Radiologist-founded firm using artificial intelligence to alleviate burnout raises $25M
Rad AI, a radiologist-founded firm using artificial intelligence to alleviate burnout, has raised $25 million, officials announced Wednesday.
San Francisco-based Artis Ventures investment firm led the Series A financing with additional contributions from existing backers such as Gradient Ventures, Google’s AI-focused fund. The money will go toward further developing Rad AI’s initial offerings, used for auto-generating impressions from radiologists’ dictations and aiding in incidental findings follow up.
“AI is now serving as a critical skill multiplier for physicians, allowing for significant improvements in patient outcomes and overall healthcare costs," Stuart Peterson, managing partner of Artis Ventures, said in a statement.
Radiologist Jeff Chang, MD, co-founded Rad AI in 2018, and the Berkley, California-based company has seen rapid growth since, with 7 of the 10 largest U.S. practices using its solutions.
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.