Huma raises USD $80 million to launch AI-powered health platform

Digital health company Huma has secured USD $80 million in its Series D funding round, bringing its total equity financing to over USD $300 million. The funds will support the development of its new Huma Cloud Platform, a generative AI-powered ecosystem designed to streamline the creation and deployment of digital health solutions.

The Series D round saw contributions from a combination of new and existing investors, including notable names such as AstraZeneca, Hat Technology Fund 4 by HAT SGR, HV Fund by Hitachi Ventures, and Leaps by Bayer. HSBC Bank acted as the financial advisor during the fundraise.

The Huma Cloud Platform aims to expedite the typically lengthy process of developing regulatory-compliant digital health tools. Features of the platform include no-code configuration, a library of pre-built modules, device connectivity, cloud-agnostic hosting, and extensive API and integration capabilities. It also supports the hosting and deployment of diagnostic and predictive AI algorithms.

Dr Juergen Eckhardt, EVP and Head of Leaps by Bayer, commented on the development, stating, "We have known Huma for several years and we've been impressed by their remarkable progress. We have seen this first-hand. They have demonstrated strong growth and excellent metrics. With their next-generation AI capabilities and Huma Cloud platform, Huma can partner with pharma companies to deliver efficient digital health solutions to patients focused on predictive and proactive care."

Huma's regulatory-approved status spans multiple regions, including FDA Class II, EU MDR Class IIb, and Saudi FDA Class C. This global regulatory foundation allows for rapid, secure deployment of digital health solutions without the traditional time and cost burdens. The platform includes a Software Development Kit (SDK) to accelerate the development and integration of digital health applications.

The technology has already been implemented in over 3,000 hospitals and clinics, engaging over 35 million individuals with 1.8 million active users in more than 70 countries. The company's remote patient monitoring (RPM) service for respiratory illnesses now covers 140,000 contracted lives in the United States.

CEO Dan Vahdat shared his gratitude to the investors and reiterated the company's mission, stating, "I am thankful for the support of our new and existing shareholders, helping our vision become a reality, which we are closer to than ever before. We are here to accelerate the adoption of digital and AI across care and research, and we do that by making the building of digital health solutions for care and research easy. We like to think of Huma Cloud Platform much like Shopify but for digital health instead of e-commerce. We believe when digital and AI are scaled, they become affordable for both the poor and the rich. They remain consistent and will help us transition medicine from being reactive to proactive."

Huma's partnerships also extend to tech giants like Google, where they co-develop AI models aimed at reducing the administrative burden on healthcare providers. One such feature, dubbed '10x Nurse,' automates routine tasks and patient review processes, thereby enabling healthcare providers to manage chronic diseases more efficiently.