Artificial intelligence-based healthcare technology developer Aidoc announced today that it raised $110 million in a Series D financing round.
Tel Aviv, Israel-based Aidoc’s latest fundraising round brings its total funding to $250 million. The company aims to use the funds to power the expansion of its Aidoc AI Care Platform designed to empower radiologists and other imaging professionals to triage potential time-critical cases and for the care team to conclude deep, actionable insights derived from imaging data, and electronic medical records.
According to a news release, Aidoc’s AI Care Platform enables hospitals to tackle the most prominent challenges, particularly in the post-pandemic scape with nursing shortages, rising supply costs and a challenging economic environment.
The AI Care Platform has 15 FDA-cleared clinical solutions, in addition to the Care Coordination application which the company designed as an intelligent layer on top of hospital IT systems, giving physicians a centralized solution to address care points, across the health system.
Aidoc boasts clinical research demonstrating the potential value in its AI solutions for giving physicians the means to manage larger patient volumes by reducing time to treatment, shortening the length of stay in the emergency department and capturing more patients requiring advanced treatments.
The Series D round to support all of Aidoc’s offerings was co-led by global growth investors TCV and Alpha Intelligence Capital (AIC). It also included participation from AIC’s co-investor CDIB Capital.
“We are building the kind of breadth and depth in AI that is allowing hospitals to fundamentally change the way they do business and provide the solutions needed to successfully compete during these challenging times” Aidoc CEO Elad Walach said in the release. “Aidoc is already the leading imaging AI platform, but with this new round of investment, our aim is to massively ramp up our AI Care Platform to cover both the various hospital medical service lines and the depth of integration into the clinical workflows, empowering hospitals to activate cross-specialty care teams and deliver the best quality of care in a scalable, efficient way to patients.”