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Healthcare startup Rad AI has raised a new round of funding from Transformation Capital at a $525 million valuation

Jan 24, 2025 - businessinsider.com
Rad AI, a healthcare startup founded in 2018, has raised approximately $60 million in a Series C funding round led by Transformation Capital, valuing the company at $525 million. The company specializes in using generative AI to automate routine tasks for radiologists, such as generating reports and managing patient follow-ups, aiming to enhance efficiency and reduce burnout. This funding round follows a $50 million Series B led by Khosla Ventures, highlighting growing interest in AI-driven healthcare solutions.

Rad AI is gaining traction in the healthcare tech sector, working with nearly half of all US health systems and nine of the ten largest radiology practices in the country. Cofounded by Dr. Jeff Chang, noted as the youngest US radiologist, and CEO Doktor Gurson, a serial entrepreneur, the company is positioned as a significant player in the radiology tech market. It has been recognized by VC firm TRAC as a potential future unicorn, indicating its strong growth prospects amidst competition from companies like Sirona Medical.

Key takeaways:

  • Rad AI raised a Series C funding round led by Transformation Capital, valuing the company at $525 million.
  • The company uses generative AI to automate tasks for radiologists, aiming to reduce burnout and increase efficiency.
  • Rad AI's Series C follows a $50 million Series B round led by Khosla Ventures in May 2024.
  • Rad AI is working with nearly half of all US health systems and 9 of the 10 largest radiology practices in the country.
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