All the fundraising deals in the healthcare AI market (from Q1 2025 to Q1 2026)
Download our beautiful pitch about the healthcare AI market
In our healthcare AI market deck, you will find everything you need to understand the market
The healthcare AI market attracted over $3.9 billion in disclosed equity funding across five quarters, from Q1 2025 to Q1 2026.
In total, 40 rounds were publicly announced, spanning everything from AI drug discovery to patient-facing voice agents.
Deal activity remained steady throughout the period, though the nature of the rounds shifted noticeably from large pharma AI bets toward more operationally focused workflow tools.
And if you want to better understand this new industry, you can download our pitch covering the healthcare AI market.
In our healthcare AI market deck, we will give you useful market maps and grids
Summary table of the funding deals in the healthcare AI market (last 5 quarters)
We define the healthcare AI market as AI software and models used by healthcare providers, payers, life sciences companies, medtech firms, and public health bodies to improve clinical care, operations, and research.
We include clinical decision support, diagnostic and monitoring tools, hospital and clinic workflow and revenue cycle automation, payer analytics and claims tools, as well as AI used in pharma and biotech R&D, clinical trials, and connected medical devices.
We exclude general-purpose AI infrastructure, pure consumer wellness and fitness apps, and horizontal enterprise tools that are not purpose-built or primarily sold for healthcare use.
You can also read our detailed analysis to understand how funding activity in the healthcare AI market has evolved over the last few years.
Also, you should know that we have a dedicated page, updated weekly, with all the latest fundraising deals in the healthcare AI market.
| Name | What they do | Amount | Quarter | Source(s) |
|---|---|---|---|---|
| Hippocratic AI | Builds patient-facing AI agents for non-diagnostic clinical tasks at U.S. health systems. | $141M | Q1 2025 | Fierce Healthcare |
| Qventus | Automates hospital throughput, discharge, surgery, and scheduling with AI teammates. | $105M | Q1 2025 | TechCrunch |
| Quibim | Develops AI foundation models for medical imaging in oncology, neurology, and liver disease. | $50M | Q1 2025 | TechCrunch |
| Harrison.ai | Builds AI diagnostic software for radiology and pathology, with global expansion plans. | $112M | Q1 2025 | TechCrunch |
| Candid Health | Runs an autonomous AI platform that automates provider billing and revenue cycle workflows. | $52.5M | Q1 2025 | Candid Health |
| Daffodil Health | Uses AI and LLMs to help U.S. health plans bring claims repricing and payment integrity in-house. | $16.3M | Q1 2025 | Fierce Healthcare |
| Abridge | Converts clinician-patient conversations into clinical documentation and billing workflows using generative AI. | $250M | Q1 2025 | Business Wire |
| OpenEvidence | Offers an AI copilot and medical search tool for doctors at point of care in the U.S. | $75M | Q1 2025 | PR Newswire |
| elea | Builds voice-based AI workflow software for pathology labs, starting in Europe. | $4.35M | Q1 2025 | The SaaS News |
| Insilico Medicine | Uses generative AI to discover and develop drugs, operating globally across pharma R&D. | $110M | Q1 2025 | PR Newswire |
| Taxo | Builds a healthcare-specific AI reasoning engine to automate prior auth, intake, and billing in the U.S. | $5M | Q1 2025 | TechCrunch |
| Isomorphic Labs | Builds an AI-first drug design engine to discover medicines, based in the U.K. with global pharma focus. | $600M | Q1 2025 | Isomorphic Labs |
| Pathos AI | Uses multimodal AI to develop oncology drugs, with a global R&D focus. | $365M | Q2 2025 | Pathos AI |
| Autonomize AI | Builds agentic AI for regulated healthcare and life-sciences workflows in the U.S. | $28M | Q2 2025 | Autonomize AI |
| Mandolin | Automates specialty-drug access for infusion providers, pharmacies, and U.S. health systems. | $40M | Q3 2025 | Fierce Healthcare |
| OpenEvidence | Offers an AI copilot and medical search tool for doctors at point of care in the U.S. | $210M | Q3 2025 | OpenEvidence |
| Aidoc | Builds a clinical AI platform and healthcare foundation model used by U.S. health systems. | $150M | Q3 2025 | Aidoc |
| Ambience Healthcare | Sells ambient AI for clinical documentation, coding, and broader workflow support at U.S. health systems. | $243M | Q3 2025 | Ambience Healthcare |
| Hello Patient | Runs conversational AI over voice, text, and chat to automate patient access and communications in the U.S. | $22.5M | Q3 2025 | MedCity News |
| OpenHealth Technologies | Harmonizes fragmented lab data into structured, AI-ready formats, starting in Europe. | $3M | Q3 2025 | GoHub Ventures |
| AmplifyMD | Combines AI-driven virtual specialty-care software with a specialist network for U.S. hospitals. | $20M | Q3 2025 | AmplifyMD |
| Assort Health | Uses agentic AI voice agents to automate patient access, scheduling, and insurance verification in the U.S. | $76M | Q4 2025 | MobiHealthNews |
| Heidi Health | Builds AI medical scribe software and broader clinician care-partner tools, expanding globally from Australia. | $65M | Q4 2025 | Heidi Health |
| OpenEvidence | Offers an AI copilot and medical search tool for doctors at point of care in the U.S. | $200M | Q4 2025 | Fierce Healthcare |
| Hyro | Provides AI agents for healthcare front-door and service workflows, focused on U.S. health systems. | $45M | Q4 2025 | Hyro |
| Honey Health | Builds autonomous AI agents for healthcare back-office operations, focused on U.S. providers. | $7.8M | Q4 2025 | PR Newswire |
| Beacon Biosignals | Builds AI-driven neurodiagnostic and precision-medicine tools for brain health, focused on pharma and medtech. | $86M | Q4 2025 | Beacon Biosignals |
| Voize | Builds ambient speech AI for nurses and care facility staff, strongest in Germany and Austria. | $50M | Q4 2025 | Fierce Healthcare |
| Hippocratic AI | Builds patient-facing AI agents for non-diagnostic clinical tasks at U.S. health systems. | $126M | Q4 2025 | Fierce Healthcare |
| OpenEvidence | Offers an AI copilot and medical search tool for doctors at point of care in the U.S. | $250M | Q1 2026 | Business Wire |
| Lotus Health AI | Offers a free AI doctor and primary-care platform, operating without insurance requirements in the U.S. | $35M | Q1 2026 | TechCrunch |
| Anterior | Sells clinician-led AI for health plan workflows, especially prior auth, focused on the U.S. | $40M | Q1 2026 | PR Newswire |
| Ease Health | Builds an AI-native operating system combining CRM, EHR, and billing tools for behavioral health providers. | $41M | Q1 2026 | Business Wire |
| Amigo AI | Lets U.S. healthcare organizations build and train patient-facing clinical AI agents using simulation. | $11M | Q1 2026 | Business Wire |
| Translucent | Builds AI that helps U.S. providers spot and respond to financial risk across their operations. | $27M | Q1 2026 | Translucent AI |
| Conduit Health | Uses AI to predict DME coverage and automate payer workflows while handling medical supply fulfillment in the U.S. | $17M | Q1 2026 | PR Newswire |
| Latent Health | Builds clinical AI to accelerate medication access and prior authorization for U.S. health systems. | $80M | Q1 2026 | Latent Health |
| Health Universe | Deploys inspectable, auditable AI agents for regulated healthcare workflows at U.S. health systems. | $6M | Q1 2026 | PR Newswire |
| Doctronic | Offers a free AI doctor and operates a clinical practice with autonomous prescription capabilities in the U.S. | $40M | Q1 2026 | MobiHealthNews |
| Qualified Health | Helps U.S. health systems govern, deploy, and scale AI across clinical and administrative workflows. | $125M | Q1 2026 | PR Newswire |
In our healthcare AI market deck, we identify pain points entrepreneurs should prioritize
How has funding activity in the healthcare AI market changed over time?
Q1 2025 was the most active quarter by far, pulling in $1.52 billion across 12 deals, largely because two massive rounds (Isomorphic Labs at $600M and Abridge at $250M) set the tone for the entire period.
Q2 2025 was the quietest quarter, with just 2 deals totaling $393M, though Pathos AI's $365M Series D made the total look deceptively large.
Between Q4 2025 and Q1 2026, total funding barely moved ($655.8M to $672M, a 2.5% increase), while year-over-year from Q1 2025, funding dropped by 55.8%, which reflects how exceptional those early 2025 mega-rounds were.
If you strip out the single largest deal in each quarter, the remaining healthcare AI activity tells a more consistent story: deal counts stayed between 7 and 11, and underlying capital flows ranged from roughly $200M to $420M per quarter, with no dramatic cliff or spike.
| Quarter | Number of deals | Total raised | Comment |
|---|---|---|---|
| Q1 2025 | 12 | $1,521M | Dominated by two mega-rounds (Isomorphic Labs, Abridge) that made it the biggest quarter by far. |
| Q2 2025 | 2 | $393M | Only 2 deals tracked; Pathos AI alone accounted for 93% of the quarter's total capital. |
| Q3 2025 | 7 | $689M | Ambience and OpenEvidence's Series B drove a rebound, with workflow AI gaining visible momentum. |
| Q4 2025 | 8 | $656M | Steady quarter with a mix of patient-access, documentation, and diagnostics rounds across deal sizes. |
| Q1 2026 | 11 | $672M | Broad-based activity with many smaller rounds; signals maturation toward operational healthcare AI tools. |
| All quarters | 40 | $3,931M | Five quarters of publicly announced, pure-play healthcare AI equity rounds above $500k. |
In our healthcare AI market deck, we identify repeatable patterns you can use if you’re building in this market
Which startups in the healthcare AI market raised the largest rounds over the last months?
These startups raised the most recently in the healthcare AI market:
- Isomorphic Labs raised $600M in its first-ever external round, reflecting how willing investors are to write enormous checks for AI-first drug design companies backed by credible science and an Alphabet pedigree.
- Pathos AI raised $365M in a Series D to advance its multimodal AI for oncology drug development, a category where clinical-stage AI biotechs can command very high valuations.
- OpenEvidence raised $250M in its Series D, its fourth round in five quarters, driven by rapid physician adoption and a clear ambition to build what it calls medical superintelligence for doctors.
- Abridge raised $250M in a Series D to scale its generative AI clinical documentation platform, which had already secured major health system partnerships and was proving measurable productivity gains for clinicians.
- Ambience Healthcare raised $243M in a Series C co-led by Oak HC/FT and Andreessen Horowitz to expand its ambient AI documentation and coding platform across large U.S. health systems.
- OpenEvidence raised $210M in a Series B just months before its Series C, positioning itself as the fastest-growing physician AI application in history at a $3.5B valuation.
- OpenEvidence raised $200M in a Series C just three months after its Series B, showing that investors were willing to keep doubling down on physician-facing AI with strong engagement metrics.
- Aidoc raised $150M to accelerate its CARE clinical foundation model and aiOS platform, with backing from General Catalyst, Square Peg, and strategic health system investors including Hartford HealthCare and Sutter Health.
- Hippocratic AI raised $126M in a Series C to expand its roster of patient-facing AI agents and fund acquisitions, building on its unicorn status from earlier in the year.
- Qualified Health raised $125M in a Series B to meet growing demand from health systems that want to deploy AI enterprise-wide but need governance and scaling infrastructure to do it safely.
And, yes, we do cover most of them in our beautiful pitch about the healthcare AI market.
You may also want to check our ranking of the most funded startups in the healthcare AI market as well as our list of the most valued startups.
In our healthcare AI market deck, we answer all the common questions from investors and entrepreneurs
Is the healthcare AI market shifting toward smaller or bigger deals?
Across all five quarters, the average deal size in the healthcare AI market was about $98M, but that number is heavily skewed by a handful of very large life sciences and physician AI rounds.
Breaking it down by quarter, the average fell from $127M in Q1 2025 to $61M in Q1 2026, a drop of more than 50%; this shift likely reflects fewer drug-discovery mega-rounds and more early-to-mid-stage workflow companies entering the fundraising cycle.
If you exclude the single largest deal per quarter, the remaining healthcare AI rounds show a more stable and narrow range, suggesting the underlying funding base is healthy and consistent rather than inflating or deflating.
| Quarter | Number of deals | Avg deal size | Deals below $2M | Deals above $50M |
|---|---|---|---|---|
| Q1 2025 | 12 | $127M | 0 | 8 |
| Q2 2025 | 2 | $197M | 0 | 1 |
| Q3 2025 | 7 | $98M | 0 | 3 |
| Q4 2025 | 8 | $82M | 0 | 5 |
| Q1 2026 | 11 | $61M | 0 | 3 |
| All quarters | 40 | $98M | 0 | 20 |
In our healthcare AI market deck, we help you understand how the market is structured
How concentrated was funding activity in the healthcare AI market?
Healthcare AI funding was highly concentrated in every quarter tracked: in Q2 2025, the single largest deal (Pathos AI) captured 92.9% of all capital, and even in the most balanced quarters, the top three deals absorbed between 63% and 88% of total funds raised.
This level of concentration means that a small number of companies are capturing most of the capital flowing into the healthcare AI market, while the majority of deals are relatively small bets on earlier-stage workflow or infrastructure plays.
| Quarter | Number of deals | % by Top 1 | % by Top 3 | % by Top 10 |
|---|---|---|---|---|
| Q1 2025 | 12 | 39.4% | 65.2% | 99.4% |
| Q2 2025 | 2 | 92.9% | 100.0% | 100.0% |
| Q3 2025 | 7 | 35.3% | 87.6% | 100.0% |
| Q4 2025 | 8 | 30.5% | 62.8% | 100.0% |
| Q1 2026 | 11 | 37.2% | 67.7% | 99.1% |
| All quarters | 40 | 15.3% | 31.1% | 71.4% |
In our healthcare AI market deck, we have designed useful charts to give you full market clarity
Which categories in the healthcare AI market received the most funding?
Life sciences R&D led all categories with $1.16 billion across just 4 deals (29.5% of total funding), because this segment attracted two of the largest single checks of the entire period: Isomorphic Labs at $600M and Pathos AI at $365M. When AI drug discovery works, it commands checks that no other healthcare AI category can match.
Clinical decision support and diagnostics came in second at $1.05 billion across 7 deals (26.6% of total), propelled almost entirely by OpenEvidence's four consecutive rounds and Aidoc's $150M financing. This category benefits from strong physician engagement data, which gave investors the confidence to keep writing larger checks.
Clinical workflow automation ranked third at $949M across 13 deals (24.1% of total), but it was the most active category by deal count, reflecting a broad wave of smaller healthcare AI companies automating repetitive provider tasks like documentation, scheduling, and medication access.
| Category | Number of deals | Total raised | Startups and amounts |
|---|---|---|---|
| Life sciences R&D | 4 | $1,161M | Isomorphic Labs ($600M), Pathos AI ($365M), Insilico Medicine ($110M), Beacon Biosignals ($86M) |
| Clinical decision support & diagnostics | 7 | $1,047M | OpenEvidence ($75M + $210M + $200M + $250M), Aidoc ($150M), Harrison.ai ($112M), Quibim ($50M) |
| Clinical workflow automation | 13 | $949M | Abridge ($250M), Ambience Healthcare ($243M), Qventus ($105M), Mandolin ($40M), elea ($4.35M), AmplifyMD ($20M), Heidi Health ($65M), Voize ($50M), Autonomize AI ($28M), Ease Health ($41M), Conduit Health ($17M), Latent Health ($80M), Health Universe ($6M) |
In our healthcare AI market deck, we cover the latest tech updates shaping the market
Who are the biggest investors in the healthcare AI market?
GV (Google Ventures) and Kleiner Perkins each participated in 6 deals across the period, making them the most active investors in the healthcare AI market by deal count. GV's focus leaned toward diagnostics and physician AI (OpenEvidence, Beacon Biosignals, Translucent), while Kleiner Perkins spread bets across documentation, imaging, and patient AI platforms.
General Catalyst appeared in 5 deals, with a clear pattern of backing large-scale provider AI platforms (Hippocratic AI, Aidoc) alongside early-stage bets like Taxo and Latent Health. General Catalyst also invested in Latent Health's $80M Series A in Q1 2026, showing continued conviction in the category.
Andreessen Horowitz invested in 4 rounds, with a notable tilt toward patient-facing and workflow AI: Hippocratic AI (twice), Ambience Healthcare, and Ease Health. The firm's healthcare fund has been among the most visible in the market over this period.
NVentures (NVIDIA's venture arm) joined 4 rounds, including Hippocratic AI, Abridge, Aidoc, and OpenEvidence's Series D. NVIDIA's repeated participation signals strategic intent: backing the healthcare AI companies most likely to drive GPU demand at scale.
Thrive Capital led or co-led 4 rounds, including the $600M Isomorphic Labs round and three OpenEvidence rounds. Thrive's concentration in OpenEvidence in particular suggests very high conviction in the physician AI platform thesis.
Y Combinator backed 4 healthcare AI companies across this period (Candid Health, Taxo, Voize, Latent Health), reinforcing its growing presence as an entry point for healthcare-specific AI startups that go on to raise larger institutional rounds.
Lightspeed Venture Partners participated in 3 deals: Abridge, Assort Health, and Doctronic. All three sit in the clinical workflow and patient-access automation space, suggesting a deliberate thesis around labor-replacing AI in provider settings.
SV Angel appeared in 3 deals: Hippocratic AI's Series B, Abridge's Series D, and Mandolin's round. While SV Angel typically participates at smaller check sizes, its recurrence signals early-entry conviction in platform-level healthcare AI companies.
Disclaimer: this investor list may be incomplete; we focus on publicly disclosed lead and prominent recurring investors, so some frequent minority participants may be underrepresented. "Total funded" does not represent the amount personally invested by an individual investor. Instead, it refers to the aggregate amount raised across all fundraising rounds in which the investor participated.
| Investor | Number of deals | Total funded | Startups |
|---|---|---|---|
| GV | 6 | $1,471M | Isomorphic Labs, OpenEvidence (x3), Beacon Biosignals, Translucent |
| Kleiner Perkins | 6 | $1,068M | Hippocratic AI (x2), OpenEvidence (x2), Ambience Healthcare, Lotus Health AI, Health Universe |
| General Catalyst | 5 | $602M | Hippocratic AI (x2), Taxo, Aidoc, Latent Health |
| Andreessen Horowitz | 4 | $551M | Hippocratic AI (x2), Ambience Healthcare, Ease Health |
| NVentures | 4 | $767M | Hippocratic AI (x2), Abridge, Aidoc |
| Thrive Capital | 4 | $1,260M | Isomorphic Labs, OpenEvidence (x3) |
| Y Combinator | 4 | $136M | Candid Health, Taxo, Voize, Latent Health |
| Lightspeed Venture Partners | 3 | $366M | Abridge, Assort Health, Doctronic |
| SV Angel | 3 | $391M | Hippocratic AI, Abridge, Mandolin |
| Oak HC/FT | 2 | $296M | Candid Health, Ambience Healthcare |
In our healthcare AI market deck, we track adoption trends and shifts in consumer behavior
Related blog posts
- All the funding deals in healthcare AI
- Which startups have raised the most funding in the healthcare AI market?
