With the new funding, Aidoc is enabled to expand its cross-speciality AI platform for medical imaging
Aidoc to address demand for AI platform. (Credit: Michal Jarmoluk from Pixabay.)
Israeli medical technology company Aidoc has secured $66m in a Series C funding round led by venture capital firm General Catalyst, bringing its total funding to $140m.
Aidoc provides artificial intelligence (AI)-powered medical imaging solutions that analyse medical images for critical conditions and reduce turnaround time for medical specialists.
It secured FDA and CE Mark approvals for its stroke, pulmonary embolism, cervical fracture, intracranial haemorrhage, intra-abdominal free gas and pulmonary embolism solutions.
With the new funding, Aidoc is enabled to expand its cross-speciality AI platform for medical imaging, taking its AI solutions to an enterprise-grade level, to obtain better outcomes.
Aidoc co-founder and CEO Elad Walach said: “This investment comes after significant milestones; expanding our product lines, doubling our FDA clearances and quadrupling our customer base.
“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.”
Aidoc’s deep learning technology works always-on, running behind the scenes and enables the medical specialists to focus on better diagnosis.
The latest funding round follows a rise in demand for Aidoc’s AI-driven solutions, including the clinical deployment of AI in healthcare through its partnership with radiology partners.
According to a study conducted by top health systems, Aidoc’s solutions have shown a correlation with reduction of length of stay in the ED and Inpatient settings.
General Catalyst managing director Chris Bischoff said: “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.
“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.”