RapidAI Raises Funding to Address More Disease States and Accelerate Growth

August 2, 2023—RapidAI, a developer of artificial intelligence (AI) and technology workflow solutions to for treating neurovascular, cardiac, and vascular diseases, recently announced $75 million in Series C funding that the company will use to drive platform innovation to support more disease states and go-to-market functions to accelerate growth in new regions and product verticals.

RapidAI’s portfolio of stroke solutions includes Rapid NCCT Stroke, which uses AI for analyzing noncontrast CT (NCCT) images to detect suspected intracranial hemorrhage and large vessel occlusion of the distal internal carotid artery and middle cerebral artery. The company announced FDA clearance for Rapid NCCT Stroke in April 2023.

According to the company, Rapid NCCT Stroke provides hospitals of all sizes and imaging capabilities greater access to imaging and decision support to address a wider population of patients.

Additionally, RapidAI has expanded into new disease states with FDA-cleared modules for cerebral aneurysm management and the identification and notification of suspected central pulmonary embolism. The company is also developing modules for other disease states.

The Series C funding was led by Vista Credit Partners, a subsidiary of Vista Equity Partners and strategic financing partner focused on the enterprise software, data, and technology markets.

“Hospitals are increasingly looking for RapidAI solutions to solve their critical needs, including helping care teams work more efficiently and support clinical decision-making for better patient outcomes,” stated Karim Karti, CEO of RapidAI, in the company’s press release. “RapidAI’s advanced clinical decision support (CDS) software goes beyond simple triage and notification to provide specific, relevant, and contextual data with tremendous accuracy to satisfy these demands.”

Karti added, “Vista Credit Partners’ support and access to their expertise will advance our vision, technological innovation, and go-to-market efforts as we further establish our leadership position in clinical AI solutions for life-threatening diseases.”