Rad AI Reels In $60 Million

<p><strong>SAN FRANCISCO <&sol;strong>&&num;8212&semi; Rad AI&comma; one of the first companies to successfully commercialize a generative AI product in healthcare&comma; announced a &dollar;60 million Series C financing round&comma; valuing the company at &dollar;525 million&period; The oversubscribed round was led by Transformation Capital&comma; with participation from existing investors Khosla Ventures&comma; World Innovation Lab&comma; UP2398&comma; Kickstart Fund&comma; OCV Partners&comma; Cone Health and others&period; This raise comes seven months after their &dollar;50 million Series B financing&period;<&sol;p>&NewLine;<p>Radiology is the largest specialty in healthcare&comma; accounting for nearly 10 percent of all healthcare spend in the US and more than 80 percent of all healthcare data by size&comma; with over 700 million imaging exams performed in the US each year&period; However&comma; as the number of annual exams rise&comma; 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;<&sol;p>&NewLine;<p>With total investment of over &dollar;140 million to date&comma; 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;<&sol;p>&NewLine;<p>&&num;8220&semi;At Rad AI&comma; we focus on empowering physicians with AI – saving physicians time&comma; reducing burnout and improving the quality of patient care&period; Over the past few years&comma; 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;<br &sol;>&NewLine;&&num;8211&semi; Doktor Gurson&comma; co-founder and CEO at Rad A<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Radiologists play a vital role at the center of our healthcare system&comma; 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&comma; alleviating burnout&comma; and advancing the quality of patient care&period; Customers love Rad AI and we are proud to partner with their team&period;”<br &sol;>&NewLine;-Vinay Shah&comma; partner at Transformation Capital<&sol;p>&NewLine;