Healx vs Butterfly Network

Butterfly Network has a disclosed valuation of $957M, while Healx's valuation is not publicly available, making a direct size comparison difficult. Butterfly Network employs 500-1000 people.

Butterfly Network has raised more in total funding at $370M, compared to Healx's $47M — a gap of $323M. Combined, the two companies have completed 8 known funding rounds.

Butterfly Network leads with an Awaira Score of 85/100, while Healx sits at 55/100. That 30-point gap reflects real differences in funding, scale, and traction — it's not a vanity metric.

Healx was founded by Tim Guilliams in 2014. Butterfly Network was founded by John Martin in 2011. Visit each company's profile on Awaira for a full founder biography.

Healx: Healx uses AI to identify and develop treatments for rare diseases, applying graph neural networks and multi-omics data analysis to repurpose existing approved drugs for new orphan disease indications. The Cambridge-based company focuses exclusively on rare diseases, where the small patient populations and limited existing literature make traditional drug discovery economically unviable without computational approaches that can extract signal from sparse data.\n\nThe company raised a $47 million Series B led by Balderton Capital and includes strategic investors from the rare disease patient advocacy community. Healx has assembled a pipeline of repurposing candidates for conditions including Fragile X syndrome, tuberous sclerosis complex, and other rare neurodevelopmental disorders, with several candidates advancing into clinical studies. The company partners with patient advocacy groups to access natural history data and patient registries that inform its disease models.\n\nHealx operates in a rare disease AI market that is less crowded than oncology-focused drug discovery AI but equally challenging due to regulatory complexity and small trial populations. The company competes with Healios, BenevolentAI, and specialist rare disease biotechs that are increasingly adopting computational methods. Its exclusive focus on rare diseases and its community partnerships represent a defensible niche that larger generalist AI drug discovery platforms have not prioritised. Butterfly Network: Butterfly Network produces the Butterfly iQ, a handheld ultrasound device powered by a proprietary semiconductor chip that replaces traditional piezoelectric transducer arrays with a single silicon chip capable of whole-body imaging. The AI software layer provides real-time image interpretation guidance, enabling clinicians with limited ultrasound training to perform diagnostic scans at the bedside.\n\nThe company is publicly traded on the NYSE under the ticker BFLY and raised over 700 million USD prior to and through its public listing. Butterfly has deployed devices across hospitals, emergency rooms, and point-of-care settings in over 50 countries, with particular penetration in resource-limited healthcare settings where traditional ultrasound equipment is prohibitively expensive or unavailable.\n\nPortable AI-assisted diagnostic imaging represents a structural shift in how and where medical imaging is performed. Butterfly Network has created a defensible position through its proprietary chip architecture, which competitors cannot easily replicate, and through its growing library of AI-assisted clinical guidance tools. The transition from hospital-based imaging to point-of-care diagnostics powered by AI guidance is a multi-decade trend that positions Butterfly at the center of a fundamental change in diagnostic medicine. Butterfly Network operates in the AI Healthcare sector and is headquartered in United States. Founded in 2011 by John Martin, Butterfly Network has raised $370M in total funding, achieving a valuation of $957M as of its latest round. The company's funding journey includes a Seed of $11.1M in 2011, a Series A of $29.6M in 2012, a Series B of $66.6M in 2014, a Series C of $114.7M in 2015, a Series D of $148M in 2016. With approximately 500-1000 employees, Butterfly Network has established itself as a Public-stage player in the AI Healthcare market. The company holds an Awaira Score of 85/100, reflecting its strong position across valuation, funding trajectory, team scale, and market influence. Butterfly Network competes in a rapidly evolving segment alongside other AI Healthcare companies. Based in United States, Butterfly Network is part of a growing international AI ecosystem attracting talent and investment. The AI Healthcare space has attracted significant investment in recent years, with companies racing to capture enterprise and consumer demand for AI-powered solutions.

Butterfly Network got there first, launching in 2011 — that's 3 years of extra runway. Healx didn't arrive until 2014. In AI, that kind of head start means more training data, deeper customer relationships, and a bigger talent moat.

Healx has about 1-50 employees; Butterfly Network has about 500-1000. A bigger team usually means more revenue or heavier VC backing, but in AI, small teams can build at massive scale.

Yes — they're direct rivals. Both Healx and Butterfly Network compete in AI Healthcare, targeting many of the same buyers. If you're evaluating one, you should be looking at the other.