Israeli AI radiology co Aidoc raises $20m

Elad Walach  / Photo: Guy Schreiber , PR

Aidoc’s comprehensive suite of AI solutions for radiology includes six FDA-cleared products for flagging acute abnormalities directly in the radiology workflow.

Israeli AI solutions for radiologists company Aidoc today announced it has raised an additional $20 million as part of its Series B extension financing round. This brings the total raised by the company to $60 million to date. The company also announced that it had tripled revenue since the beginning of 2020.

Aidoc’s comprehensive suite of AI solutions for radiology includes six FDA-cleared products for flagging acute abnormalities directly in the radiology workflow. The company has undergone a rapid global expansion, now serving more than 400 health centers in five continents.

Aidoc cofounder and CEO Elad Walach said, "As healthcare organizations work through case backlogs and prepare for a different future - solutions that can show improved operational efficiency and increased revenue potential are being prioritized. Our solutions have augmented radiologists to provide the highest standard of care, reducing turnaround time, and helping save lives for over 3 years now and this funding allows us to continue expanding our comprehensive portfolio as well as facilitate our rapid expansion into additional practices across the globe."

Square Peg Capital partner Dan Krasnostein said, "The value AI brings in supporting radiologists is so obvious to us and Aidoc has stamped itself as a clear leader in the space. Since our first investment the company has continued to make giant steps forward with new products brought to market and a significant increase in the number of customers they serve. Supporting a business that is improving patient care and saving lives on a daily basis is incredibly exciting."

en.globes.co.il - on September 16, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Elad Walach  / Photo: Guy Schreiber , PR
Elad Walach / Photo: Guy Schreiber , PR
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