Hippocratic AI, a healthcare technology company developing safety-focused large generative AI language models for healthcare, announced it closed a $141 million Series B funding round, bringing its valuation to $1.64 billion.
The Series B funding round was led by Kleiner Perkins, with participation from existing investors, including: Andreessen Horowitz (aka a16z), General Catalyst, Premji, NVIDIA, SV Angel, Universal Health Services (UHS), and WellSpan Health.
Including the latest funding round, Hippocratic AI has raised $278 million in funding to date.
Hippocratic AI was founded in May 2023 with $50 million in seed funding round co-led by Andreessen Horowitz and General Catalyst. Last year, Hippocratic AI announced it closed a $53 million Series A funding round, bringing its valuation to $500 million. The Series A round 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).
Hippocratic AI offers generative AI solutions that focus on nondiagnostic healthcare tasks such as medication onboarding and monthly reconciliation, hospital and payor policy questions, and EHR assistance.
“Since the founding of Hippocratic AI, we have believed that the best way to build safe and effective AI is through close collaboration with those delivering care. Until now, this collaboration has primarily been with health systems and payors. Today, with the launch of our AI Agent App Store, we are also directly engaging licensed US clinicians to harness the power of AI. We truly believe that clinicians know best,” Munjal Shah, cofounder and CEO of Hippocratic AI, said in an official press statement.
Hippocratic AI said its Series B funds will be used to expand into new markets, such as pharma and the payor space, and new geographies, including EMEA, Latam, and Southeast Asia.
“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,” added Munjal Shah.