Mapping A.I. in Healthcare: Early Stage Startups VCs Should Keep An Eye On

Healthcare has the highest number of VC-backed artificial intelligence startups

In my previous article, I wrote about the broken healthcare system in the U.S. and I discussed how exactly A.I. will help lower the cost of healthcare for governments, insurance companies, and healthcare providers, which subsequently will reduce your medical insurance premiums.

In summary, these are the different ways A.I. will shape the future of healthcare:

According to CB Insights, more than $2.14Bn of venture capital has poured into healthcare A.I. companies in the past 5 years across more than 300 deals. Most active investors of this space are AME Cloud Ventures, Data Collective, Vinod Khosla’s Khosla Ventures, and Google Ventures (GV).

While there are already unicorns in this space, namely Flatiron Health, Benevolent, and iCarbonX, and many companies who have raised 10s of millions of dollars in funding, I was interested to map out the early stage startups in this space.

I screened more than 200 companies in the A.I. Healthcare space (thanks to CB Insights, Crunchbase Pro, YCombinator, and other sources) and filtered out the ones that:

If you want to have access to the list and scores of startups, please get in touch and I will share it with you.

This left me with exactly 70 startups to work on. Then I scored all these 70 startups based on the below criteria (0–10 scale):

Using the above scoring system, I calculated a total score for each startup (which was a function of their scores for each category), and ranked all these companies. Here I will present the top 5 investment opportunities for each category (raised angel, raised seed, raised series A).

Top Angel-Funded Startups:

1 — Billion to One (Score=436): Prenatal Genetics Testing Using Blood Test

Category: Diagnostics — Funding: $120K — Where: SF Bay Area — YC Alumni.

From Billion To One’s Website

2 — ShiftDoc (Score=313): On-demand Staffing Marketplace for Private Practitioners

Category: Administrative — Funding: $120K — Where: SF Bay Area — YC Alumni.

3 — zPREDICTA (Score=203): Simulation Platform for Drug Discovery

Category: Drug Discovery — Funding: $120K — Where: SF Bay Area — YC Alumni — Great Oaks Ventures

4 — Glidian (Score=189): Insurance Preauthorization of Treatments from Provider Side

Category :Administrative — Funding: ~$100K — Where: SF Bay Area — Alchemist Alumni.

5 — Macro Eyes (Score=180): Multiple products for reducing no shows, device selection, etc.

Category: Administrative — Funding: $100K — Where: Seattle, WA — Investors: Bill & Melinda Gates Foundation

Other startups in the angel stage that were analyzed and were close contenders: BeholdHealth, Tensor, Kangaroo Health, docCheer, HealthWiz, iSono Health, Able Health, Sunu, WoundMe, Invio, Nimblr, FitBliss, Simplifimed, Sunrise Health, Totemic Labs, EnsoData, Autonomous Healthcare, Clipboard Health , VisExcell, TinyKicks.

Top Seed-Funded Startups

1 — Athelas (Score=660): Rapid at-home Blood Test Diagnostics

Category: Diagnostics — Funding: $3.6M — Where: SF Bay Area — YC Alumni — Investors: Sequoia, Dorm Room Fund

2 — Enzyme (Score=598): Help Life Sciences Companies with FDA/Compliance

Category: Administrative — Funding: $2M — Where: SF Bay Area — YC Alumni — Investor: Data Collective

3 — Viz (Score=445): Identify Anomalies in Brain Scans

Category: Diagnostics — Funding: $9.6M — Where: SF Bay Area — Pejman Nozad @Pear Launchpad—Investors: AME Cloud Ventures, Danhua Capital

4— Darmiyan(Score=445): Alzheimer’s Diseases Diagnostics from Brain Scans 15 Years Prior to Symptoms Appearing

Category: Diagnostics — Funding: $3.1M — Where: SF Bay Area — YC Alumni — Investors: Fenox Venture Capital, DHVC

5 — TwoXAR(Score=442): Find New Drug Candidates

Category: Drug Discovery — Funding: $4.3M — Where: SF Bay Area — StartX Alumni — Investors: Vijay Pande of Andreessen Horowitz

Other startups in the seed stage that were analyzed and were close contenders: Medal, Spring Health, Envisagenics, VitaGene, Lively, Oncora Medical, BodyPort, Cardiogram, iQuity, BloomAPI, Ava, CareSkore, Kaia, Proscia, TechCyte, Atomwise, NarrativeDx, PulseData, Picnic Health, DocSync, CloudMedX, PotBotics, Eko Devices, LexiGram, TypeZero, Care Angel, VEDA Data, Saykara, Datalog

Top Series-A Funded Startups

1 — Qrativ (Score=543): Drug Discovery For Rare Diseases

Category: Drug Discovery — Funding: $8.3M — Where: Cambridge, MA — Investors: Mayo Clinic, Matrix Partners

2 — NuMedii (Score=387): A.I. on Research Data for Discovery of Precision Medicine

Category: Drug Discovery — Funding: $5.5M — Where: SF Bay Area — Investors: Lightspeed, Claremont Creek

3 — Bay Labs (Score=294): Cardiovascular Imaging Diagnostics

Category: Diagnostics — Funding: $5.5M — Where: SF Bay Area — Investors: Data Collective, Khosla, Greenbox

4 — NextHealth (Score=244): Various Products to Shift Patient Behavior To Reduce Cost For Insurance Companies

Category: Misc. — Funding: $9.5M — Where: Colorado — Investors: Norwest Venture Partners

5 — Jvion(Score=142): Predicting Risk of Illnesses In the Future

Category: Data Analytics — Funding: $8.9M — Where: Georgia, LA — Investors: Unknown

Other startups in the series-A stage that were analyzed and were close contenders: Cogitavito, Care Predict, Buoy Health

I hope this article was useful for VCs and other professionals looking into the healthcare A.I. companies.

If you found this article useful, may I ask you to share it with others who may benefit on social media?

Also, Please feel free to get in touch through LinkedIn and I can share the mapping file.

Founder turned VC — Partner at DCVC. Author of "Super Founders". Spent 4 years collecting the largest dataset on startups. Order on Amazon.

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