Exclusive: Clinical AI provider Aidoc raises $150M Series E
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Aidoc, a clinical AI medical imaging provider, raised $150 million in Series E funding, CEO Elad Walach tells Axios Pro exclusively.
The big picture: Radiology is one of AI's earliest and most established use cases at scale in health care.
Follow the money: Goldman Sachs Alternatives' growth equity division led the round. General Catalyst, SoftBank Investment Advisors and NVentures, NVIDIA's venture capital arm, joined.
- Aidoc has raised $520 million to date, with TCV and Alpha Intelligence Capital among the other investors. The company declined to disclose valuation or whether any existing investors sold shares.
- Proceeds will help Aidoc navigate the notoriously expensive regulatory approval process and invest in building a large, comprehensive AI model, Walach says.
How it works: The company's AI can read and flag incidental findings on CT scans and X-rays. Its use cases include emergency department triage and identifying abnormalities on abdominal scans, such as liver and spleen injuries and appendicitis.
- Dually headquartered in Israel and New York, Aidoc has also built a foundation model that allows customers to deploy tools from third-party companies.
What we're watching: Walach says Aidoc aims to IPO in three to five years.
State of play: Aidoc faces competition from both incumbents and startups, as dealmaking in the space continues.
- GE HealthCare has made a number of buys since spinning off GE, and it completed a $2.3 billion acquisition of Intelerad last month.
- Siemens Healthineers launched its own radiology services suite designed to assist providers with scheduling, reporting and image generation last year.
- RadAI raised a $60 million Series C last month led by Transformation Capital, valuing the company at $525 million.
By the numbers: Aidoc has received 31 FDA clearances for uses cases ranging from emergency department triage to detecting conditions on abdominal scans.
- Nearly 200 U.S. health systems have deployed its tools and more than 1,600 hospitals worldwide, per Aidoc.
