Radiology artificial intelligence firm Aidoc raises $150M

Radiology artificial intelligence firm Aidoc has raised $150 million in new funding as it seeks to further its new AI model aimed at aiding physicians in clinical decision-making. 

This cash infusion boosts the New York-based vendor’s fundraising to $370 million since its founding in 2016, with the latest round including a $40 million revolving credit line. Aidoc said the money will accelerate development of CARE, a clinical grade foundation model. Such machine learning-based products are trained on vast amounts of data, making them adaptable to a wide range of tasks with minimal extra training. 

Those pitching in included major U.S. hospital systems Hartford HealthCare, Mercy, Sutter Health and WellSpan, along with venture capital firms General Catalyst and Square Peg. NVentures, Nvidia’s VC arm, also participating. 

"Our mission is to reduce diagnostic errors and improve patient outcomes," Elad Walach, CEO of Aidoc, said in a July 23 announcement. "CARE compresses decades of roadmap into years, bringing forward a future where AI supports every patient encounter, helping physicians provide the care they believe their patients deserve."

Aidoc has seen a recent “wave of momentum,” including U.S. Food and Drug Administration clearance of two CARE-powered AI solutions and enterprise-wide AI rollouts at Advocate Health and Sutter Health. The company currently supports radiologists and other physicians in clinical decision-making for over 45 million patients per year across 150-plus health systems worldwide. 

In addition, the funding will support the expansion of aiOS, Aidoc’s operating system for deploying and governing clinical AI “at scale.” The company said its CARE model can enable development of AI applications to address new clinical concerns “20x faster.” Within the next three years, it expects the foundation model to “massively expand,” covering 90% of clinically relevant diseases, including cancer and cardiovascular conditions. 

Aidoc plans to invest over $150 million into CARE in the coming years through partnerships with Nvidia and Amazon Web Services. The vendor previously announced a partnership with AWS in January, scoring a “significant” investment from the cloud computing platform provided by Amazon. 

“Foundation models will soon be as ubiquitous in healthcare as ChatGPT is in general use,” Michael Braginsky, co-founder and chief technology officer, said in the announcement. “Scaling clinical AI is an enormous lift—it requires top-tier talent, powerful infrastructure, deep real-world insight and sustained funding. Success isn't guaranteed, but we believe we're in a unique position to bring this vision to life, and we feel a deep responsibility to do so."

Deloitte named Aidoc to its “Fast 500” list last year at No. 86, highlighting its 1,560% revenue growth achieved between 2020 and 2023. The company boasts over 20 FDA clearances, spanning radiology, cardiology and neurology with algorithms to aid in everything from aortic dissection to incidental pulmonary embolism, intracranial hemorrhage and rib fractures.