Factors Affecting Venture Funding of Healthcare AI Companies

Olli Halminen*, Henni Tenhunen, Antti Heliste, Timo Seppälä

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

4 Citations (Scopus)
40 Downloads (Pure)


Venture Capital (VC) funding raised by companies producing Artificial Intelligence (AI) or Machine Learning (ML) solutions is on the rise and a driver of technology development. In healthcare, VC funding is distributed unevenly and certain technologies have attracted significantly more funding than others have. We analyzed a database of 106 Healthcare AI companies collected from open online sources to understand factors affecting the VC funding of AI companies operating in different areas of healthcare. The results suggest that there is a significant connection between higher funding and having research organizations or pharmaceutical companies as the customer of the product or service. In addition, focusing on AI solutions that are applied to direct patient care delivery is associated with lower funding. We discuss the implications of our findings for public health technology funding institutions.

Original languageEnglish
Title of host publicationHealth Informatics Vision
Subtitle of host publicationFrom Data via Information to Knowledge
EditorsJohn Mantas, Arie Hasman, Parisis Gallos, Aikaterini Kolokathi, Mowafa S. Househ, Joseph Liaskos
PublisherIOS PRESS
Number of pages4
ISBN (Electronic)978-1-61499-987-4
ISBN (Print)978-1-61499-986-7
Publication statusPublished - 8 Jul 2019
MoE publication typeA4 Article in a conference publication
EventInternational Conference on Informatics, Management and Technology in Healthcare - Athens, Greece
Duration: 5 Jul 20197 Jul 2019
Conference number: 17

Publication series

NameStudies in Health Technology and Informatics
PublisherIOS PRESS
ISSN (Print)0926-9630
ISSN (Electronic)1879-8365


ConferenceInternational Conference on Informatics, Management and Technology in Healthcare
Abbreviated titleICIMTH


  • Artificial Intelligence
  • Capital Funding
  • Technology


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