Healthleap, which makes AI screening software to identify patients at risk of undiagnosed illnesses, raised $38M across a $30M Series A and an $8M seed

AI tools can now mine clinician notes for subtle health risks, improving patient care and hospital finances.

Healthleap, an AI software company focused on identifying patients at risk of undiagnosed illnesses, has secured $38 million in funding. The investment comprises an $8 million seed round, co-led by Sequoia Capital and First Round Capital, and a $30 million Series A round led by Hummingbird Ventures. Founded in 2022, Healthleap's platform analyzes patient electronic health records, including structured data and clinicians' notes, to flag potential conditions like malnutrition and delirium that are often overlooked. The company's AI uses language models to extract relevant information from notes and combines it with structured data to generate risk scores for care teams. Currently deployed in over 50 hospitals, including major institutions like Penn Medicine and Cedars-Sinai, Healthleap's software aims to support clinicians by highlighting patients who may require further medical attention, without making diagnoses itself. The company plans to use the new capital to expand its engineering, product, sales, and customer success teams, as well as to develop capabilities for identifying more health conditions and extend its services to outpatient and home care settings.

The substantial funding round for Healthleap signals growing investor confidence in AI's potential to uncover hidden patient conditions within complex electronic health record data. By processing unstructured clinical notes, Healthleap's technology addresses a critical gap in early detection, potentially improving patient outcomes and reducing hospital readmissions. This development suggests a market trend towards more sophisticated AI applications that go beyond structured data analysis, leveraging natural language processing to extract nuanced clinical insights.

This advancement could significantly impact how hospitals manage patient populations and allocate resources, moving towards more proactive and data-driven care. As Healthleap expands its capabilities to cover more conditions and settings, it presents a model for other health tech companies aiming to extract deeper value from existing healthcare data. The success of outcome-based pricing also indicates a shift towards value-based care models, where AI providers demonstrate tangible financial and clinical returns for their clients.