Medcast raises $5.4M for clinical AI, adds tech and sales headcount
Bowral-based medical edtech Medcast closed a $5.4 million capital raise to scale MedLuma, its AI-powered clinical knowledge platform for Australian GPs. Best Practice Software led the round, contributing between $1.5 million and $1.7 million depending on the report. The round was oversubscribed. A Series A is planned for 2027.
Medcast was founded in 2013 by Dr Stephen Barnett, a GP and medical educator. The company built its business on online clinical education for health professionals and now serves more than 100,000 registered clinicians. Headcount sits between 10 and 50 employees, with offices in Bowral and Sydney.
MedLuma launched earlier this year. The platform helps Australian GPs find clinical answers using local guidelines and medical sources, with citations linking back to original material. The pitch: reduce search time during patient consultations while keeping data onshore and evidence-based.
Best Practice's involvement matters. The company holds roughly 80% of the GP practice management software market in Australia, giving Medcast direct integration into primary care workflows. Best Practice CTO Jessica White joins the Medcast board as part of the deal.
Dr Barnett said the challenge is trust, not speed. "AI has enormous potential to improve healthcare by bringing the right information into the right context. But in clinical care, speed and convenience are not enough. Clinicians need information they can trust, grounded in evidence and Australian practice."
The funding will go toward hiring in tech and clinical teams, product development, and deeper integration with Best Practice's systems.
What this means for sales teams
Medcast is moving from edtech into clinical AI, a crowded space with players like Heidi, MBSPro, OpenEvidence, Doximity, and ChatGPT. The differentiator here is workflow integration and longitudinal patient context, not a standalone tool.
For medical device and healthcare tech sales professionals, this signals growing investment in AI-enabled clinical platforms targeting Australian primary care. Best Practice's 80% market share creates a strong channel for distribution, which changes the sales motion from cold outreach to embedded adoption.
Expect hiring in tech roles first, then clinical and potentially field sales as the product scales. No comp details disclosed yet. Series A in 2027 likely means headcount expansion in 2026.
Executive team: Dr Stephen Barnett (CEO), Paul Coe (CTO), Marc Villavicencio (COO), Justin Lewis (Chief Product Officer). Watch this one.