Rad AI, a pioneer of generative AI solutions in healthcare, has raised $50 million in Series B Funding to expand its AI solutions across health systems globally.
According to the company’s announcement on Tuesday, May 7, 2023, the funding round was led by Khosla Ventures, with a significant contribution from WiL(World Innovation Lab).
Initial investors ARTIS Ventures, Kickstart Fund, OCV Partners, and Gradient Ventures— Google’s AI-focused fund, among other investors, also participated in the round, boosting Rad AI’s total capital raised to over $80 million.
Rad AI has built one of the most widely adopted generative AI solutions in healthcare, potentially helping physicians save time and improve patient care. Currently, the solutions are being used by a third of US health systems, as well as 9 of the 10 largest US radiology practices.
Rad AI-backed System for Physicians
Rad AI is a pioneer of one of the commercial generative AI solutions for automatic report generation in healthcare. In 2018, the company created one of the first commercial generative AI products capable of generating customized parts of radiology reports according to radiologist’s style and language.
Rad AI Reporting— the company’s innovative AI-enabled solution for radiology reporting, helps radiologists generate their reports quicker, improving workflow. Besides the reporting system, Rad AI has also developed Rad AI Continuity, a patient follow-up solution adopted by large health systems in the US to streamline follow-up care management.
Combined, Rad AI digital healthcare solutions have a positive impact on more than 50 million patients countrywide. Rad AI has also developed proprietary LLMs powered with radiology data. According to Rad AI, the system is highly accurate and designed with individual user language customization to simplify radiology practice.
