

Healthcare startup Rad AI announced today it raised $60 million in a Series C funding round led by Transformation Capital to deploy generative artificial intelligence technology for healthcare providers.
Existing investors Khosla Ventures, World Innovation Lab, UP2398, Kickstart Fund, OCV Partners and Cone Health also participated in the round. The raise comes seven months after the company brought in $50 million in a Series B round, bringing the total investment to over $140 million to date.
Rad AI’s software works with radiologists, medical specialists who use imaging techniques to diagnose and treat diseases using radiation, magnetic fields and ultrasound. Anyone who has visited a clinic or hospital and had an X-ray, CT scan or MRI has participated in radiology as a patient. It is one of the largest specialties in healthcare, accounting for more than 10% of all spending.
According to Rad AI, radiologists generate more than 700 million images per year in the United States alone and account for 80% of healthcare data. Collating and analyzing that data puts a tremendous burden on radiologists, which leads to an increasing issue among employees with burnout.
“At Rad AI, we focus on empowering physicians with AI – saving physicians time, reducing burnout and improving the quality of patient care,” said co-founder and Chief Executive Doktor Gurson. “Over the past few years, Rad AI has become a mission-critical part of physician and health system workflows across North America.”
Rad AI developed the first large language models for medical assistance in 2018 and launched its generative AI product for radiology, Rad AI Impressions, in 2019. Impressions automatically recommends “impressions,” or a summary of the findings and conclusions regarding an overall assessment, from dictated findings.
It essentially acts like a virtual healthcare assistant standing next to the radiologist offering suggestions based on the most likely consideration. It also offers alternatives that the professional could consider if the default doesn’t fit so they can quickly choose between them to fill out their report.
Now, with its latest product, Rad AI Reporting, healthcare professionals can dictate their findings and the AI-powered system allows them to easily report what they see from looking at images and reduce the amount that they have to dictate by understanding their natural language. The system customizes itself to the speech patterns of each radiologist and takes cues from past reports to complete templates.
After the report is complete, the radiologist can review the results and sign off. According to Rad AI, its software can reduce dictation times by up to 50% and total words dictated by up to 90%.
Ideally, this software can help reduce the time it takes for patient follow-up after an X-ray or an MRI. To make that even faster, Rad AI developed Rad AI Continuity, an intelligent detection platform that identifies follow-up recommendations from radiology reports using AI models. It automates communication with the provider and patient when appropriate, which helps close the loop.
The company said its AI-driven software has increased follow-up rates at health systems from 30% to 75% or more.
THANK YOU