Dive Brief:
- Aidoc has raised $150 million to further develop and commercialize an artificial intelligence model that received regulatory clearance in January.
- The financing round, which Aidoc disclosed Wednesday, will support expansion into additional clinical indications, the addition of new capabilities and global deployment of the platform.
- Aidoc has raised more than $500 million to date, with the latest round coming nine months after the company disclosed another $150 million financing round.
Dive Insight:
Aidoc received 510(k) clearance in 2024 for an AI algorithm used in the analysis of CT scans of the cervical spine. In January, the Food and Drug Administration cleared a multi-triage technology designed to detect 11 conditions, including appendicitis and liver injury, in CT images of the chest, abdomen and pelvis. The move from targeted to broadly applicable technologies reflects Aidoc’s views on AI.
Hospitals are seeking broader, system-wide solutions, shifting the market toward clinical AI deployed across entire health systems, Aidoc said in a statement about its latest financing. Foundation models are supporting the shift by providing an architecture capable of handling multiple conditions and imaging modalities.
Aidoc has worked to translate AI capabilities into regulated, real-world care by developing its own clinical foundation model, CARE, and deploying it through an enterprise platform, aiOS. The technology is used at nearly 2,000 hospitals to analyze more than 60 million patient cases annually, Aidoc said.
The company wants to expand use to prevent diagnostic errors and delays that researchers estimate contribute to hundreds of thousands of deaths and cases of serious harm each year in the U.S. To reduce that figure, the company wants every complex diagnostic decision to be supported by AI that enables earlier detection and reduces preventable errors by 2030, Aidoc CEO Elad Walach said in a statement.
Using the $150 million, Aidoc will advance “end-to-end AI across CT and X-ray, spanning the full workflow including pixel to draft report within two years,” Walach said. Automated imaging draft report creation is among the features on Aidoc’s roadmap. The company also plans to expand into more indications and drive global deployment of its aiOS platform.
Growth Equity at Goldman Sachs Alternatives led the latest financing. General Catalyst, SoftBank Vision Fund 2 and NVentures, NVIDIA’s venture capital arm, participated in the round.
