Hippocratic AI lands $141M in funding to supply health AI agents
Hippocratic AI lands $141M in funding to supply health AI agents
Main article
A California company landed a $141 million funding round to bolster its AI agent healthcare “super staffing” business.
Hippocratic AI announced the round on Jan. 9 and said the company is now valued at $1.64 billion. The current funding was led by Kleiner Perkins, a venture capital firm that has also backed Google, Amazon and Genentech.
“This round of financing will accelerate the development and deployment of the Hippocratic GenAI-driven super staffing and continue our quest to make healthcare abundance a reality,” Munjal Shah, co-founder and CEO of Hippocratic AI, said in a press release.
The company’s AI works with patients on behalf of clinicians. The AI handles patient-facing, nondiagnostic clinical tasks. The firm has posted an example of its AI agent online.
Hippocratic AI previously announced a $53 million funding round on March 18, 2024. The company said it has gone live with several health organizations in the past few months including Arkos Health, Cincinnati Children’s, Ideal Dental, OhioHealth and WellSpan Health. Its AI agents have completed hundreds of thousands of calls to patients, it said.
And the company’s commercial traction is a sign that this is a winning new category, Mamoon Hamid, partner at Kleiner Perkins, said in a press release.
“The total addressable market of using generative AI for solving healthcare staffing shortages is probably 10 times the size of the healthcare software market alone, and we’re excited to support the Hippocratic AI team on their journey,” Hamid said.
Hippocratic AI also announced on Jan. 9 that it launched its healthcare AI agent app store. It enables clinicians such as doctors and nurses to design and shape AI agents that address challenges in patient care and operational efficiency. The company said creating an AI agent takes less than 30 minutes and is followed by safety testing. Clinicians then share in the revenue that their agents generate when used by Hippocratic AI’s customers. Clinician creators will receive 5% of the base fee plus 70% of any premium rate set by the creator.
SIA categorizes Hippocratic AI in the “direct work engagement” category, which includes robots/robotic process automation.
Only seven direct work engagement firms included in SIA’s latest Venture Capital in the Workforce Solutions Ecosystem 2024 report have received venture capital funding since 2023, one of which was Hippocratic.