Hippocratic AI Raises $53M Series A Funding at $500M Valuation

Hippocratic AI Raises $53M Series A Funding at $500M Valuation FinSMEs

Hippocratic AI, a Palo Alto, CA-based company building a safety-focused Large Language Model (LLM) for healthcare, closed a $53m Series A funding round at a $500m valuation.

The round, which brought total funding to $120m, was co-led by Premji Invest and General Catalyst with participation from SV Angel and Memorial Hermann Health System as well as existing investors Andreessen Horowitz (a16z) Bio + Health, Cincinnati Children’s, WellSpan Health, and Universal Health Services (UHS).

Co-founded by CEO Munjal Shah, alongside a group of physicians, hospital administrators, healthcare professionals, and artificial intelligence researchers from El Camino Health, Johns Hopkins, Washington University in St. Louis, Stanford, Google, and Nvidia, Hippocratic AI is advancing a safe focused Large Language Model (LLM) for healthcare. The company also released its first product for phase three safety testing: a staffing marketplace for healthcare where health systems, payors, and others can “hire” generative AI agents that complete low-risk, non-diagnostic, patient-facing healthcare tasks to help solve the massive shortage of healthcare nurses, social workers, and nutritionists in the US and worldwide.

The capital will be used to help fund the safety tests and further develop the product.

FinSMEs

19/03/2024