Hippocratic AI Completes $141MM Series B Financing Round Led by Kleiner Perkins, Valuing the Company at $1.64B

January 09, 2025 at 11:24 AM EST

Strong customer traction, positive patient response, a recently granted patent, and achieving clinical safety drive company expansion

Hippocratic AI, the company that pioneered the first healthcare LLM for patient-facing non-diagnostic clinical tasks, today announced that the company completed its series B financing round only nine months after its series A. The series B raised $141MM, valuing the company at $1.64B. The round was led by Kleiner Perkins, the venerated VC firm that backed Google, Amazon, and Genentech. Kleiner was joined by existing investors: A16z, General Catalyst, Premji, NVIDIA, SV Angel, Universal Health Services (UHS), and WellSpan Health, which all participated at or above pro-rata.

The company took the opportunity to take on additional capital to further its mission to provide healthcare abundance and improve patient outcomes in the world through its safety-focused Polaris constellation LLM architecture. The new capital will be used to expand the company to more verticals (pharma, payors) and new markets (EMEA, Southeast Asia, Latam).

"The last nine months have been a very productive period at the company. We raised our Series A with the support of Premji and NVIDIA; released our Polaris 2.0 architecture; expanded our nurse, physician, and industry advisory councils; received our first US patent; achieved safety parity of our AI agents with human clinicians; signed contracts with 23 health systems, payors, and pharma clients in just 23 weeks; launched 16 of those clients; and received a positive reception from patients,” said Munjal Shah, co-founder and CEO of Hippocratic AI. "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."

In the last few months, the company has gone live with Arkos Health, Belong Health, Cincinnati Children’s, Fraser Health (Canada), GuideHealth, Honor Health, Ideal Dental, Nsight Health, OhioHealth, VNS Health, UHS, WellSpan Health, and more. Hippocratic AI GenAI agents have completed hundreds of thousands of calls to patients of these healthcare organizations. Patient response has been outstanding, giving their GenAI agent interactions an average rating of 8.7 out of 10.

“While we had been tracking Hippocratic AI because of its focus on safety and unique constellation LLM architecture, the company's incredible commercial traction is a clear signal that they are winning a new category,” said Mamoon Hamid, Partner, Kleiner Perkins. “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.”

From the founding of the company, Hippocratic AI has always believed that building a safe and effective LLM requires close collaboration with healthcare organizations. Hence, the company partnered with founding health systems such as UHS, Honor Health, WellSpan Health, Cincinnati Children's, OhioHealth, and Memorial Hermann and agreed not to launch until the product was as safe as a human nurse. This milestone was finally achieved earlier this year with the launch of its Polaris 2.0 product which increased the number of parameters (intelligence) of the model from 1.1 trillion parameters to 3.7 trillion parameters.

Today, the company is also announcing the launch of its AI Agent App Store where licensed clinicians can collaborate with Hippocratic AI to design and shape AI agents based on use cases they develop and earn revenue from their use by customers.

About Hippocratic AI

Hippocratic AI has developed a safety-focused Large Language Model (LLM) for healthcare. The company believes that a safe LLM can dramatically improve healthcare accessibility and health outcomes in the world by bringing deep healthcare expertise to every human. No other technology has the potential to have this level of global impact on health. The company was co-founded by CEO Munjal Shah, alongside a group of physicians, hospital administrators, healthcare professionals, and artificial intelligence researchers from El Camino Health, Johns Hopkins, Stanford, Microsoft, Google, and NVIDIA. Hippocratic AI has received a total of $278 million in funding and is backed by leading investors, including Andreessen Horowitz, General Catalyst, Kleiner Perkins, NVIDIA’s NVentures, Premji Invest, SV Angel, and six health systems. For more information on Hippocratic AI, www.HippocraticAI.com.