A young healthcare artificial intelligence company that says it can help scientists “do in hours what would have taken days-to-months” plans to substantially grow its team and potentially make some acquisitions after raising $150 million.
Privately held Concerto HealthAI works with drugmakers to process and utilize different types of data, which CEO Jeff Elton likened to raw, crude petroleum, having little utility until it’s processed.
The company closed its Series B round this week from investment firms Declaration Partners, AllianceBernstein PCI and private equity firms Maverick Ventures and SymphonyAI Group. The latter firm is led by Concerto’s founder and board chairman, billionaire Romesh Wadhwani.
