This week Aidoc announced that they have raised $110 million in their Series D expansion round. This round of funding was co-led by TCV and Alpha Intelligence Capital with participation from CDIB Capital. Funding raised in this round will go toward expansion of Aidoc's first of its kind AI Care Platform. The platform offers health systems a singular platform solution designed to help doctors manage the entire patient lifecycle--from diagnostic aid, to consultation, to suggested treatment paths, to patient follow-up tools. In clinical studies, this platform has proven to reduce turnaround time, shorten patient length of stay and improve patient outcomes.
AI-enabled imaging company Aidoc scooped up $110 million in a Series D funding round. The round was led by TCV and Alpha Intelligence Capital with participation from AIC's co-investor CDIB Capital. The investment, which comes nearly a year after the startup announced its $66 million Series C, brings Aidoc's funding pot to $250 million. Aidoc offers tools that help radiologists find and triage injuries and health conditions based on imaging results. It also provides coordination software for stroke and cardiovascular care, alerting relevant members of the care team and sharing data and images.
One of the many benefits of being a clinician-led fund is that we can understand the day-to-day realities of medicine and the challenges that clinicians face. A hard truth is that medical professionals are not just striving to improve patients' health, but are often battling against time. This is particularly true in the emergency room, where the most common procedure is the radiology exam. A staggering 400 million images are produced every year, worldwide for traumatic injuries and it is the responsibility of radiologists to make sure nothing is missed. This understanding of the pressures faced by radiologists and the technological solutions that are needed has led Crista Galli Ventures to make our first investment in France, into Gleamer.
An emerging artificial intelligence (AI) software that reportedly reduces false negative rates for fractures by 29 percent has received FDA clearance. BoneView AI (Gleamer) detects fractures on X-rays, highlights regions of interest and submits them to radiologists for confirmation, according to the French company Gleamer. The company said the algorithm was designed to aid a variety of physicians who read X-rays in clinical practice. Noting that traumatic injuries account for one-third of visits to emergency rooms (ERs), Gleamer noted that errors with fracture interpretation, which are common during evening hours, can represent up to 24 percent of harmful diagnostic errors in the ER. The company said these errors may result from fatigue and non-expert reading of X-rays.
Tel-Aviv based start-up Aidoc, a leading provider of Artificial Intelligence solutions for radiologists, received US Food and Drug Administration (FDA) clearance for its AI solution that spots strokes (Large-Vessel Occlusion) in the brain during head CTA scans.An LVO is the blockage of vessels in the brain, and according to Ariella Shoham, Aidoc's vice president of marketing, the AI technology "uses deep learning to automatically look at every head CT before a patient has even left the imaging room. "It investigates the images to see if they show blocked blood vessels in the brain or bleeding (intracranial hemorrhages)," she explained. "If one of these time-critical conditions is found, Aidoc re-prioritizes the worklists of radiologists so that the urgent scan is looked at immediately and the patient can be treated quickly."Shoham said that Aidoc already received FDA clearances to identify and flag pulmonary embolism (blockages in the lungs) and cervical spine fractures (broken neck). "Other Aidoc solutions currently in clinical testing include identifying air in the abdomen," she continued. "Altogether, Aidoc is targeting the most common critical life-threatening conditions that make up 80% of all urgent cases on CT scans.