Diagnostic Robotics announced recently that it closed a $45 million Series B funding round.
The artificial intelligence (AI) and care management solution developer had its Series B round led by StageOne investors. Mayo Clinic also participated, making the Israel-based firm a Mayo Clinic portfolio company.
According to a news release, Technion — Israel Institute of Technology and other existing investors also participated, along with strategic angel investor Bradley Bloom, the co-founder of Berkshire Partners.
Diagnostic Robotics said that it plans to accelerate its product development and its go-to-market growth, with planned investment in sales and marketing, plus other key hires across the organization. The company said its already experienced significant growth over the course of this year, tripling its revenues year-over-year since 2020.
“Diagnostic Robotics is using the most precise predictive models, leveraging nuanced definitions of risk and shifting focus away from purely risk-based targeting to clinically-actionable targeting to not only change how health plans approach their members, but to drastically improve member clinical care journeys,” Diagnostic Robotics CEO Dr. Kira Radinsky said in the release.
Radinsky, who previously was Ebay’s director of data science and chief scientist in Israel, is also a visiting professor at the Technion – Israel Institute of Technology and was previously a board member at HSBC as a leading expert in AI.
The company she now runs has, to date, engineered predictive models focused on avoidable emergency room visits, prevention of congestive heart failures deterioration, and serious mental illness, among others. Further models and other platforms are in development as well as the company looks to expand its product offering.
“We are incredibly excited to be partnering with Kira and the team as they expand and change the way health plans address risk, while helping to drive immensely improved care management for members,” said Yossi Vinitski of StageOne Ventures.