An AI health services startup company based in the U.K has raised a whopping $550 million in a recent series C funding round. The company, Babylon Health, developed a chatbot used by the National Health Service in the U.K. It is now valued at more than $2 billion.
TechCrunch was first to report on the funding, which is the latest example of the influx of investor money coming into the AI in healthcare space. The amount set a new record.
“This investment will allow us to [maximize] the number of lives we touch across the world. We have a long way to go and a lot still to deliver,” Babylon CEO and Founder Ali Parsa, PhD, said in a statement. “We are grateful to our investors, our partners and 1,500 brilliant Babylonians for allowing us to forge ahead with our mission.”
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Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."