The new investment is expected to support the company’s on-going development of the Rapid platform and advanced clinical products
RapidAI, a medical imaging firm focused on stroke, has received $25m in a Series B funding round to expand its AI-enhanced cerebrovascular imaging capabilities.
The funding round was led by Lennertz & Co, a Germany-based financial institution.The funding is expected to support the company’s on-going development of the Rapid platform and advanced clinical products.
Lennertz & Co managing director Philipp Lennertz said: “We want our investment monies directed toward companies and teams that demonstrate global vision and a track record of success.
“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. We are excited to help them continue and expand on their mission.”
RapidAI offers a portfolio of stroke imaging and stroke assessment products
Established in 2011, RapidAI offers a portfolio of cerebrovascular imaging products for patient care, research, and clinical trials.
Its portfolio consists of advanced stroke imaging and stroke assessment products that are designed for hospitals of all sizes.
According to the company, RapidAI workflow and messaging technologies are aimed at saving time for stroke teams, while RapidAI analytics and business intelligence products help in reducing costs for stroke networks and improve patient outcomes.
Furhermore, the company’s Rapid platform leverages artificial intelligence to build advanced images from non-contrast CT, CT angiography, CT perfusion, and MRI diffusion and perfusion scans, enabling hospitals advance triage or transfer decisions for improved patient outcomes.
The company’s platform is said to be developed based on intelligence gained over 1,000,000 scans from more than 1,600 hospitals in over 50 countries.
RapidAI CEO Don Listwin said: “For several years, we have worked to develop and bring to market the next generation of AI-enhanced cerebrovascular imaging products. 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.
“In these difficult global times, this investment is a significant sign of support, that while others are shrinking and shuttering, we are investing and growing to help build efficient stroke networks across multi-site systems and referral networks.”