HiLabs, a provider of AI-powered solutions to the healthcare industry, announced $39 million in Series B funding. The round was led by Eight Roads Ventures and Denali Growth Partners, with participation from F-Prime Capital. This capital will support the company's continued enhancement of its technology, recruitment of top talent, and expansion of its product team.
Amit Garg, co-founder and CEO of HiLabs, said, “We are advancing AI technology to help healthcare organizations not only be clean, but also informed, based on data that is readily available when it matters most. We are ready to help you make decisions quickly.”
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Founded in 2014, HiLabs' mission is to provide payers, healthcare providers, and patients with timely access to clean data. This comes at a time when healthcare organizations around the world are transitioning to data-driven decision-making. HiLabs' cloud-based MCheck platform captures, cleans and enriches critical medical information. This significantly reduces operating costs for healthcare organizations and improves patient outcomes.
Ten years ago, co-founders Amit Garg and Dr. Neil Butala embarked on a journey to Yale University in the US with a small team of interns and two full-time employees based in India. Ta. Under Garg's leadership, his HiLabs with deep roots in India, the team has laid the foundation for a thriving network of AI and machine learning R&D hubs in Pune and Bangalore.
“We have been closely following Amit's (Garg) journey over the past few years. We have built both deep AI/ML talent,” he said. Dr. Prem Pavoor, Senior Partner, Head of India and Healthcare Investments, Eight Roads Ventures.
“While many are discussing the potential of AI, especially in the healthcare ecosystem, HiLabs is demonstrating real-world impact,” said Jesse Lane, founder and managing member of Denali Growth Partners. ” states.
Carl Byers, partner at F-Prime Capital, said HiLabs takes an AI-powered approach to data management. Byers said this not only fills a critical gap in the market, but also enables transformation among payers and providers. This includes leveraging real-time data to improve user experience, cost, and value.
