Aidoc Closes Series C Financing Round to Expand Commercialization of Its AI Platform for Medical Imaging

July 13, 2021–Aidoc, a provider of artificial intelligence (AI) solutions for medical imaging, announced a $66 million investment, which the company will use to expand its cross-specialty AI platform for medical imaging. The Series C round of funding, which brings Aidoc’s total funding to $140 million, was led by the venture capital firm General Catalyst.

According to Aidoc, its FDA-cleared solutions analyze medical images for critical conditions and trigger actionable alerts directly in the imaging workflow, supporting medical specialists in reducing turnaround time and improving quality of care. In data presented by Michelle A. Davis, MD, et al in December 2019 at the Radiological Society of North America’s annual conference, Aidoc’s solutions showed a correlation with reduction of length of stay in the emergency department and inpatient settings. The technology flags the most critical cases, leading to a faster diagnosis and treatment.

“This investment comes after significant milestones: expanding our product lines, doubling our FDA clearances, and quadrupling our customer base,” commented Aidoc Cofounder and Chief Executive Officer Elad Walach in the announcement. “We are experiencing a huge expansion, which is also a direct result of C-level executives adopting an AI strategy and integrating our platform as a must-have solution across clinical pathways. It is truly rewarding—and a great responsibility—to be the trusted partner of the most innovative health systems and physician practices across the globe.”