Hippocratic AI, has completed its Series B financing round, raising $141m to broaden its reach to new verticals, including the pharmaceutical and payors, and market expansion.
The capital will also be utilised by the company to penetrate into new markets in EMEA, Southeast Asia, and Latin America.
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The Series B financing, which brings the company’s valuation to $1.64bn, concluded just nine months after the Series A and was spearheaded by Kleiner Perkins.
Existing investors General Catalyst, A16z, Premji, NVIDIA, Universal Health Services, SV Angel, and WellSpan Health, joined Kleiner and invested at or above their pro-rata share.
Hippocratic AI co-founder and CEO Munjal Shah said: “We raised our Series A with the support of Premji and NVIDIA; released our Polaris 2.0 architecture; expanded our nurse, physician, and industry advisory councils; received our first US patent; achieved safety parity of our AI agents with human clinicians; signed contracts with 23 health systems, payors, and pharma clients in just 23 weeks; launched 16 of those clients; and received a positive reception from patients.
“This round of financing will accelerate the development and deployment of the Hippocratic GenAI-driven super staffing and continue our quest to make healthcare abundance a reality.”
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By GlobalDataHippocratic AI has recently implemented its GenAI agents across various healthcare organisations, including Arkos Health, Cincinnati Children’s, Belong Health, Fraser Health in Canada, Nsight Health, OhioHealth, VNS Health, GuideHealth, Honor Health, Ideal Dental, UHS, and WellSpan Health.
In a significant move, Hippocratic AI has launched its AI Agent App Store, which allows licensed clinicians to collaborate with the company in designing AI agents tailored to specific use cases.
Clinicians can also earn revenue from the usage of these AI agents by customers.
The company has worked closely with founding health systems like UHS, Honor Health, WellSpan Health, Cincinnati Children’s, OhioHealth, and Memorial Hermann, ensuring that their product would be as safe as a human nurse before launching.
Earlier this year, Hippocratic AI reached this milestone with the introduction of its Polaris 2.0 product, which increased the model’s intelligence parameters from 1.1 trillion to 3.7 trillion.
