Israeli AI co-pilot app for primary care, K Health, raised $50 million in Series G funding round at a $900 million valuation. The investment was led by Claure Group, with participation from Pablo Legorreta, founder and CEO of Royalty Pharma, as well as existing investors Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.
The startup, which operates from Israel and the US, offers a clinical-grade AI co-pilot app for primary care. They aim to transform primary care visits by automating patient assessments, integrating with electronic medical records, and providing physicians with comprehensive medical charts and patient insights.
K Health plans to use the new funding to expand its clinical AI capabilities and further develop its integrated care delivery model. They've already partnered with leading health systems, including Cedars-Sinai, to implement its technology and reported a 15% increase in primary care access for its partner health systems.
Allon Bloch, founder and CEO of K Health, emphasized the company's goal of providing a concierge medical experience with 24/7 access to care, made accessible through health insurance.
Despite the latest capital injection, the startup's valuation has reportedly dropped from its Series E, $1.4 billion (achieved in 2021), to approximately $900 million, as reported by Bloomberg, representing a 32% decrease. The decline may reflect broader market trends in digital health and telehealth, which tapered since the Covid19 pandemic, compounded with the introduction of powerful LLM technology replacing their own.
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K Health was founded in 2016 by Allon Bloch, Ran Shaul, Israel Roth, and Adam Singolda (Taboola's founder).
