Healthcare AI Innovator Hippocratic AI Raises $141M In Series B, Reaching Unicorn Status

The California-based startup Hippocratic AI recently raised $141 million in a Series B round led by Kleiner Perkins, reaching a valuation of $1.64 billion, earning unicorn status.

The healthcare company, founded in 2023, develops Large Language Models (LLMs) tailored for patients and designed to provide AI solutions in the industry—including AI agents and specialized generative artificial intelligence models for patients and healthcare professionals, and healthcare companies.

With the new investment, the company plans to expand to new markets such as Latin America, Southeast Asia, Europe, the Middle East, and Africa. Hippocratic AI also aims to diversify and enter sectors like health insurance and pharmaceuticals.

“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,” said Munjal Shah, co-founder and CEO of Hippocratic AI in a press release.

The CEO also highlighted the company’s evolution and journey over the past nine months, during which they raised funds, released a new architecture, expanded advisory councils, and obtained their first U.S. patent. Hippocratic AI signed contracts with 23 new clients in the healthcare sector, launched 16 of those clients, received positive feedback and claims to have achieved safety parity between their AI agents and human clinicians.

According to TechCrunch, Healthcare AI also raised $53 million in a series A round in March and secured $17 million from Nvidia a few months later. With this new round, the health tech startup has achieved impressive growth in less than two years since its creation.

“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.”

Other startups in the healthcare industry have also developed innovative technologies with generative artificial intelligence models. The health fintech company PayZen secured $232 million last August to continue its growth including new AI-powered solutions, and the French startup Alan launched an AI assistant called Mo in November.