Aidoc Raises $27M for AI Imaging Tool

Samara Rosenfeld

The startup wants to expand its software suite by releasing an oncology line of products.

Aidoc, a provider of artificial intelligence (AI) solutions for radiologists, today announced a $27 million investment to grow Aidoc’s software suite.

The Tel Aviv-based startup also plans to use the funding to grow its go-to-market team to support the market demand for its products.

Last year, the company earned approval from the U.S. Food and Drug Administration for its deep learning tool that can identify certain hemorrhages based on images of the brain. The solution is always running behind the scenes so radiologists can focus more on the diagnosis, and flags the most critical, urgent cases that demand faster diagnosis and treatment.

Aidoc also announced that it has analyzed its millionth CT scan in real-time, which it claims is the largest number of images analyzed by an AI tool and a landmark in the radiology AI ecosystem.

The startup is looking to expand the reach of its technology by releasing an oncology line of products for time-sensitive imaging conditions.

Elad Walach, co-founder and CEO of Aidoc, said the company, which is already working with 100 sites, aims to reach 500 hospitals in the next two years.

Aidoc’s results are clinically proven, as Walach believes it is necessary to provide public visibility of the real-life clinical impact of AI so the technologies can continue to be adopted in the medical field.

Founded in 2016, Aidoc has now raised a total of $40 million. The Series B funding round was led by Square Peg Capital.

Get the best insights in healthcare analytics directly to your inbox.

Related

How AI Is Shaking Up Healthcare, Beyond Diagnostics

AI Algorithm Predicts Risk of FH with High Accuracy

The ACR Launches AI-Lab to Empower Radiologists to Learn About AI