Total amount raised
$143 Millions
Latest funding date
Location
Rad AI has successfully raised $60 million in a Series C funding round, attracting significant interest from investors. The company offers AI-driven solutions designed to improve radiology workflows, reduce burnout, and enhance patient care.
Keep reading to explore the intricacies of Rad AI's fundraising journey and the investors backing this innovative platform.
What Is Rad AI?
Rad AI, founded in 2018, is based in San Francisco, California. The company was established by Doktor Gurson and Jeff Chang.
Specializing in AI solutions for radiology, Rad AI aims to enhance efficiency, reduce burnout, and improve patient care. Their platform integrates seamlessly with existing workflows to automate repetitive tasks.
With a team of 101-250 employees, Rad AI continues to innovate in the field of radiology, offering products like Rad AI Reporting, Rad AI Impressions, and Rad AI Continuity.
How Much Funding Has Rad AI Raised?
- Seed Round
- Amount Raised: $8M
- Date: August 2020
- Lead Investors: Gradient, Kickstart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial AI solutions and establish a foothold in the radiology market.
- Series A
- Amount Raised: $25M
- Date: November 2021
- Lead Investors: Artis Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and scale operations.
- Series B
- Amount Raised: $50M
- Date: May 2024
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI capabilities and increase market penetration.
- Series C
- Amount Raised: $60M
- Date: January 2025
- Lead Investors: Transformation Capital
- Valuation at Round: $525M
- Motivation Behind the Round: To accelerate progress as a leading AI-driven workflow platform in healthcare.
Total amount raised: $143M. Current valuation: $525M.
Key Investors
- Transformation Capital
- Details: Transformation Capital is a Boston-based growth equity firm. They led Rad AI's Series C funding round.
- Investment Focus Areas: Healthcare, technology, growth-stage companies.
- Notable Investments: Not publicly disclosed.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm known for investing in transformative technology and healthcare startups. They led Rad AI's Series B funding round.
- Investment Focus Areas: Technology, healthcare, sustainability.
- Notable Investments: Square, DoorDash, Impossible Foods.
- Artis Ventures
- Details: Artis Ventures is a venture capital firm that invests in early to growth-stage companies. They led Rad AI's Series A funding round.
- Investment Focus Areas: Life sciences, technology, healthcare.
- Notable Investments: Stemcentrx, YouTube, Palantir.
- Gradient
- Details: Gradient Ventures is Google's AI-focused venture fund. They were a lead investor in Rad AI's seed round.
- Investment Focus Areas: Artificial intelligence, machine learning, early-stage startups.
- Notable Investments: Not publicly disclosed.
- Kickstart
- Details: Kickstart is a venture capital firm that focuses on early-stage investments. They were a lead investor in Rad AI's seed round.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Podium, Lucid Software, Cotopaxi.
What's Next for Rad AI?
Rad AI stands at the cusp of significant growth, driven by the increasing adoption of AI in healthcare. With nearly 50% of U.S. health systems already using their technology, the company is well-positioned to expand its AI-driven workflow solutions further. The potential to automate routine tasks and reduce physician burnout presents a substantial opportunity for Rad AI to enhance patient care and efficiency in radiology practices.
Future fundraising opportunities appear promising, with the company already valued at $525 million. As Rad AI continues to innovate and scale, additional venture capital rounds or strategic partnerships could be on the horizon. However, challenges such as competition from other AI firms and navigating regulatory requirements will need to be addressed to maintain their growth trajectory.
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