RapidAI raises $75M in series C financing
Imaging artificial intelligence supplier RapidAI has raised $75 million in new capital to support its growth initiatives, company leaders announced July 27.
Investment firm Vista Credit Partners led the series C funding round, which will help the San Mateo, California-based startup tackle more diseases and add further functions to its platform. Co-founded by Stanford neurologist Gregory W. Albers, MD, in 2011, RapidAI offers software aimed at helping physicians diagnose and treat strokes, aneurysms and pulmonary embolisms.
“RapidAI is playing an outsized role in advancing patient care for life-threatening diseases with innovative clinical AI solutions,” David Flannery, president of Vista Credit Partners—which is focused on the enterprise software, data and technology markets—said in an announcement. “We look forward to our partnership and helping the company realize its next phase of growth.”
The vendor has now raised $100 million to date, with RapidAI now surpassing 10 million scans analyzed on its platform across 2,200-plus hospitals in over 100 countries. Albers and colleagues recently earned U.S. Food and Drug Administration clearance for the “first and only” AI-powered device used to identify suspected intracranial hemorrhage and large vessel occlusion via imaging.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.