More than a quarter of the money flowing into health IT in the second quarter of 2023 went to companies specializing in generative artificial intelligence, PitchBook reported.
This bucked a trend of health IT investors increasingly prioritizing companies with a quick path to profitability, as four of the top 10 early-stage venture capital deals in Q2 went to generative AI startups, according to the Sept. 12 report.
Here are the top six generative AI deals so far in 2023, per PitchBook:
1. Healthcare large language model Hippocratic AI landed $50 million in seed funding May 16 led by General Catalyst and Andreessen Horowitz.
2. Conversational AI startup Hyro secured $20 million in series B funding May 31 led by Black Opal Ventures, Liberty Mutual Strategic Ventures and Macquarie Capital.
3. Revenue cycle management automator Outbound raised $16 million in seed funding June 21 led by Madrona Venture Group and SpringRock Ventures.
4. Hippocratic AI garnered another $15 million in seed funding July 25 led by Cincinnati Children's Hospital and Scottsdale, Ariz.-based HonorHealth.
5. Clinical decision support startup GenHealth.ai received $13 million in seed funding June 9 led by Craft Ventures and Honest Ventures.
6. Patient engagement platform Gyant got $8.6 million in series A2 funding May 23 led by Wing Venture Capital.