HiLabs, a provider of AI-driven solutions focused on analyzing raw data to extract meaningful insights and revolutionize healthcare, has secured $39 million in Series B funding.
Funding Round Details
The Series B funding round, led by Eight Roads Ventures and Denali Growth Partners, along with participation from F-Prime Capital, follows significant adoption of its MCheck™ platform for healthcare data management. This platform facilitates data ingestion, purification, and enhancement. The infusion of capital will drive further technological advancements, bolster talent acquisition efforts, and expand product development teams.
Company Vision
Amit Garg, Co-founder, and CEO of HiLabs, expressed the company’s commitment to advancing AI technology to empower healthcare organizations in making informed decisions based on readily available, clean data. Established in 2014, HiLabs aims to ensure timely access to refined data for payers, providers, and patients, aligning with the global trend towards data-driven decision-making in healthcare.
MCheck Platform
HiLabs’ cloud-based MCheck platform plays a pivotal role in ingesting, cleansing, and enriching critical healthcare data. This process leads to cost reductions for healthcare organizations and enhancements in patient outcomes.
Investor Perspective
Dr. Prem Pavoor, Senior Partner and Head of India and Healthcare Investments at Eight Roads Ventures, emphasized the increasing demand for innovative technology solutions among payers to make complex healthcare data actionable. He commended HiLabs for its vision, robust product suite, and impressive customer traction, highlighting its strong product-market fit.
Company Journey
The journey of HiLabs commenced at Yale University in the US, led by Amit Garg and Dr. Neel Butala, along with a small team. Over time, the company expanded its operations, establishing AI/ML research and development centers in Pune and Bangalore. With a team of over 150 employees, HiLabs actively recruits talent from prestigious institutions such as the IITs, IIMs, and ISB.
