Zephyr AI gets $111M from Eli Lilly, others
Zephyr AI, an artificial intelligence company focused on precision medicine, received $111 million in a Series A funding round.
Pharmaceutical giant Eli Lilly was an investor in the round, along with venture capital company Revolution Growth, investment firm Epiq Capital Group and billionaire philanthropist Jeff Skoll.
Read more: Funding this week: General Catalyst backs cardiology tech company
Zephyr is developing technology to unify clinical data sources and use various machine learning algorithms in the areas of oncology and cardiometabolic disease. The goal is to help generate insights for clinicians using real-world patient data. Zephyr said in a release it will use the funds to enhance its collection of training and validation datasets.
Zephyr received $18.5 million in a seed funding round in March 2022.
Company started at Mass General Brigham nets $40M
CodaMetrix, an AI-enabled revenue cycle management software company, received $40 million in a Series B funding round.
Growth equity firm Transformation Capital led the round, while venture capital firms SignalFire and Frist Cressey Ventures also participated.
CodaMetrix was founded in 2019 after being developed by providers at Boston-based Mass General Brigham, which invested in the company’s $55 million Series A round in February 2023. The company has developed an AI-enabled tool that aims to assist coders with complex cases.
CodaMetrix said in a release the funding will be used to advance the company’s technology.
Fidelity-backed VC co-leads HiLabs’ $39M Series B round
HiLabs, an AI healthcare data company, received $39 million in a Series B funding round.
The round was led by growth equity firm Denali Growth Partners and venture capital firm Eight Roads Ventures, which is backed by investment giant Fidelity. Venture capital firm F-Prime Capital also participated.
HiLabs’s software aims to ingest, clean and enrich healthcare data for payers, providers and patients. The company said in a release it will use the funding to enhance its platform and hire more people.
Milu Health closes $4.8M seed round led by Andreessen Horowitz
Milu Health, an AI company that works with employers, received $4.8 million in a seed funding round.
The round was led by Andreessen Horowitz’s fund that focuses on healthcare. Other investors in the round were BoxGroup, PagsGroup and 81 Collection.
Milu offers its employer customers a platform geared toward helping their employees save on healthcare costs. Milu said in a release it will use the funds to continue developing its technology and expand operations.
It’s the second benefits-focused funding round this month. Healthee, a health benefits tech company, announced it had raised $32 million in a Series A funding round on March 4.
Foundation Health receives $6M from Y Combinator CEO, others
Foundation Health, a digital health startup, received $6 million in a seed funding round.
Garry Tan, CEO of startup incubator Y Combinator, was an investor in the round along with Transpose Platform, Tuesday VC, Alt Capital, Box Group, Liquid Ventures, Exceptional Capital, Calm/Storm Ventures and PageOne Ventures.
Foundation was created by Truepill co-founder and former CEO Umar Afridi. The company has developed software that aims to help insurers launch their own virtual pharmacies and pharmaceutical companies launch their own direct-to-consumer telehealth platforms.
