Hippocratic AI Secures $141M in Series B Funding to Transform Healthcare
Hippocratic AI, a pioneering company in the development of safety-focused Large Language Models (LLMs) for healthcare, has successfully completed its Series B financing round, securing $141 million in funding. This significant investment, led by the renowned venture capital firm Kleiner Perkins, values the company at $1.64 billion, marking a significant milestone in its journey to transform healthcare through AI.
The Series B round, which comes just nine months after the company’s Series A funding, demonstrates the rapid growth and potential of Hippocratic AI. The company’s mission to develop the safest LLM for healthcare has garnered support from leading investors, including Andreessen Horowitz, General Catalyst, Premji, NVIDIA, SV Angel, Universal Health Services (UHS), and WellSpan Health, all of whom participated in the funding round at or above their pro-rata levels.
Hippocratic AI’s core technology, the Polaris constellation LLM architecture, is designed to bring deep healthcare expertise to every human, aiming to dramatically improve healthcare accessibility and outcomes globally. The company’s focus on safety is underscored by its unique three-part approach, which includes a primary model trained on evidence-based content, a novel constellation architecture with multiple specialist support models to enhance medical accuracy and reduce hallucinations, and built-in guardrails that engage human supervisors when necessary.
The new capital will be used to expand the company’s reach into new verticals, such as pharmaceuticals and payors, and to enter new markets in Europe, the Middle East, Africa, Southeast Asia, and Latin America. This strategic expansion is aimed at addressing the global healthcare staffing shortages and improving patient care quality.
Munjal Shah, co-founder and CEO of Hippocratic AI, highlighted the company’s recent achievements, including the release of its Polaris 2.0 architecture, the expansion of its advisory councils, the receipt of its first US patent, and the signing of contracts with 23 health systems, payors, and pharma clients in just 23 weeks. The company has also launched 16 of these clients and received a positive reception from patients, with its GenAI agents conducting hundreds of thousands of patient calls and earning an average rating of 8.7 out of 10.
In addition to the funding news, Hippocratic AI unveiled its AI Agent App Store, a groundbreaking platform that allows licensed clinicians to collaborate with the company to design and shape AI agents based on specific medical needs and workflows. This user-friendly system enables healthcare professionals to create customized AI agents in under 30 minutes without coding experience, addressing a wide range of medical tasks from cervical cancer check-ins to postpartum mental health support, wound care, and diabetes screening. Each agent undergoes thorough safety and efficacy verification through a three-step process, ensuring that they meet the highest standards of medical AI.
Mamoon Hamid, Partner at Kleiner Perkins, emphasized the vast potential of Hippocratic AI, stating that the total addressable market for using generative AI to solve healthcare staffing shortages is likely 10 times the size of the healthcare software market alone. The company’s commitment to ethical AI development and deployment aligns with the future of medicine, where balancing innovation with responsibility is crucial to ensuring that medical AI serves patients’ and society’s best interests.
Hippocratic AI’s journey, from its founding in 2024 by a group of physicians, hospital administrators, healthcare professionals, and artificial intelligence researchers, to its current valuation of $1.64 billion, underscores the transformative potential of AI in healthcare. With its focus on safety, collaboration, and ethical development, the company is poised to make a significant impact on global healthcare accessibility and outcomes.
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