AI-enabled imaging company Aidoc announced it has secured $150 million in financing.
The round was led by General Catalyst and Square Peg, with participation from NVentures (NVIDIA’s venture capital arm) and four U.S. health systems, including Hartford HealthCare, Mercy, Sutter Health and WellSpan Health.
The round includes a $40 million revolving credit facility and brings the company’s total funding to $370 million.
WHAT IT DOES
Aidoc provides radiologists with tools to find and triage injuries and health conditions based on imaging results. It also offers coordination software for stroke and cardiovascular care, alerting relevant care team members when needed and sharing data and images.
The funds will be used to support the expansion of aiOS, Aidoc’s enterprise-grade platform, which enables health systems to deploy and govern multiple AI offerings with real-time performance monitoring and to accelerate the development of CARE, the company’s clinical-grade foundation model that helps physicians make informed clinical decisions.
"Our mission is to reduce diagnostic errors and improve patient outcomes," Elad Walach, CEO of Aidoc, said in a statement.
"CARE compresses decades of roadmap into years, bringing forward a future where AI supports every patient encounter, helping physicians provide the care they believe their patients deserve."
MARKET SNAPSHOT
Earlier this month, Advocate Health announced an agreement with Aidoc to expand the use of its AI platform, supporting faster diagnosis, earlier intervention and more connected delivery of care for patients.
Advocate Health will use Aidoc's iOS platform to integrate FDA-cleared AI algorithms into its clinical imaging workflows.
In June, Sutter Health partnered with Aidoc to integrate aiOS across Sutter's comprehensive care system, providing Sutter patients with earlier identification of critical findings, faster intervention and more connected care.
In February, Aidoc received FDA clearance for a computer-aided rib fracture triage offering (CADt AI) powered by a foundation model. CADt AI is an image processing prescription software designed to aid in prioritization and triage of radiological medical images.
The FDA clearance applies to Aidoc's Rib Fractures triage tool, which the company describes as a new version built on its CARE1 Foundation Model (Clinical AI Reasoning Engine, Version 1).
In 2023, Aidoc secured $30 million in funding. The funds were used to develop a comprehensive AI imaging model powered by imaging data, aiming to improve diagnostic precision and early detection of conditions.
