Healthleap has raised $38 million in seed and Series A funding. The startup builds an artificial intelligence platform that reads patient records to identify individuals at risk of undiagnosed illnesses.
The financing includes an $8 million seed round co-led by Sequoia Capital and First Round Capital. Hummingbird Ventures led a $30 million Series A round. The company is not disclosing its valuation.
Siblings founded the startup in South Africa
Siblings Jemima and Josiah Meyer founded the company in South Africa in 2022. The startup initially offered a clinical nutrition tool built for dietitians. The company later pivoted to a more general-purpose platform targeting conditions like malnutrition or delirium in hospital patients.
To find at-risk patients, Healthleap plugs into electronic health record systems. Language models pull information from written notes, such as references to recent weight loss or difficulty swallowing. That analysis is combined with structured data like lab reports and vitals. The software does not diagnose patients, but highlights items for additional review.
Platform analyzes records nightly
Josiah Meyer explained that the platform analyzes every adult inpatient record each night. Each morning, the system writes a risk score into the care team workflow. A dashboard provides additional information regarding patient trends.
The company currently deploys its platform in more than 50 hospitals. Current customers include Penn Medicine, Cedars-Sinai, Intermountain, Houston Methodist, and Emory Healthcare. The startup has grown from three hospital partners over the past year while increasing revenue more than 10 times.
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The startup sells three-year contracts priced by licensed bed count alongside an outcome-based pricing model. Josiah Meyer stated that every customer has seen a 5x hard return on investment or more, with some seeing over 20x annual total return. At the Hospital of the University of Pennsylvania, the malnutrition program resulted in $23.8 million in annualized financial impact.
Healthleap plans to spend the new funding on engineering, product, sales, and customer success. The company aims to cover more than 40 major health conditions and expand into outpatient and home care.
