BeeKeeperAI, a San Francisco-based provider of zero-trust, collaboration software for the development and deployment of artificial intelligence (AI), today announced that it has raised $12.1 million in Series A funding.
The round was led by Sante Ventures, with participation from the Icahn School of Medicine at Mount Sinai, AIX Ventures, Continuum Health Ventures, TA Group Holdings, and UCSF.
The company will use the funds to expand the features of its EscrowAI platform as well as broaden commercial operations. EscrowAI is a cloud-based platform that allows healthcare organizations to securely collaborate on AI projects without compromising the privacy of their data.
The platform uses a variety of privacy-preserving technologies, including homomorphic encryption and federated learning, to ensure that data remains secure throughout the collaboration process.
“We are excited to announce this funding round, which will allow us to accelerate our mission of making AI more accessible and usable in healthcare,” said Michael Blum, CEO and co-founder of BeeKeeperAI. “With this funding, we will be able to expand our platform to support more data types and therapeutic areas, and we will also be able to grow our team and expand our commercial reach.”
BeeKeeperAI’s technology has the potential to revolutionize the way AI is developed and deployed in healthcare. By making it possible for healthcare organizations to collaborate on AI projects without compromising the privacy of their data, BeeKeeperAI is helping to break down the barriers that have prevented AI from being more widely adopted in healthcare.
“We are impressed by BeeKeeperAI’s innovative approach to privacy-preserving AI collaboration,” said Michael Leong, Managing Director at Sante Ventures. “The company’s platform has the potential to make AI more accessible to healthcare organizations, which could lead to significant improvements in patient care.”
The demand for AI in healthcare is growing rapidly. According to a recent report by Grand View Research, the global market for healthcare AI is expected to reach $6.6 billion by 2027. However, the adoption of AI in healthcare has been slow, due in part to concerns about data privacy. BeeKeeperAI’s platform addresses these concerns by providing a secure and confidential environment for AI collaboration.
This funding round is a significant validation of BeeKeeperAI’s technology and its potential to impact the healthcare industry. The company is well-positioned to capitalize on the growing demand for AI in healthcare, and this funding will help it to accelerate its growth and reach.
- BeeKeeperAI’s platform is currently being used by a number of healthcare organizations, including the University of California, San Francisco (UCSF), the Icahn School of Medicine at Mount Sinai, and the Cleveland Clinic.
- The company is planning to use the funds from this round to expand its platform to support more data types and therapeutic areas, as well as to grow its team and expand its commercial reach.
- BeeKeeperAI is a member of the Health Data for Better Care Coalition, a group of organizations that are working to accelerate the adoption of privacy-preserving AI in healthcare.
BeeKeeperAI is a San Francisco-based provider of zero-trust, collaboration software for the development and deployment of artificial intelligence (AI). The company’s platform, EscrowAI, allows healthcare organizations to securely collaborate on AI projects without compromising the privacy of their data. BeeKeeperAI was founded in 2021 by Michael Blum, Sudish Mogli, and Bob Rogers.
About Sante Ventures
Sante Ventures is a venture capital firm that invests in early-stage healthcare companies. The firm’s mission is to help build the next generation of healthcare innovators. Sante Ventures was founded in 2000 and is based in San Francisco.