Editor’s Note: This roundup is meant to highlight some of the most notable funding rounds of the month and is not intended to be comprehensive.
Health tech companies made several major funding announcements in July, and those focused on AI raked in the big bucks. Here is a list of some of the biggest funding rounds.
Ambience Healthcare raises $243 million in Series C funding
San Francisco-based Ambience Healthcare is a startup providing an AI-powered platform for documentation, coding and clinical workflow. It supports more than 100 ambulatory specialties, emergency departments and inpatient specialties. Some of its customers include Cleveland Clinic, UCSF Health, Houston Methodist and Memorial Hermann.
Its $243 million Series C round was co-led by Oak HC/FT and Andreessen Horowitz (a16z), and included participation from the OpenAI Startup Fund, Kleiner Perkins, Optum Ventures, Frist Cressey Ventures, Town Hall Ventures, Smash Capital, Georgian and Founders Circle Capital. The company has gained unicorn status and now has a valuation of $1.25 billion.
The financing will help the company expand its AI platform and “accelerate the delivery of products that make administrative tasks invisible, data accurate by default, and care teams more effective everywhere,” according to the announcement.
Aidoc secures $150 million in funding
Aidoc is an Israeli clinical AI startup that aims to streamline radiologists’ workflows through its clinical decision support technology. Its platform monitors incoming patient data and uses AI to identify and measure critical indicators of conditions like stroke, pulmonary embolism, lesions and fractures.
The $150 million funding round was led by General Catalyst and Square Peg and included participation from Hartford HealthCare, Mercy, Sutter Health and WellSpan Health. In total, the company has raised $370 million.
The funding will support the development of CARE, Aidoc’s clinical-grade foundation model, the announcement stated.
OpenEvidence Rakes in $210 million in Series B funding
Cambridge, Massachusetts-based OpenEvidence offers a clinical decision support platform and medical search engine that’s used by more than 10,000 hospitals and medical centers. With the platform, clinicians can input clinical questions and patient case details and receive relevant medical knowledge and research to help them make informed decisions.
The $210 million Series B round was co-led by Google Ventures and Kleiner Perkins and included participation from Sequoia Capital, Coatue, Conviction and Thrive. The company has raised more than $300 million in total and has reached a valuation of $3.5 billion.
The funding will help “expand strategic content partnerships that enhance its library of advanced medical knowledge,” according to the announcement.
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