BUNKERHILL·Clinical AI deployment and agent-orchestration platform for health systems, with an owned portfolio of FDA-cleared imaging algorithms for opportunistic / incidental-findings detection on routine CTPrivate

Bunkerhill Health

ConvictionContext

B2B enterprise software sold to health systems. Carebricks is the substrate — integration, governance, monitoring, safeguards — and agents are the units of value: clinical (coronary calcium detection on an FDA-cleared algorithm, lung nodule, nephrology triage) and operational. Pricing is NOT disclosed: no per-agent, per-seat, per-study or subscription figure has been published by the company or any source found. The engine differs from a per-study diagnostic vendor's in one decisive way — Bunkerhill does not bill Medicare. The hospital bills G0680; Bunkerhill sells the software that makes it able to. Reimbursement is the SALES ARGUMENT, not the revenue line.

Revenue

Not disclosed. No company-statedaudited or primary-sourced figure at any vintage. The only quantity in circulation is a ratio with no base: 'grew revenue 20-fold' (The Next Web, Jul 2026), 'over 20x just last year' (Digital Health Wire, Jul 2026) — both trade relays of the Series B announcement, neither attaching a dollar figure nor citing the company on the record.

Rev growth

'20x' trailing year as reportedunverified, no base. The checkable proxies are deployment facts: 15 health systems on Carebricks (Fortune, 16 Jul 2026), 'more than a dozen' signed in the year (The Next Web), 20+ agents live at one site (UTMB CAIO Dr. Peter McCaffrey in the 16 Jul 2026 release; Fortune reports 22 — carry the range).

Gross margin

Not disclosed. Enterprise-software-shaped and better than a per-study diagnostic vendor'ssince the recurring unit is a platform relationship rather than a per-scan send-out. Three drags: LLM/GPU inference scaling with usage rather than seats; per-system integration into Epic / Oracle Health, PACS and departmental systems — the work that IS the product and so does not vanish at scale; and per-agent, per-site clinical validation and monitoring. Model below a pure-SaaS comparable until integration templatises.

Op margin

Not disclosedassume materially negative. A company that just raised to fund expansion, maintains an FDA regulatory function behind multiple cleared algorithms, ran a CMS code-establishment process to completion and co-authored a randomised trial is spending well ahead of a revenue line described publicly only as a ratio.

Capex intensity

Low and structurally asset-light. Bunkerhill owns no imaging hardware — every scan its algorithms read comes off the health system's capitalsupplied by GE HealthCare, Siemens Healthineers, Canon Medical or Philips. Compute is cloud/GPU opex. The corollary is standard for software running on someone else's scanner: it captures none of the imaging capital's economics and depends entirely on that installed base being used.

Valuation

n/aprivate). No post-money disclosed at any round — not the 2023 seed, not the Series A, not the July 2026 Series B — so unlike a private peer with a published round price there is not even a stale mark to stamp with a date. A valuation must NOT be inferred from the $25M round or the $55M cumulative. Aggregators carry company pages; none found publishes a sourced post-money.

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