BenevolentAI was founded in 2013 (originally as Stratified Medical) by the management team of Proximagen who have a track record of building highly successful and disruptive technology companies. They saw the opportunity to forge a union between technology and bioscience using AI in order to accelerate biomedical discoveries. Between Q4 2013 and Q3 2015 the company has conducted four rounds of funding, raising a total of £87.72 million (circa $100m) at a final valuation of $1.781 billion. Lead investors included Woodford Investment Management, Lansdowne Partners, Lundbeck H/S and Upsher Smith Laboratories Inc. In 2014 benevolent.ai signed a licence deal with a US pharmaceutical organisation based on two novel targets for the treatment of Alzheimer’s disease. In September 2016, the company changed its name from Stratified Medical to benevolent.ai to better reflect the wider application of its technology outside of human healthcare and drug discovery.
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