Rad AI Reels In $60 Million

SAN FRANCISCO &&num;8212&semi; Rad AI, one of the first companies to successfully commercialize a generative AI product in healthcare, announced a &dollar;60 million Series C financing round, valuing the company at &dollar;525 million&period; The oversubscribed round was led by Transformation Capital, with participation from existing investors Khosla Ventures, World Innovation Lab, UP2398, Kickstart Fund, OCV Partners, Cone Health and others&period; This raise comes seven months after their &dollar;50 million Series B financing&period;&NewLine;Radiology is the largest specialty in healthcare, accounting for nearly 10 percent of all healthcare spend in the US and more than 80 percent of all healthcare data by size, with over 700 million imaging exams performed in the US each year&period; However, as the number of annual exams rise, radiologist burnout continues to worsen – national physician surveys have found that 88&period;4&percnt; of radiologists are either at capacity or overworked and overextended&period;&NewLine;With total investment of over &dollar;140 million to date, Rad AI has emerged as a leader in generative AI solutions for healthcare&period; The company’s solutions are used by thousands of radiologists every day at health systems and radiology practices across the country that account for nearly 50&percnt; of all medical imaging done in the US&period; Rad AI was recently named the 19th fastest-growing company in North America by Deloitte in its Fast 500 rankings&period;&NewLine;&&num;8220&semi;At Rad AI, we focus on empowering physicians with AI – saving physicians time, reducing burnout and improving the quality of patient care&period; Over the past few years, Rad AI has become a mission-critical part of physician and health system workflows across North America&period; This strategic funding round will accelerate our progress as the leading AI-driven workflow platform in healthcare&period;&&num;8221&semi; &NewLine;&&num;8211&semi; Doktor Gurson, co-founder and CEO at Rad A&NewLine;&OpenCurlyDoubleQuote;Radiologists play a vital role at the center of our healthcare system, enabling early diagnosis and prevention of illness&period; Rad AI’s generative AI solutions help radiologists and other healthcare providers tackle some of our industry’s greatest challenges by significantly improving provider efficiency, alleviating burnout, and advancing the quality of patient care&period; Customers love Rad AI and we are proud to partner with their team&period;” &NewLine;-Vinay Shah, partner at Transformation Capital&NewLine;

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