Cornerstone AI, a San Francisco, CA-based provider of AI software solutions that streamlines the cleaning of healthcare data, has secured $5 million in funding, bringing its total raised to $10 million.
Investors
The funding round was led by Acrew Capital and included participation from Initiate Ventures, Healthy Ventures, and prominent industry figures such as Travis May, Web Sun, and Arif Nathoo.
Founded in 2019, Acrew Capital is a venture capital investment firm based in Palo Alto, California. The firm invests in transformative companies and diversifies the cap tables of leading growth companies, focusing on financial services, cybersecurity, data, augmented reality, virtual reality, Web 3.0, and cryptocurrency sectors.
Acrew Founding Partner Vishal Lugani will join Cornerstone AI's board of directors.
Cornerstone AI Use of Funds
With the new capital, the company aims to enhance its data processing solutions.
About Cornerstone AI
Cornerstone AI specializes in developing advanced AI software solutions designed to improve the efficiency and accuracy of healthcare data management. The company primarily focuses on cleaning, preparing, and analyzing real-world healthcare data. Cornerstone's solution learns dataset structures and relationships, creates models for each data point, identifies corrections for inconsistencies, fills in missing data, and exports clean data with a complete audit trail.
Viraj Narayanan will become CEO to guide Cornerstone's next growth phase, while Founder Michael Elashoff will transition to Chief Science Officer, focusing on developing the company's AI algorithms and software.
Funding Details
Company: Cornerstone AI
Raised: $5.0M
Round: Undisclosed
Funding Date: October 2024
Lead Investor: Acrew Capital
Additional Investors: Initiate Ventures, Healthy Ventures, Travis May, Web Sun, Arif Nathoo
Company Website: https://www.cornerstone.ai/
Software Category: Healthcare Data Management
Source: https://www.prweb.com/releases/cornerstone-ai-adds-another-5-million-to-empower-biopharma-and-healthcare-companies-to-get-more-from-their-data-302291205.html