Hippocratic AI Raises $53 Million Series A at a $500 Million Valuation

Company Releases First Product: Generative AI-Powered Staffing Marketplace for Healthcare and will use Funds to Accelerate Further Product Development and Conduct Phase Three Safety Testing for its LLM Hippocratic AI, the company building the first safety-focused Large Language Model (LLM) for healthcare, today announced the close of a $53 million Series A funding round at a $500 million valuation, bringing total funding to $120 million. Today, 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 new capital will be used to help fund these safety tests and further develop the product. The 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). The company was founded on the belief that Generative AI holds the potential to improve healthcare access, equity, and outcomes but that it has to be developed and deployed safely and responsibly. The round was significantly oversubscribed, allowing the company to select lead investors who were patie...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT a16z Andreessen Horowitz Bio Health Capsule Cincinnati Children’s ELNA Evernow Fraser Health General Catalyst Guidehealth HarmonyCares Health IT Funding Health IT Fundings Health IT Investmen Source Type: blogs