Aidoc, an AI company that helps doctors make quick decisions in hospitals, has raised $150 million. The company is now valued higher than it was in its last funding round and has raised a total of $370 million so far.
Aidoc’s latest funding round is a big step forward for the company. NVentures, the investment arm of NVIDIA, has joined as an investor for the first time. The round was co-led by General Catalyst and Square Peg, along with support from several large U.S. healthcare systems.
About $40 million of the total funding came from a revolving credit facility. Aidoc plans to use the money to speed up work on its new AI system, called CARE, which powers two recently FDA-approved products and builds on many earlier approvals.
Aidoc’s CTO said: “We saw an opportunity with our new technology to move faster. With our previous technology, we tackled one disease at a time. Now, the mapping rate is significantly faster. What used to take decades now takes far less time; we can build each algorithm ten times faster. We used to develop one or two algorithms a year; this year alone, we’ve created fifteen, providing doctors with more comprehensive insights into patient conditions. Revenue from the new technology already surpasses everything we’ve done in recent years. Within a year, we expect to exceed the total of the last nine years.”
“NVIDIA saw the results of our research, which lasted more than two years. They’re all in, because this is a huge boost for AI,” Braginsky added. “They’re looking for new markets and applications. The funding will help us build this new technology and expand the platform to enable more AI companies to plug in. We already have seven AI companies on our platform.”
Aidoc was founded in 2016 by its CEO Elad Walach, CTO Michael Braginsky, and VP of R&D and CISO Guy Reiner, all three graduates of the IDF’s Talpiot program.
Aidoc runs one of the most advanced AI research centers in the world for healthcare. Its technology is used in thousands of hospitals globally, including most hospitals in Israel. The platform has FDA-approved tools that can quickly spot and alert doctors about serious health issues like brain bleeds, strokes, aneurysms, fractures, and more.
Right now, Aidoc helps care for over 45 million patients each year. The company plans to double that number and reach around 100 million patients within the next three years.
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