Harrison.ai revenue hit $4.75m ahead of $178m raise
AI health startup Harrison.ai has posted modest revenue and a paper profit, driven by a windfall from its now fully owned subsidiary, Annalise.ai.
New filings from Harrison.ai reveal the startup generated $4.75 million in revenue for the financial year ending 30 June 2024 — a rare glimpse into one of Australia’s most hyped AI ventures.
Harrison.ai reported a net profit of $4.4 million for the year, though this figure is largely driven by the swelling valuation of its Annalise.ai subsidiary. Excluding that $47.65 million windfall, the startup posted a loss of $43.26 million thanks to a growing workforce.
Harrison.ai is one of Australia’s hottest artificial intelligence startups. In February, it announced a $178 million (USD112 million) Series C funding round, with backers including Blackbird, the National Reconstruction Fund, Aware Super and Hong Kong’s Horizon Ventures. Tesla chair Robyn Denholm sits on its board.
The company fully acquired Annalise.ai — a subsidiary it initially launched with I-MED Radiology — in March 2024. Previously, Harrison.ai owned 40% of the venture, according to the filings. This likely explains the $47.65 million “gain on derecognition of investment in joint venture” recorded on the balance sheet.
