Israeli startup K Health, known for its data-driven digital primary care platform, has secured $59 million in funding from investors and Cedars Sinai, California's largest hospital. While CEO and co-founder Allon Bloch declined to disclose the company's valuation in the latest funding round, estimations suggest a decrease from its previous valuation of $1.4 billion during a $142 million Series E funding in 2021. To date, K Health has raised a total of $325 million.
K Health has developed an AI-powered platform that combines medical expertise with patient clinical data, offering doctors and users insights into diagnoses and treatments based on similar symptoms and conditions. The startup has built a language model supported by machine learning algorithms that collect relevant information, filter out irrelevant data, construct a differential diagnosis, and determine whether to diagnose, refer for further testing or specialist consultation, or adopt a watchful waiting approach.
Founded in 2016 by Allon Bloch, Ran Shaul, Israel Roth, and Adam Singolda, K Health currently employs 260 individuals, excluding the doctors who work within a separate organization. The employee count has decreased from the previous funding round, where it stood at 310 employees. Initially, the company established a partnership with Israeli HMO Maccabi Healthcare Services, leveraging an anonymous database of 2.2 million doctor visits spanning 25 years.
Alongside the funding news, K Health made two other significant announcements. Firstly, it unveiled a collaboration with Cedars Sinai, in which the hospital will introduce a dedicated offering of K's AI and primary care medical services to its California-based customer base. Secondly, K Health shared that its AI system underwent a scientific review conducted by Dr. John Ebbert from the Mayo Clinic and Dr. Dan Zelter, a healthcare-focused economist from Tel Aviv University. This review represents one of the first comprehensive comparisons between AI and doctors in the field of primary care.
"Allon Bloch expressed his enthusiasm about the official approval of K Health's AI systems after six and a half years. He noted the significant milestone and the company's strong financial performance, generating tens of millions of dollars last year and experiencing rapid growth."
K Health's investors include 4W, Max Ventures, Pico Partners, Marcy Venture Partners, Primary Ventures, BoxGroup, LTS Investments, as well as renowned actress and producer Gal Gadot and her partner, producer Jaron Varsano.
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