Hippocratic AI, a Palo Alto, CA-based company that builds safety-focused Large Language Model (LLM) for healthcare, raised $53 million in Series A funding.
The funding round brings the company's valuation to $500 million, with total funding reaching $120 million. The company also unveiled its first product for phase three safety testing—a staffing marketplace for healthcare.
SaaS Investors
The round was co-led by Premji Invest and General Catalyst, with participation from SV Angel, Memorial Hermann Health System, and existing investors Andreessen Horowitz (a16z) Bio + Health, Cincinnati Children’s, WellSpan Health, and Universal Health Services (UHS).
General Catalyst is a venture capital firm supporting entrepreneurs who challenge the status quo, from seed to growth stage and beyond. With offices in San Francisco, Palo Alto, New York City, London, Berlin, and Boston, the firm has helped support the growth of businesses.
Premji Invest is a long-term partner, providing funding from inception to IPO and beyond. Its strategy spans Series A to pre-IPO stages, with a focus on both private and public markets. They offer strategic guidance and support in talent acquisition, business development, and investor relations.
Hippocratic Use of Funds
The capital will be utilized to conduct safety tests for the company's first product, a staffing marketplace for healthcare. Additionally, funds will support further product development.
About Hippocratic AI
Hippocratic AI’s mission is to develop the first safest focused Large Language Model (LLM) for healthcare. The company believes that a safe LLM can dramatically improve healthcare accessibility and health outcomes in the world by bringing deep healthcare expertise to every human. No other technology has the potential to have this level of global impact on health. The company was 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.
Funding Details
Company: Hippocratic AI
Raised: $53.0M
Round: Series A
Funding Month: March 2024
Lead Investors: Premji Invest, General Catalyst
Additional Investors: SV Angel, Memorial Hermann Health System, Andreessen Horowitz Bio + Health, Cincinnati Children’s, WellSpan Health, Universal Health Services
Company Website: https://www.hippocraticai.com/
Software Category: Healthcare
Source: https://www.globenewswire.com/news-release/2024/03/18/2848237/0/en/Hippocratic-AI-Raises-53-Million-Series-A-at-a-500-Million-Valuation.html