HiLabs secures $39 million in Series B funding to propel AI-driven data management solutions for healthcare entities

• HiLabs aims to ensure timely access to refined data aligning with the global shift towards data-driven decision-making in healthcare
• The funding round was led by Eight Roads Ventures and Denali Growth Partners, with the involvement of F-Prime Capital
• The infusion of capital will fuel further advancements in technology, recruitment of top talent, and expansion of product teams

HiLabs, a provider of AI-driven solutions that aims to assess crude data to unlock meaningful insights and transform healthcare, has secured $39 million in Series B funding.

This funding round, led by Eight Roads Ventures and Denali Growth Partners, with the involvement of F-Prime Capital, comes on the heels of substantial adoption of its MCheck™ platform for healthcare data ingestion, purification, and enhancement. The infusion of capital will fuel further advancements in technology, recruitment of top talent, and expansion of product teams.

"We stand poised to propel our AI technology forward, empowering healthcare organisations to make swift, informed decisions based on data that's not just clean, but readily available when it matters most," said Amit Garg, Co-founder, and CEO of HiLabs.

Established in 2014, HiLabs aims to ensure timely access to refined data for payers, providers, and patients, aligning with the global shift towards data-driven decision-making in healthcare. Its cloud-based MCheck platform ingests, cleans, and enriches critical healthcare data, leading to reductions in operational costs for healthcare organisations and improvements in patient outcomes.

“Payers are increasingly looking for innovative technology solutions to make complex and disparate healthcare data actionable. The HiLabs team really impressed us with their vision, best-in-class product suite and strong customer traction, which is testament to their product-market fit,” says Dr. Prem Pavoor, Senior Partner, Head of India and Healthcare Investments, Eight Roads Ventures.

As per the statement, Amit Garg and Dr Neel Butala commence the journey of HiLabs at Yale University in the US, accompanied by a small team of interns and two full-time employees based in India. The team laid the groundwork for what would evolve into a network of AI/ML research and development centres in Pune and Bangalore. It now has more than 150 employees and actively recruits from prestigious institutions such as the IITs, IIMs, and ISB.