Hippocratic AI's AI solution focuses on non-diagnostic healthcare tasks such as medication onboarding, monthly reconciliation, and hospital and payor policy questions. The goal is to reduce healthcare system costs and address shortages in nursing, social work, and nutrition. The new capital will fund phase three safety testing and further product development. The company, founded by Munjal Shah, has established partnerships with 40 health systems, payors, and digital health companies and has grown rapidly due to its focus on safety and sound strategy.
Key takeaways:
- Hippocratic AI, a safety-focused large language model company, has closed a $53 million Series A funding round, bringing its total raise to $120 million and its valuation to $500 million.
- The funding round was co-led by General Catalyst and Premji Invest, with participation from several other investors including Andreessen Horowitz, Memorial Hermann Health System, and SV Angel.
- The company has also announced the release of its first product, a digital staffing marketplace where health systems can hire generative AI assistants for low-risk, non-diagnostic, patient-facing tasks.
- Hippocratic AI's solution aims to reduce healthcare system costs and address shortages in nursing, social work, and nutrition. The new capital will be used for phase three safety testing and further product development.