Viz.ai, which has developed AI algorithms for analyzing scans, today announced that it has closed a $71 million Series C financing round led by Scale Venture Partners and Insight Partners, with participation from Greenoaks, Kleiner Perkins, Threshold Ventures, CRV, Innovation Endeavors and Susa Ventures. This round brings to over $150 million the amount raised by the company.
Viz.ai, which has 170 employees in its offices in Tel Aviv and San Francisco has developed algorithms that can read scans and draw the attention of medical professionals to the fact that the patient may need special treatment. The company algorithms currently specialize in strokes and but the company hopes to extend its expertise to other areas of acute care such as cardiology, pulmonary and trauma.
Viz.ai cofounder and CTO Dr. David Golan said, "The patient can go into a scan within 20-30 minutes, that's not where the bottleneck is. But until the scan is interpreted and a decision is taken to transfer the patient to the hospital for neurological catheterization and until contact is made with the relevant hospital and the patient is transferred, we are losing a lot of time. Every hour of delay means more long months of rehabilitation from disability or even irreversible disability."
Viz.ai’s flagship product, Viz LVO, leverages advanced deep learning to communicate time-sensitive information about stroke patients straight to a specialist who can intervene and treat. Viz LVO achieved 96% sensitivity and 94% specificity in identifying large vessel occlusions in 2,544 consecutive patients from 139 hospitals using scanners from multiple manufacturers. Faster triage with Viz LVO enables the identification and triage of more patients who are eligible for thrombectomy, which not only improves patient outcomes and reduces disability, but also is reimbursed at approximately three times the rate than medically managed stroke.
Viz.ai cofounder and CEO Chris Mansi said, "This latest round of funding validates the potential of Viz.ai’s technology, both in and beyond stroke care coordination. The investment will allow us to expedite our effort to bring the power of artificial intelligence and advanced mobile technology to prevent care breakdowns, improve patient outcomes and experience, and improve economics across the entire health system both in the US and Europe."
Published by Globes, Israel business news - en.globes.co.il - on March 17, 2021
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