Hippocratic AI funding: Every round, investor, and valuation (2026)

Hippocratic AI builds AI agents that talk to patients. They call people after a hospital discharge, remind them about screenings, check on chronic conditions, and handle the routine follow-up work that nurses and care coordinators rarely have time for. The agents run on Polaris, the company's own family of healthcare language models, and they are limited to non-diagnostic tasks.

Hippocratic AI has raised $444 million across six announced rounds since it came out of stealth in May 2023, all of it equity. Its latest, a Series C led by Avenir Growth in November 2025, valued the company at $3.5 billion.

The investor list is unusual for an AI company. Next to venture firms such as General Catalyst, Andreessen Horowitz, and Kleiner Perkins sit hospital operators that buy the product, plus Nvidia and Google's growth fund. Let's dive into Hippocratic AI's funding history.

Hippocratic AI raised its first $50 million before it had a product and its first billion-dollar valuation about 20 months after launch. Each round since has been led by a different firm, while the earlier backers kept coming back.

Hippocratic AI launched in May 2023 with a seed round co-led by General Catalyst and Andreessen Horowitz. General Catalyst says it co-created the company. Co-founder and CEO Munjal Shah had worked with Andreessen Horowitz partner Julie Yoo at his previous company, Health IQ, a Medicare insurance startup.

The pitch at launch was a language model built only for healthcare, with safety as the selling point. The company said its model had passed more than 100 healthcare certification exams and that it would start with patient-facing tasks that involve no diagnosis.

Two months later, Hippocratic AI extended the seed and opened a Founding Partner Program. Health systems and digital health companies such as Cincinnati Children's, Universal Health Services (UHS), and HonorHealth agreed to help design use cases, test the agents for safety, and sit on governance committees. Several of them later became shareholders.

The Series A in March 2024 paid for safety testing. Premji Invest and General Catalyst co-led it, and Memorial Hermann joined the health systems already on the cap table.

The money went into an unusual testing program. In the first phases, 1,002 licensed nurses and 130 physicians posed as patients and talked to the agents, and the company published how often the AI gave correct advice compared with human nurses. The next phase called for 5,000 nurses and 500 physicians.

In September 2024, Nvidia's venture arm, NVentures, joined Greycroft in an add-on to the Series A. The two companies were already working together on what Hippocratic calls "empathy inference," low-latency voice responses that let a patient hold a natural conversation with the agent.

Kleiner Perkins led the Series B in January 2025, about seven months after its first product went live with customers. Every existing investor in the round put in at least its pro rata share, the amount needed to keep its stake from shrinking.

Avenir Growth led the Series C ten months later and brought in CapitalG, Alphabet's growth fund. By then the company counted more than 50 health systems, payers, and pharma clients in six countries, and its agents had completed more than 115 million patient interactions.

The company's own figures show one more step. Its releases put total funding at $404 million through May 2026 and at $444 million in August 2026. Hippocratic AI has not announced the extra money, its investors, or its terms.

Hippocratic AI's valuation rose sevenfold in under two years. Each step came with a new lead investor and a longer customer list.

The Series B priced the company at 3.3 times the Series A, and the Series C roughly doubled that again. Both rounds closed about ten months after the one before. The company reported each figure as its valuation without saying whether it was pre-money or post-money.

That pace fits a wider pattern, as generative AI startups now reach unicorn status in months rather than years. The gap between price and capital is wide: at the Series C, Hippocratic AI was valued at more than eight times the money it had raised.

There is no published revenue figure to set against the $3.5 billion. Andreessen Horowitz has called Hippocratic AI one of the fastest-growing enterprise healthcare companies it has seen, but the company does not disclose sales. For comparison, Decagon's AI agent funding reached a slightly higher valuation in customer service, a market with far less regulation.

Hippocratic AI's investors fall into three groups: healthcare venture firms that founded and funded it, growth investors that led the larger rounds, and strategic backers that either supply its technology or buy its product.

General Catalyst co-led the seed and the Series A and has joined every round since. CEO Hemant Taneja calls Hippocratic AI an example of the firm's "Health Assurance" thesis, a push to make care more proactive and affordable.

The firm now owns a health system too. In 2026, Summa Health, the Ohio hospital group General Catalyst acquired, picked Hippocratic AI as one of its first technology vendors, which puts the investor on both sides of the contract.

Andreessen Horowitz co-led the seed through its Bio + Health fund, led by general partner Julie Yoo. It has returned in every round. Yoo's relationship with Shah goes back to his earlier company, which made the firm one of the founding backers rather than a later buyer.

Kleiner Perkins led the Series B. Partner Mamoon Hamid argued that AI agents could address a market about ten times the size of healthcare software, because they compete for staffing budgets rather than IT budgets.

Avenir Growth, co-founded by Andrew Sugrue, led the Series C after speaking with a large number of Hippocratic AI customers. Premji Invest, the fund backed by Wipro founder Azim Premji's family office, co-led the Series A and returned in both later rounds.

Nvidia joined as a technology partner before it became a shareholder. Its NVentures fund invested in 2024, and Nvidia took part in the Series B. For Nvidia, a healthcare agent company running its own large models is a customer for the chips behind Nvidia's data center business.

CapitalG, the growth fund funded by Alphabet, entered in the Series C. Google is also listed as an engineering partner. CapitalG invests money that comes from Google's ad and cloud profits, which gives Hippocratic AI a second big tech backer next to Nvidia.

The most distinctive part of the cap table is the hospitals. UHS, WellSpan Health, Cincinnati Children's, and Memorial Hermann all invested, and all of them use the agents. WellSpan expanded its relationship in July 2026 into a multi-year co-development deal, and its agent, called Ana, handles more than 160,000 calls a month.

The arrangement gives Hippocratic AI reference customers and clinical feedback, and it gives the hospitals a say in how the product is built. It also means some of the company's revenue comes from its own shareholders.

SV Angel joined in the Series A and Series B. Greycroft and Lee Shapiro, a former Allscripts president and managing partner at 7wireVentures, came in with NVentures in 2024. Kleiner Perkins chairman John Doerr and Rick Klausner, a former director of the US National Cancer Institute, invested personally in the Series C.

Hippocratic AI spends its funding on four things: its models, safety testing, deployments, and acquisitions. Each round announcement has named one of these as the priority.

Most of the engineering budget goes to Polaris, a "constellation" of models in which one large model talks to the patient and a set of smaller specialist models check its work for things like medication dosing and lab values. The version released in 2026, Polaris 5.0, has a 700-billion-parameter core model and more than 30 supervising models.

Hippocratic AI trains on its own Nvidia GPU clusters and runs part of its inference through DigitalOcean. The company has also built its own speech recognition, since a voice agent that mishears a drug name is a safety problem. This is a much smaller compute bill than the frontier labs carry, as OpenAI's $122 billion round shows, but it is still the largest technical cost.

Safety testing is both a cost and the core of the sales pitch. By August 2026, more than 7,700 licensed US clinicians had tested the agents across about 775,000 test calls, and the company reports zero safety issues in production.

That testing lets Hippocratic AI sell agents that hospitals would otherwise hesitate to put in front of patients. It now writes contracts in which it takes responsibility for its agents' performance.

The Series B was earmarked for new verticals and new regions. Insurers and pharma companies now sit alongside hospitals as customers, and the company works in the UAE, the UK, Japan, Singapore, Canada, and Israel. Shah has said the company is staying out of the European Union for now because of how the EU AI Act classifies healthcare AI.

The business model is close to selling labor. In 2024, Hippocratic AI listed its agents at about $9 an hour, against roughly $90 an hour for a nurse. In 2025 it opened an AI agent app store where licensed clinicians design agents and earn a share of the fees when customers use them.

The Series C was the first round to name acquisitions as a use of the money. In January 2026, Hippocratic AI bought Grove AI, a startup that builds AI agents for clinical trial recruitment, for an undisclosed price.

Grove became the base of a new life sciences division, which sells to drugmakers for trial enrollment and patient support. Shah has said the company will not use acquisitions to buy competitors.

Hippocratic AI's growth push is aimed at insurers and drugmakers as much as hospitals. In January 2026 it said it worked with nearly all of the ten largest US health insurers. The Grove deal gives it a direct line into pharma, a market where AI is already reshaping trials, as Unlearn's digital twin funding shows.

The product is moving from single agents to teams of them. In August 2026, the company launched Agentic Orchestrators, groups of agents that work toward a result such as fewer hospital readmissions rather than one task such as a reminder call. It has also launched Polaris 5.0 and a Nurse Co-Pilot tool, and says its agents have now completed more than 250 million patient interactions.

The company has no public IPO plans, and the 2026 money arrived without a new priced round. The main risks are regulatory and clinical: a single harmful call could set back a business built on a safety record, and the FDA has not settled how it will oversee AI agents that talk to patients. The next raise will likely depend on whether outcome-based contracts turn those interactions into revenue the company is willing to disclose.

Hippocratic AI has raised $444 million, according to the company's August 2026 figures. That includes six announced rounds from a $50 million seed in 2023 to a $126 million Series C in November 2025, plus about $40 million raised in 2026 without an announcement. The company has not reported any debt.

Hippocratic AI's lead investors are General Catalyst, Andreessen Horowitz, Kleiner Perkins, Avenir Growth, and Premji Invest. Other backers include Nvidia's NVentures, Google's CapitalG, SV Angel, Greycroft, John Doerr, Rick Klausner, and health systems including Universal Health Services, WellSpan Health, Cincinnati Children's, and Memorial Hermann.

Hippocratic AI was valued at $3.5 billion in its November 2025 Series C. That is up from $1.64 billion in January 2025 and $500 million in March 2024. The company has not disclosed a valuation since.

No. Hippocratic AI is private and has not filed for an IPO. Its shares are not traded on any stock exchange.

Hippocratic AI is owned by its founders, employees, and investors. Co-founder Munjal Shah is CEO. The largest outside holders are likely General Catalyst and Andreessen Horowitz, which have invested in every round, along with the firms that led later rounds, though exact stakes are not public.