Hippocratic AI, a pioneering company based in California, has successfully secured $53 million in a Series A funding round aimed at developing advanced large language models specifically for the healthcare sector. This investment boosts the company's valuation to an impressive $520 million. Founded by a diverse team of physicians, hospital administrators, Medicare experts, and AI researchers, Hippocratic AI emerged from stealth mode in May and has since raised a total of $120 million.
The funding round was co-led by Premji Invest and General Catalyst, with contributions from SV Angel, Memorial Hermann Health System, and existing investors including Andreessen Horowitz, Cincinnati Children’s Hospital, WellSpan Health, and Universal Health Services.
Hippocratic AI’s flagship large language model is engineered to deliver vital information to patients and can interpret inquiries through voice recognition. According to the startup, its proprietary model architecture, named Polaris, houses an impressive 1 trillion parameters. This design makes it profoundly robust while ensuring a level of specialization that distinguishes it from more generalized systems, such as OpenAI’s ChatGPT.
Prioritizing safety, Hippocratic AI has meticulously conducted multiple safety tests to cultivate trust in its product. The recent funding will support ongoing safety evaluations and further development of their offerings. "Our commitment to rigorous safety testing in various phases, coupled with a transparent publication of results, represents a critical step in our safety-first approach," stated Munjal Shah, co-founder and CEO of Hippocratic AI.
Moreover, Hippocratic AI has announced the initiation of phase three testing for its first product, a staffing marketplace. This innovative platform allows healthcare providers to “hire” generative AI agents to perform patient-facing services, addressing the growing staffing shortages in the healthcare industry. The AI agents are capable of conducting post-discharge follow-ups and pre-operation outreach, although they will not interact with patients independently until the completion of the latest safety evaluations. This AI model is specifically designed to collaborate with human healthcare staff when necessary.
Phase three testing will engage a substantial group, consisting of 5,000 licensed nurses, 500 licensed physicians, and various health system partners. Initial results from earlier trials highlighted that 88.93% of patients felt comfortable confiding in the AI, closely paralleling the 88.81% comfort level expressed for human nurses. Additionally, 85.66% of patients deemed the AI's effectiveness comparable to that of a human nurse, while an impressive 89.82% appreciated its proactive stance in educating them about their health conditions.
In summary, Hippocratic AI is at the forefront of revolutionizing patient interactions in healthcare through advanced AI technology, dedicated to fostering trust and transparency while addressing critical industry challenges.
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