Braid Health, an AI-powered diagnostic imaging platform, raised $9 million in seed and Series A investment rounds.
With the latest funds, the company plans to hire new talent and expand its virtual diagnostic imaging platform to improve care delivery and drive cost out of the system.
The company offers an end-to-end teleradiology platform for urgent care centers, health systems, and retail pharmacies.
Lux Capital, a healthcare-focused venture capital firm, led the financing round. Since 2013, the firm has invested over $350 million in over 20 digital health companies, including Vesta Healthcare, Pager, and Rivet Health.
“Since our founding in 2018, Braid Health has been committed to delivering expert diagnosis at significantly lower costs and faster turnaround times,” said Kevin Quennesson, CEO and co-founder of Braid Health. “Today, as we reinvent the imaging experience and enhance diagnostic accuracy by bringing expanded capabilities to market, we are honored to have the support of visionary investors who believe in our mission of universal access to medical expertise.”
Venture capital firms 01 Advisors, formed by top Twitter executives Dick Costolo and Adam Bain, and Rucker Park Capital, also participated in the seed financing round.
Medical Imaging companies raised $79 million in Q1 2020, according to Mercom Q1 2020 Digital Health Funding Report. Recently, Smart Reporting, a cloud-based AI-powered medical image analysis and reporting platform raised $16.2 million in a funding round, led by early-stage German venture capital firm yabeo, with participation from entrepreneurs, including Ann-Kristin Achleitner, Wolfgang Reitzle, and Rolf Dienst.
Headquartered in San Francisco, the startup was founded in 2018 by Kevin Quennesson, and Alessandro Sabatelli (lead designers and developers of the Apple Watch, iPhone, and Siri) has raised $12 to date, including $3 million initial investment in 2018, which was led by Lux Capital.