Digital healthcare app Babylon Health lands $60m in new funding
Funding reportedly values London-based app at $200m and will be used to invest in the development of its AI platform
Babylon Health, the digital healthcare app, has raised $60m in additional funding from undisclosed investors.
Founded in 2013 by former Goldman Sachs employee Ali Parsa, London-based Babylon allows its users to arrange and engage in video and text consultations with handpicked doctors from around the world.
The platform can send users’ prescriptions to their front door, office or local pharmacy and even abroad, and allows them to track their results, activity levels and health information.
Following a £17.3m Series A led by Innocent Drinks and DeepMind in early 2016, Babylon launched its artificial intelligence (AI) chatbot ‘triage’ service in July – an alternative to the NHS’s 111 helpline – and claims to have helped 250,000 people to date.
The Financial Times has reported that this new funding gives the company a valuation of $200m and will be used to further develop its technology, allowing it to roll out a service that offers diagnosis by AI later this year.
Dr Ali Parsa, founder and CEO of Babylon, commented: “Babylon scientists predict that we will shortly be able to diagnose and foresee personal health issues better than doctors, but this is about machines and medics co-operating not competing.
“Doctors do a lot more than diagnosis: artificial intelligence will be a tool that will allow doctors and health care professionals to become more accessible and affordable for everyone on earth. It will allow them to focus on the things that humans will be best at for a long time to come.”
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Digital doctors were one of our tech trends for 2017, learn more about the ‘medtech revolution’ here.