.”

“I think you’re starting to see a change in the labor market,” he added.



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Netflix cofounder started his career selling vacuums door-to-door before college—now, his $440 billion streaming giant is buying Warner Bros. and HBO

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December 5, 2025

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Reed Hastings may soon pull off one of the biggest deals in entertainment history. On Thursday, Netflix announced plans to acquire Warner Bros.—home to franchises like Dune, Harry Potter, and DC Universe, along with streamer HBO Max—in a total enterprise value deal of $83 billion. The move is set to cement Netflix as a media juggernaut that now rivals the legacy Hollywood giants it once disrupted.

It’s a remarkable trajectory for Netflix’s cofounder, Hastings—a self-made billionaire who found a love for business starting as a teenage door-to-door salesperson.

“I took a year off between high school and college and sold Rainbow vacuum cleaners door to door,” Hastings recalled to The New York Timesin 2006. “I started it as a summer job and found I liked it. As a sales pitch, I cleaned the carpet with the vacuum the customer had and then cleaned it with the Rainbow.”

That scrappy sales job was the first exposure to how to properly read customers—an instinct that would later shape Netflix’s user-obsessed culture. After graduating from Bowdoin College in 1983, Hastings considered joining the Marine Corps but ultimately joined the Peace Corps, teaching math in Eswatini for two years. When he returned to the U.S., he obtained a master’s in computer science from Stanford and began his career in tech.

The idea for Netflix reportedly came a few years later in the late 1990s. After misplacing a VHS copy of Apollo 13 and getting hit with a $40 late fee at Blockbuster, Hastings began exploring a mail-order rental service. While it’s an origin story that has since been debated, it marked the start of a company that would reshape global entertainment.

Hastings stepped back as CEO in 2023 and now serves as Netflix’s chairman of the board. He has amassed a net worth of about $5.6 billion. He’d be even richer if he didn’t keep offloading his shares in the company and making record-breaking charitable donations.

Netflix’s secret for success: finding the right people

Hastings has long said that one of the biggest drivers of Netflix’s success is its focus on hiring and keeping exceptional talent.

“If you’re going to win the championship, you got to have incredible talent in every position. And that’s how we think about it,” he told CNBC in 2020. “We encourage people to focus on who of your employees would you fight hard to keep if they were going to another company? And those are the ones we want to hold onto.”

To secure top performers, Hastings said he was more than willing to pay for above-market rates. 

“With a fixed amount of money for salaries and a project I needed to complete, I had a choice: Hire 10 to 25 average engineers, or hire one ‘rock-star’ and pay significantly more than what I’d pay the others, if necessary,” Hastings wrote. “Over the years, I’ve come to see that the best programmer doesn’t add 10 times the value. He or she adds more like a 100 times.”

That mindset also guided Netflix’s leadership transition. When Hastings stepped back from the C-suite, the company didn’t pick a single successor—it picked two. Greg Peters joined Ted Sarandos as co-CEO in 2023.

“It’s a high-performance technique,” Hastings said, speaking about the co-CEO model. “It’s not for most situations and most companies. But if you’ve got two people that work really well together and complement and extend and trust each other, then it’s worth doing.”

Netflix’s stock has soared more than 80,000% since its IPO in 2002, adjusting for stock splits.

Netflix brought unlimited PTO into the mainstream

Netflix’s flexible workplace culture has also played a key role in its success, with Hastings often known for prioritizing time off to recharge. 

“I take a lot of vacation, and I’m hoping that certainly sets an example,” the former CEO said in 2015. “It is helpful. You often do your best thinking when you’re off hiking in some mountain or something. You get a different perspective on things.”

The company was one of the first to introduce unlimited PTO, a policy that many firms have since adopted. About 57% of retail investors have said it could improve overall company performance, according to a survey by Bloomberg. Critics have argued that such policies can backfire when employees feel guilty taking time off, but Hastings has maintained that freedom is core to Netflix’s identity. 

“We are fundamentally dedicated to employee freedom because that makes us more flexible, and we’ve had to adapt so much back from DVD by mail to leading streaming today,” Hastings said. “If you give employees freedom you’ve got a better chance at that success.”

Netflix’s other cofounder, Marc Randolph, embraced a similar philosophy of valuing work-life balance.

“For over thirty years, I had a hard cut-off on Tuesdays. Rain or shine, I left at exactly 5 p.m. and spent the evening with my best friend. We would go to a movie, have dinner, or just go window-shopping downtown together,” Randolph wrote in a LinkedIn post.

“Those Tuesday nights kept me sane. And they put the rest of my work in perspective.”



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‘This species is recovering’: Jaguar spotted in Arizona, far from Central and South American core

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December 5, 2025

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The spots gave it away. Just like a human fingerprint, the rosette pattern on each jaguar is unique so researchers knew they had a new animal on their hands after reviewing images captured by a remote camera in southern Arizona.

The University of Arizona Wild Cat Research and Conservation Center says it’s the fifth big cat over the last 15 years to be spotted in the area after crossing the U.S.-Mexico border. The animal was captured by the camera as it visited a watering hole in November, its distinctive spots setting it apart from previous sightings.

“We’re very excited. It signifies this edge population of jaguars continues to come here because they’re finding what they need,” Susan Malusa, director of the center’s jaguar and ocelot project, said during an interview Thursday.

The team is now working to collect scat samples to conduct genetic analysis and determine the sex and other details about the new jaguar, including what it likes to eat. The menu can include everything from skunks and javelina to small deer.

As an indicator species, Malusa said the continued presence of big cats in the region suggests a healthy landscape but that climate change and border barriers can threaten migratory corridors. She explained that warming temperatures and significant drought increase the urgency to ensure connectivity for jaguars with their historic range in Arizona.

More than 99% of the jaguar’s range is found in Central and South America, and the few male jaguars that have been spotted in the U.S. are believed to have dispersed from core populations in Mexico, according to the U.S. Fish and Wildlife Service. Officials have said that jaguar breeding in the U.S. has not been documented in more than 100 years.

Federal biologists have listed primary threats to the endangered species as habitat loss and fragmentation along with the animals being targeted for trophies and illegal trade.

The Fish and Wildlife Service issued a final rule in 2024, revising the habitat set aside for jaguars in response to a legal challenge. The area was reduced to about 1,000 square miles (2,590 square kilometers) in Arizona’s Pima, Santa Cruz and Cochise counties.

Recent detection data supports findings that a jaguar appears every few years, Malusa said, with movement often tied to the availability of water. When food and water are plentiful, there’s less movement.

In the case of Jaguar #5, she said it was remarkable that the cat kept returning to the area over a 10-day period. Otherwise, she described the animals as quite elusive.

“That’s the message — that this species is recovering,” Malusa said. “We want people to know that and that we still do have a chance to get it right and keep these corridors open.”



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