Khosla Ventures has backed 5 of the startups on the map.

In our quarterly analysis of companies pursuing healthcare-focused applications of AI, we reported that deals leapt from less than 10 in 2011 to 60 in 2015. So far this year (as of 8/23/2016), companies in this space have raised over 55 equity funding rounds. Some of the recent deals include a $25M Series A round raised by London-based health services startup, Babylon Health, backed by investors including Kinnevik and Google-owned DeepMind Technologies (Babylon will reportedly roll out a Siri-like voice recognition interface this year), and a $154M Series A round raised by China-based iCarbonX.

“By 2025, AI systems could be involved in everything from population health management, to digital avatars capable of answering specific patient queries.” — Harpreet Singh Buttar, analyst at Frost & Sullivan.

We identified over 90 companies that are applying machine learning algorithms and predictive analytics to reduce drug discovery times, provide virtual assistance to patients, and diagnose ailments by processing medical images, among other things. We first published the market map below in April 2016. It has been updated since then to include companies that have raised an equity funding round since January 2013, and exclude exited companies like MetaMind, which was recently acquired by Salesforce.

Webinar: Artificial Intelligence in Healthcare
We take a look at investment trends to AI in healthcare, active investors in the space, and focus on a few startups bringing AI to cancer therapeutics and diagnosis.

A few investment highlights:

  • Increasingly crowded imaging & diagnostics: 17 out of the 22 companies under imagining & diagnostics raised their first equity funding round since January 2015 (this includes 1st Seed or Series A rounds, as well as a first round raised by stealth startup Imagen Technologies). In 2014, Butterfly Networks raised a $100M Series C, backed by Aeris Capital and Stanford University. This was the third-largest equity round to AI in healthcare companies, after China-based iCarbonX’s $154M mega-round and two $100M+ raises by oncology-focused Flatiron Health.
  • VCs invest in drug discovery: Startups are using machine learning algorithms to reduce drug discovery times, and VCs have backed 6 out of the 9 startups on the map. Andreessen Horowitz recently seed-funded twoXAR, developer of the DUMA drug discovery platform; Khosla Ventures and Data Collective backed Atomwise, which published its first findings of Ebola treatment drugs last year, and has also partnered with MERCK; Lightspeed Venture Partners invested in Numedii in 2013; Foundation Capital participated in 3 equity funding rounds to Numerate.
  • Khosla Ventures backs 5 companies: Khosla Ventures has been the most active VC investor in the space, having backed 5 unique companies: California-based Ginger.io, which focuses on patients with depression and anxiety; healthcare analytics platform Lumiata; Israel’s Zebra Medical Vision and California-based Bay Labs, which apply AI to medical imaging; as well as drug discovery startup Atomwise.
  • AI in oncology: IBM Watson Group-backed Pathway Genomics has recently started a research study for its new blood test kit, CancerIntercept Detect. The company will collect blood samples from high-risk individuals who have never been diagnosed with the disease to determine if early detection is possible. Other oncology-focused startups include Flatiron HealthCyrcadia (wearable device), CureMetrix, SkinVision, Entopsis, and Smart Healthcare.
  • Remote patient monitoring: New York-based AiCure raised $12.3M in Series A funding from investors including Biomatics Capital Partners, New Leaf Venture Partners, Pritzker Group Venture Capital, and Tribeca Venture Partners, for the use of artificial intelligence to ensure patients are taking their medications. California-based Sense.ly has developed a virtual nursing assistant, Molly, to follow up with patients post-discharge. The company claims Molly gives clinicians “20% of their day back.” Sentrian, backed by investors including frost Data Capital, analyzes biosensor data and sends patient-specific alerts to clinicians.
  • Core AI companies bring their algorithms to healthcare: Core AI startup Ayasdi, which has developed a machine intelligence platform based on topological data analysis, is bringing its solutions to healthcare providers for applications including patient risk scoring and readmission reduction. Other core AI startups looking at healthcare include H2O.ai and Digital Reasoning Systems.

AI_healthcare_map_20160914

90+ AI Startups In Healthcare
Company Total Funding (USD) Investors
Advenio TecnoSys $0.1M Kstart, Zone Startups
AiCure $15.1M Biomatics Capital Partners, National Institute on Drug Abuse, National Institutes of Health, New Leaf Venture Partners, Pritzker Group Venture Capital, Tribeca Venture Partners
Amara Health Analytics $0.07M NA
analyticsMD $0.84M Fenox Venture Capital, FundersClub, StartX, Y Combinator
Apixio $45.36M Bain Capital Ventures, First Analysis, SSM Partners, Undisclosed Angel Investors,
Arterys $12M AME Cloud Ventures, Asset Management Ventures, Emergent Medical Partners, GE Ventures, Morado Venture Partners, Norwich Ventures, StartX
Atlas $0.65M Indiegogo, Techstars
Atomwise $6.12M AME Cloud Ventures, Data Collective, Draper Fisher Jurvetson, Khosla Ventures, OS Fund, Y Combinator
Avalon $0.14M Entrepreneur First, Techstars
Ayasdi $97.9M Centerview Capital, Citi Ventures, Draper Nexus Ventures, Floodgate, Institutional Venture Partners, Khosla Ventures, Kleiner Perkins Caufield & Byers
Babylon Health $24.94M DeepMind Technologies, Hoxton Ventures, Innocent Drinks, Kinnevik
Bay Labs $2.5M Eleven Two Capital, Jack Culpepper, Kevin Goodwin, Khosla Ventures, National Science Foundation, Nicolas Pinto, Randy Martin, Vince Monical, Yann LeCun
Behold.ai $0.02M Almaworks, gener8tor
BioBeats $3.23M AXA Strategic Ventures, Cantora Records, Damon Wayans, ENIAC Ventures, Gotham Chopra, IQ Capital Partners, Justin Boreta, K5 Ventures, Ken Hertz, Mark Beaven, Scooter Braun, Slow Ventures, , White Cloud Capital, Will Smith, ZhenFund
Buoy Health $2.52M NA
BurstIQ $0.25M 500 Accelerator, PV Ventures
Butterfly Network $100M Aeris Capital, Stanford University
Clinithink NA Finance Wales Investments, Vanguard Atlantic
Cloud Pharmaceuticals $1.73M National Science Foundation,
CloudMedX $6.72M FundersClub, Lux Capital, Tencent, Y Combinator
CureMetrix NA Analytics Ventures, evoNexus, Keshif Ventures, La Costa Investment Group
Cyrcadia $2.45M Reno Angels, Undisclosed Angel Investors
Deep Genomics $3.74M Bloomberg Beta, True Ventures, Undisclosed Angel Investors, University of Toronto Early-Stage Technology
Deep6 $0.1M Techstars
Desktop Genetics $3.15M Angels in MedCity, Boundary Capital, Darrin Disley, Execute Technologies, Illumina, Innovate UK, IQ Capital Partners, Jonathan Milner, London Co-Investment Fund, Martin Murphy, Michael Martin, Richard Youngman
Digital Reasoning Systems $75.6M Goldman Sachs, HCA, Health Evolution Partners, Lemhi Ventures, NASDAQ, Silver Lake
EaglEyeMed $0.6M  NA
Enlitic $12M Amplify Partners, Capitol Health Partners, Data Collective
EnsoData $0.56M HealthX Ventures, Y Combinator
Entopsis $1.73M Breakout Labs, Krillion Ventures,
Envisagenics $0.56M HealthX Ventures, Y Combinator
Flatiron Health $24.81M Allen & Company, Baillie Gifford & Co., Casdin Capital, Google Ventures, Roche Venture Fund
Freenome $7.05M Andreessen Horowitz, Data Collective, Founders Fund, Third Kind Venture Capital
Gauss Surgical $313M AVIA Health Innovation, Jump Capital, LifeForce Ventures, Promus Ventures, Providence Ventures, StartX, Summation Health Ventures, Taube Investment Partners, TMCx, UHC
Ginger.io $28.22M Ari Buchler, Bill Warner, ENIAC Ventures, James Joaquin, Kaiser Permanente Ventures, Kapor Capital, Khosla Ventures, LaunchCapital, Romulus Capital, Techstars, True Ventures, Ty Curry, Walt Winshall
Globavir Biosciences $0.15M StartX
H2O.ai $30.6M Capital One Growth Ventures, Nexus Venture Partners, Paxion Capital Partners, Transamerica Ventures
Healint $1.01M GREE Ventures, JFDI.Asia, Shin Ryoku, Singapore National Research Foundation, Undisclosed Angel Investors, Wavemaker Partners
Health Fidelity $19.26M Charter Life Sciences, The University of Pittsburgh Medical Center
Hindsait NA Guidewell, Healthbox Global Partners
iCarbonX $199M China Bridge Capital , Tencent, Vcanbio
Imagen Technologies $5M NA
Imagia Cybernetics NA BDC Healthcare Venture Fund, Emerillon Capital, Lumira Capital, Real Ventures
InSilico Medicine $0.8M Deep Knowledge Ventures
Intendu NA Impact First Investments
Jvion $8.9M Eastside Partners
LifeGraph NA 8200 EISP
Lucina Health $19.64M Arboretum Ventures, Cape Andover Capital Partners, Chrysalis Ventures, JumpStart, North Coast Angel Fund, Qualifying Therapeutic Discovery Project
Lumiata $20M BlueCross BlueShield Venture Partners, Intel Capital, Khosla Ventures, Sandbox Industries
Lunit NA Formation 8, K Cube Ventures, Softbank Ventures Korea
Magnea $0.22M Elis Nemes, Karl-Mikael Syding
Medal $3.78M 8VC, Draper Associates, Founders Fund, ZhenFund
Medalogix $5M Coliseum Capital Management
Medasense $8M 8200 EISP, Baxter Ventures, Benslie Investment Group
MedAware $2.35M DreamIt Ventures, GE Ventures, MassChallenge, OurCrowd.com, Winton Ventures
MedWhat $1.12M Caixa Capital Risc, Microsoft Ventures Accelerator, Stanford Hospital & Clinics, Stanford University, Startcaps Ventures
MedyMatch Technology $2M Exigent Capital, Genesis Capital Advisors
Mindshare Medical $2M Frost Data Capital
NarrativeDx $1.8M Capital Factory, DreamIt Ventures, Floodgate, Live Oak Ventures, LiveOak Venture Partners, Silverton Partners, Undisclosed Investors
NextHealth Technologies $9.5M Daniel Spirek, James Bradley, Norwest Venture Partners, Peter Everett, Point B Capital, Trace Devanny
NuMedii $3.5M Claremont Creek Ventures, Life Science Angels, Lightspeed Venture Partners
Numerate $17.5M Atlas Venture, Foundation Capital, Lanza techVentures, Lilly Ventures
Nuritas $5.5M Ali Partovi, Marc Benioff, New Protein Capital
Oncora Medical $1.32M BioAdvance, Dorm Room Fund, Dr. Thomas Mackie, DreamIt Ventures, iSeed Ventures, Science Center
Ovuline $5.78M Bridge Boys, David Cohen, LaunchCapital, Lead Edge Capital, Lightbank, LionBird, Martin Ventures, Paris Wallace, Techstars, Techstars Ventures, Zaffre Investments
Pathway Genomics $40M Edelson Technology Partners, Founders Fund, IBM Watson Group
PeerWell NA Arian Foster
PhysIQ $4.6M  NA
Picto Connection $0.02M Rockstart Accelerator
Potbotics $2.36M NA
Profility $1.69M Previz Ventures
Proscia $1M A-Level Capital, Emerald Development Managers, Robin Hood Ventures, TCP Venture Capital
Qualaris Healthcare Solutions $0.2M Carnegie Mellon University, Innovation Works
Roam Analytics 22.37M 8VC, AITV, Blumberg Capital, Undisclosed Angel Investors
RxPREDICT $1M  NA
Saykara $2.37M NA
Sense.ly $3.79M Alchemist Accelerator, Eastlink Capital Management, Fenox Venture Capital, Launchpad Digital Health, TA Ventures, TMCx, Undisclosed Angel Investors
Sentrian $15.82M Frost Data Capital, REV, Tech Coast Angels, TELUS Ventures
SigTuple NA Accel Partners, Ashok Bareja, Binny Bansal, Debanjan Mukherjee, Nirupa Bareja, Sachin Bansal
SkinVision $3.47M Leo Pharma, PHS Capital, Seedmoney
Smart Healthcare $0.03M Chalmers Ventures
Stratified Medical $140.55M Woodford Investment Managment
TAO Connect $1.1M Florida Angel Nexus, Florida Funders
TinyKicks $0.62M evoNexus,
Touchkin $0.4M Alok Mittal, Amit Gupta, Anuj Srivastava, Himanshu Aggarwal, Puneet Agarwal, Raghunandan G., Swiss Re
twoXAR $3.4M Andreessen Horowitz
VisExcell $0.25M DreamIt Ventures,
Wellframe $10.3M Carl Byers, Draper Fisher Jurvetson, Formation 8, James Nahirny, John McEleney, Jonathan Bush, Michael Gaiss, Pam Garside, QueensBridge Venture Partners, Rock Health, Steve Papa, Tim Draper, , Waterline Ventures
WellTok $191.92M Bessemer Venture Partners, Catholic Health Initiatives, EDBI, Emergence Capital Partners, Flare Capital Partners, Georgian Partners, Hearst Ventures, IBM Watson Group, InterWest Partners, Miramar Digital Ventures, Miramar Venture Partners, New Enterprise Associates, Okapi Venture Capital, Qualcomm Ventures, TriZetto Corporation
Your.MD $5M Smedvig Capital
Zebra Medical Vision $20M Deep Fork Capital, Intermountain Healthcare, Khosla Ventures, Marc Benioff
Zephyr Health $32.5M Google Ventures, Icon Ventures, Kleiner Perkins Caufield & Byers, Susa Ventures
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