Hippocratic AI, a leading generative AI company dedicated to developing safety-first large language models (LLMs) for healthcare, has raised $141 million in its Series B funding round, propelling its valuation to $1.64 billion. The round was led by Kleiner Perkins, with participation from existing investors such as SV Angel, Premji, General Catalyst, Andreessen Horowitz, NVIDIA, Universal Health Services, and WellSpan Health.
The Series B funding will be used to expand Hippocratic AI’s reach into new markets, including the pharmaceutical and payor sectors, and extend its footprint into regions such as EMEA, Latin America, and Southeast Asia. This milestone builds on the company’s impressive growth trajectory, which includes raising $137 million in prior rounds and achieving significant valuation milestones in just over a year.
Empowering Clinicians with AI Innovation
Coinciding with the funding announcement, Hippocratic AI unveiled its groundbreaking Healthcare AI Agent App Store, a platform enabling clinicians to collaborate in designing AI agents tailored to specific healthcare workflows. These agents can address tasks such as medication onboarding, policy queries, and electronic health record (EHR) assistance, significantly improving operational efficiency.
“Our mission has always been to create safe and effective AI solutions through collaboration with those on the frontlines of care,” said Munjal Shah, Co-founder and CEO of Hippocratic AI. “With the launch of the AI Agent App Store, we’re directly empowering clinicians to co-develop tools that address real-world challenges, enhancing patient care and safety.”
The AI agents, developed in under 30 minutes, undergo rigorous safety testing by both the clinicians who create them and Hippocratic AI’s experts. This initiative underscores the company’s commitment to safety, building on its history of forming advisory councils and pioneering LLM technology.
Market Impact and Recognition
Since its founding in 2023, Hippocratic AI has made significant strides in the healthcare AI landscape. It launched with $50 million in seed funding and quickly followed with additional investments, reflecting strong investor confidence. In 2022, the company closed a $53 million Series A round, boosting its valuation to $500 million, and later added $17 million in funding.
Hippocratic AI has been at the forefront of healthcare innovation, including launching a nurse advisory council to complement its physician advisory council and collaborating with Adtalem Global Education to develop an academic curriculum for AI training in healthcare. The company’s focus on safety and innovation is further underscored by its patented constellation architecture, Polaris, which powers its LLMs.
Looking Ahead
With its Series B funding and the introduction of the Healthcare AI Agent App Store, Hippocratic AI is poised to reshape healthcare workflows, enhance safety standards, and drive global adoption of AI in medicine.
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