Aidoc, a clinical AI company founded in Israel and widely used worldwide, has raised $150 million in a Series E round led by Goldman Sachs Alternatives’ Growth Equity.
General Catalyst, SoftBank Vision Fund 2, and NVentures, Nvidia’s venture capital arm, also joined the round. With this latest investment, Aidoc’s total funding is now over $520 million.
Axios, which first reported the story, says Aidoc is considering an IPO after this funding round.
Aidoc was founded in Tel Aviv in 2016 by Elad Walach, who is also the CEO. Over the past decade, the company has focused on building both regulatory credibility and new technology. Although this took longer than it would for software-only companies, it now gives Aidoc a strong advantage.
Aidoc’s CARE foundation model works with various imaging modalities, such as CT and X-ray, and runs on its aiOS platform, which connects directly to hospital systems. The platform has reviewed more than 110 million patient cases in almost 2,000 hospitals, helping doctors make decisions for about 60 million patients each year.
There is strong competition in this field. Viz.ai raised $100 million in 2022 and focuses on AI for stroke and heart conditions. Nuance, which is now part of Microsoft, leads in radiology reporting with Dragon Medical. Rad AI creates AI-generated radiology reports, and Subtle Medical works on improving imaging quality. Each company focuses on a different iOS argument.
Aidoc maintains that it operates a single platform that manages multiple AI tools across the entire imaging workflow, and is better positioned than point solutions that require separate integrations for each disease area.
“Aidoc pairs advanced technology with regulatory rigour in a way that few companies have achieved. Health systems consistently describe tangible results, including improved radiology efficiency, shorter lengths of stay, and measurable financial returns. We believe this combination of innovation, safety, technical rigour, and operational discipline positions Aidoc as a long-term leader in clinical AI,” says Christian Resch, Partner at Growth Equity at Goldman Sachs Alternatives.
The $150 million investment will help Aidoc cover more diseases and build automated draft-reporting features within the next 2 years.
