Hippocratic AI snags $126M, valuation soars to $3.5B

Hippocratic AI, a developer of generative AI agents for healthcare, closed a Series C funding round, raising $126 million at a $3.5 billion valuation. This brings the company's total funding to $404 million.

Hippocratic AI will use the new funds to expand customer deployments globally, continue investing in its Polaris Safety Constellation Architecture and product innovation, and pursue mergers and acquisitions.

The company provides patient-facing AI agents that perform various tasks, including appointment scheduling, patient intake history, social determinants of health screenings, chronic disease management and post-discharge outreach. The agents do not diagnose patients or prescribe medications.

Hippocratic AI prioritizes safety through its Polaris Safety Constellation Architecture, a healthcare LLM constellation in which multiple models "double-check the primary model to ensure accuracy and safety," the company notes. In addition to the Polaris architecture, the company performs output testing, offers human evaluation and escalation pathways and conducts cross-validation to ensure that models' real-world performance matches their simulated testing.

"What this capital allows us to do is touch more lives and help more people while staying true to our core values of 'do no harm' and 'patients first,'" said Munjal Shah, co-founder and CEO of Hippocratic AI, in the press release. "We truly believe that Generative AI agents can help bring in an era of abundance to healthcare never seen before."

Avenir Growth led the funding round with participation from new and existing investors, including Google's growth fund CapitalG, General Catalyst, Universal Health Services and Cincinnati Children’s Hospital Medical Center.

Founded in 2023, the company has partnered with more than 50 health systems, payers and pharmaceutical firms across six countries, such as Cleveland Clinic, Northwestern Medicine, Moffitt Cancer Center, University Hospitals and Guy's & St Thomas' NHS Trust.

"Hippocratic AI's focus on safety and scale mirrors our mission to support the care team in providing the highest quality pediatric care to every child who needs it," said Oliver Rhine, chief strategy officer and president of Cincinnati Children's Global, in the press release. "The AI agents open up new opportunities to support families with warmth and precision, whether in scheduling, chronic condition management, or daily guidance."

Anuja Vaidya has covered the healthcare industry since 2012. She currently covers the virtual healthcare landscape, including telehealth, remote patient monitoring and digital therapeutics.