A company that uses artificial intelligence (AI) to find healthcare data has raised millions in funding in a push to grow the business.
New York-based data company H1 raised $6 million in funding—led by Shore Group—in an effort to hire more data scientists and engineers, according to a report by VentureBeat. The company uses machine learning tools to scour clinical and scholarly databases to help healthcare professionals with their research.
H1 tools have searched through more than 50 million journal articles, 750,000 clinicians and physicians, 250,000 academic researchers and 250,000 clinical trials, according to VentureBeat.
“H1 has been very successful in developing technology that surfaces hard-to-find health care data, and arms clients with that data so they can make better and faster data-driven decisions along their development pipeline,” Shore Group CEO Ian Sax told VentureBeat. “[H1 co-founder] Ariel [Katz] has opened our eyes to the big opportunities in healthcare data, and we are excited to continue to invest in H1.”
H1’s work with data and machine learning in healthcare comes at a time when more and more companies are investing in artificial intelligence. Total revenue for AI in healthcare market is expected to surpass $34 billion worldwide by 2025, according to a report.
To read the full VentureBeat report, click the link below.
Danielle covers Clinical Innovation & Technology as a senior news writer for TriMed Media. Previously, she worked as a news reporter in northeast Missouri and earned a journalism degree from the University of Illinois at Urbana-Champaign. She's also a huge fan of the Chicago Cubs, Bears and Bulls.