Medical imaging tech developer Aidoc announced today that it raised an additional $20 million as part of a Series B extension round.
New York-based Aidoc said in a news release that the announcement comes on the back of tripled revenues since the beginning of 2020, while the latest funding brings its total financing to $60 million to date, according to a news release.
Aidoc develops a suite of artificial intelligence solutions for radiology, including six FDA-cleared products for flagging acute abnormalities directly in the radiology workflow.
The company currently serves more than 400 health centers across five continents and touts that its partners claim they’ve seen value in turnaround time and ease of deployment within their clinical environment.
“I am encouraged to see that recent changes in the healthcare world helped crystalize the value of AI,” Aidoc co-founder & CEO Elad Walach said in the release. “As healthcare organizations work through case backlogs and prepare for a different future – solutions that can show improved operational efficiency and increased revenue potential are being prioritized.
“Our solutions have augmented radiologists to provide the highest standard of care, reducing turnaround time, and helping save lives for over three years now and this funding allows us to continue expanding our comprehensive portfolio as well as facilitate our rapid expansion into additional practices across the globe.”