Justpoint, the AI startup hoping to improve the medical malpractice system, just raised $1 million in a seed funding round backed by Vivek Garipalli, founder and CEO of Clover Health.
The startup's AI platform aims to to simplify medical malpractice claims. It tells users how likely they are to be successful based on their circumstances, and what kind of settlement they could be entitled to.
Medical errors are currently the third leading cause of death in the US, and often result in financial ruin for survivors that try to sue. A recent study found the average cost of a medical malpractice claim in the US has risen by 50% since 2009.
The round was led by Clover founder Garipalli, which has previously been backed by Sequoia Capital and Google Ventures. Other participants include Amino Capital, Whoa Ventures, and Harry Langenberg, founder of tax attorney firm Optima Tax Relief.
Victor Bornstein, CEO and cofounder of Justpoint, said that "better distinguishing lawsuits with merits and those without" will help improve healthcare for patients "while providing a safety net for families that have suffered the consequences of medical mistakes."
Langenberg said that Justpoint has "identified a big inefficient market in medical claims and malpractice that is ripe for disruption."
"Leveraging their deep experience in healthcare and technology, they have put together a brilliant team of engineers and scientists to turn their vision into reality," he said.
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