Aidoc, an AI-powered medical imaging company, announced a $66 million investment round, bringing its total funding to $140 million.
General Catalyst led the Series C round. With the new funding, Aidoc plans to expand its AI platform for medical imaging platform worldwide.
According to Aidoc, its FDA-cleared solutions analyze medical images for critical conditions and trigger actionable alerts directly in the imaging workflow, supporting medical specialists in reducing turnaround time and improving quality of care. The platform supports medical specialists to help flag anomalies in real-time, expediting patient treatment and improving quality of care.
Aidoc said its AI platform is currently used by radiologists in health networks, hospitals, and radiology groups worldwide and has analyzed over 8 million cases to date.
“This investment comes after significant milestones; expanding our product lines, doubling our FDA clearances, and quadrupling our customer base,” said Aidoc co-founder and CEO Elad Walach.
Elad Walach added: “We are experiencing a huge expansion, which is also a direct result of C-level executives adopting an AI strategy and integrating our platform as a must-have solution across clinical pathways. It is truly rewarding – and a great responsibility – to be the trusted partner of the most innovative health systems and physician practices across the globe.”
“At General Catalyst, we believe in addressing the big challenges in healthcare, and it is clear to us that Aidoc has both a bold vision to use AI to set a new standard of care in medical imaging and a concrete plan to reach that,” said Chris Bischoff, Managing Director at General Catalyst. “The fast growth in adoption of Aidoc’s platform by leading systems and providers reinforces its market leadership and demonstrates the effectiveness of its technology and workflow solutions.”
Digital health companies raised $7.2 billion in Q1 2021, according to Mercom’s Q1 2021 Digital Health Funding and M&A Report. Cleerly, an AI-powered medical imaging company creating a new standard of care for coronary artery disease, raised $43 million in Series B funding.