Healthcare startups leveraging artificial intelligence are experiencing significant fundraising success early in the year. Qventus, a New York-based AI healthcare automation software company, secured a $105 million investment led by KKR, with contributions from Bessemer Venture Partners, Northwestern Medicine, HonorHealth, and Allina Health. The funding round, consisting of $85 million in equity and $20 million in optional debt, values the company at $400 million. Qventus aims to address operational inefficiencies in healthcare settings using generative AI, machine learning, and behavioral science to predict challenges, recommend solutions, and automate workflows. Founded in 2012, Qventus has raised over $200 million to date.
Other healthcare AI startups have also raised substantial funds recently. Innovaccer, based in San Francisco, raised $275 million to enhance patient experience and reduce administrative burdens, with investors including B Capital and Kaiser Permanente. Meanwhile, Hippocratic AI from Palo Alto, which focuses on developing a safety-focused large language model for healthcare, raised $141 million in a Series B round led by Kleiner Perkins, valuing the company at $1.6 billion.
Key takeaways:
Healthcare startups using artificial intelligence are seeing significant fundraising success early in the year.
Qventus, a New York-based AI healthcare automation software company, raised $105 million led by KKR, with a valuation of $400 million.
Innovaccer, a San Francisco-based healthcare AI startup, raised $275 million to improve patient experience and reduce administrative burdens.
Hippocratic AI, based in Palo Alto, raised a $141 million Series B round, valuing the company at $1.6 billion, focusing on safety and accuracy in healthcare.
