Health systems AI deployment company Ferrum Health has secured $16 million in Series A Funding round to expand AI adoption in healthcare.
The Series A round was spearheaded by a venture capital firm Foundry, with contributions from Headwaters Ventures, UnitedHealthcare Accelerator, and Catalyst by Wellstar. Existing investors Blumberg Capital, GSR, Urban Innovation Fund, Cercano, and Singtel Innov8 also joined the round, boosting the total funds raised in the latest round to $31 million.
Co-founded in 2018 by Pelu Tran MD and Kenneth Ko, the company provides a software platform for AI deployment into health systems. It aims to help healthcare systems accelerate AI adoption by solving common problems such as safety, security, and scalability that hinder many health systems from adopting AI solutions into their operations.
The new funding will help Ferrum Health accelerate product development and partner expansion. This will allow healthcare professionals to leverage the power of artificial intelligence to make more informed decisions and improve patient outcomes.
Ferrum’s Software Platform
Ferrum provides a secure software platform that allows healthcare organizations and healthcare systems to deploy AI applications without compromising data security, privacy, and innovations. The company’s platform allows clinicians to validate AI performance using local datasets and securely deploy AI systems into their workflows.
Ferrum Health’s growing toolkit of AI algorithms currently covers radiology, oncology, cardiovascular, orthopedics, and neurology, among other fields.
