Teleradiology Startup Nines Raises $16.5 Million

Nines, an artificial intelligence-powered teleradiology startup, received $16.5 million in Series A funding from VC firms Accel and 8VC. Lori Goler, former Deutsche Bank COO Kim Hammonds and Veritas founder and former CEO Mark Leslie, also participated in the round.

Nines provides teleradiology services that is staffed by live radiologists and is supported by partnerships with some of the top hospitals and radiologists, including Mount Sinai Health System.

“Radiology exams are becoming ever more detailed and complex with advancements in imaging technology, which in turn increases the workload on radiologists,” said Dr. Kagen in a company press release. Dr. Kagen will serve as Chief Medical Officer for Nines in addition to his role at Mount Sinai. “Radiologists need to be at the forefront of reimagining the future of medicine. Nines is a place where radiologists are empowered to build technology that unlocks the next level of patient care.”

The company also unveiled a software intended for triage of cytotoxic edema, hemorrhage, and mass effect, all of which are time-sensitive. The company said it is also in talks with the FDA regarding its Emergent Neuro Suite products.

Similar technologies that received funding: 

Enlitic, a developer of AI-enabled analytics algorithms to streamline medical imaging workflows for radiologists, raised $25 million.

Kheiron Medical Technologies, a developer of AI-enabled breast screening software that supports radiologists to detect early signs of breast cancer using deep learning, raised $22 million.

Aidence, developer of an AI-enabled automated pulmonary nodule management assistant for radiologists to better spot and track changes in pulmonary nodules, raised €10 million (~$11.3 million).

Since 2012, over 30 radiology companies received close to $600 million in VC funding, according to Mercom’s Digital Health Funding Tracker.