September 17, 2020
RapidAI Gains Funding to Expand AI-Enhanced Cerebrovascular Imaging Products
September 17, 2020—RapidAI announced a $25 million Series B round of funding by Lennertz & Co. that will be used to accelerate strategic growth initiatives around the world for the company's advanced cerebrovascular imaging products for patient care, research, and clinical trials.
According to the company, this funding will support the continued advancement of the Rapid platform and clinical products with workflow and messaging technologies, and analytics and business intelligence products.
RapidAI's portfolio is composed of advanced stroke imaging and stroke assessment products, including Rapid ICH, Rapid ASPECTS, Rapid CTA, Rapid LVO, Rapid CTP, and Rapid MRI. RapidAI also offers SurgicalPreview, a comprehensive aneurysm management platform.
The Rapid platform uses artificial intelligence to create high-quality images from noncontrast CT, CT angiography, CT perfusion, and MRI diffusion and perfusion scans, helping hospitals to speed up time-critical triage or transfer decisions and facilitate better patient outcomes, the company notes.
Professor Olav Jansen, MD, from the Department of Radiology and Neuroradiology, UKSH Campus Kiel, in Kiel, Germany, commented in the company's announcement, "Since RapidAI cofounders, Dr. Albers and Dr. Bammer, presented research that dramatically grew stroke treatment guidelines globally, thousands of other clinicians and I have been able to address more patients and achieve better outcomes. With the Rapid platform’s wide array of AI-enhanced imaging technologies, we have seen opportunities for effective care grow daily.”
Don Listwin, CEO of RapidAI, stated, “For several years, we have worked to develop and bring to market the next generation of AI-enhanced cerebrovascular imaging products. We have been rewarded for that dedication with sustained growth and uninterrupted profitability since going to market. In the last year, we have expanded our scope from ischemic stroke to hemorrhagic stroke, and with the recent acquisition of EndoVantage, we now address aneurysm. In these difficult global times, this investment is a significant sign of support, that while others are shrinking and shuttering, we are investing and growing to help build efficient stroke networks across multisite systems and referral networks.”