Medical Imaging Startup RapidAI Raises $25 Million

RapidAI, an AI-powered cerebrovascular imaging platform, raised $25 million in a Series B round led by Lennertz.

The additional funds will be used to accelerate strategic growth initiatives and support the imaging platform and clinical products’ continued advancement, the company said.

“RapidAI’s vision to massively improve stroke and other cerebrovascular care through AI, and other medical imaging innovations, has known no borders and brought measurable improvement to patient care worldwide,” said Philipp Lennertz, Managing Director of Lennertz.

The company offers end-to-end advanced stroke imaging and stroke assessment products for hospitals. Its platform uses artificial intelligence to create high quality, advanced images from non-contrast CT, CT angiography, CT perfusion, and MRI diffusion and perfusion scans, helping hospitals to speed up time-critical triage or transfer decisions and facilitate better patient outcomes.

“For several years, we have worked to develop and bring to market the next generation of AI-enhanced cerebrovascular imaging products,” said RapidAI CEO Don Listwin. “We have been rewarded for that dedication with sustained growth and uninterrupted profitability since going to market. In the last year, we have expanded our scope from ischemic stroke to hemorrhagic stroke, and with the recent acquisition of EndoVantage, we now address aneurysm.”

Medical Imaging companies raised $240 million in the first half of 2020, according to the latest report from Marcom. Recently, Cloud-based AI-powered medical imaging platform Arterys raised $28 million in a Series C funding round led by Temasek Holdings and Benslie Investment Group with participation from Fosun, Revelation Partners, Emergent Medical Partners, and Varian Medical Systems. Ezra, a medical imaging company that provides cancer screening solutions, raised $18 million in Series A funding. FirstMark Capital, an early-stage venture capital firm, led the financing round.