The round was led by Kleiner Perkins, known for investments in Amazon, Genentech, and Google, with participation from SV Angel, Premji, General Catalyst, a16z, NVIDIA, Universal Health Services, and WellSpan Health.
Hippocratic AI develops safety-focused large language models (LLMs) tailored for nondiagnostic healthcare tasks. These include medication onboarding, monthly reconciliation, answering hospital and payor policy questions, and assisting with electronic health records (EHRs).
The company also unveiled the Healthcare AI Agent App Store, which empowers clinicians to co-develop AI agents for specific patient conditions and workflow optimization. According to Hippocratic AI, the tool allows licensed clinicians to create customized AI solutions in under 30 minutes. Each agent undergoes safety testing by both its creator and the company’s staff.
“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,” said Munjal Shah, cofounder and CEO of Hippocratic AI.
The newly raised funds will fuel Hippocratic AI’s expansion into pharmaceutical and payor markets and extend its reach to EMEA, Latin America, and Southeast Asia.
Since its launch in May 2023, Hippocratic AI has raised significant capital: US$50 million in seed funding co-led by Andreessen Horowitz and General Catalyst, with an additional US$15 million added two months later. It followed with an oversubscribed US$53 million Series A round, later adding US$17 million, bringing its valuation to US$500 million.
The company has also made strides in healthcare innovation by creating nurse and physician advisory councils to guide safe LLM development, partnering with Adtalem Global Education to train clinicians in AI, and securing its first US patent for a safety-focused LLM architecture called Polaris.
Hippocratic AI’s rapid growth reflects the increasing demand for safe, effective AI solutions in healthcare, with its collaborative approach positioning it as a leader in the space.
