RapidAI has secured $75 million in Series C funding to continue developing its clinical artificial intelligence (AI) solutions.
This new round of funding will enable RapidAI to continue fueling its innovation of advanced clinical decision and workflow support technology to combat life-threatening neurovascular, cardiac and vascular diseases, the company said in a Thursday (July 27) press release.
“Hospitals are increasingly looking for RapidAI solutions to solve their critical needs, including helping care teams work more efficiently and support clinical decision making for better patient outcomes,” RapidAI CEO Karim Karti said in the release.
RapidAI’s advanced clinical decision support (CDS) software provides specific, relevant and contextual data to satisfy these demands, according to the press release.
Regarding stroke care, the company released an FDA-cleared medical device called Rapid NCCT Stroke that detects suspected intracranial hemorrhage (ICH) and large vessel occlusion (LVO) from non-contrast CT imaging, the release said.
RapidAI has also expanded into new disease states, with FDA-cleared modules for cerebral aneurysm management and the identification and notification of suspected central pulmonary embolism, per the release. The new investments will support the development of additional modules for more disease states and go-to-market functions to accelerate growth in new regions and product verticals.
RapidAI’s latest funding round was led by Vista Credit Partners, a subsidiary of Vista Equity Partners.
In the release, Vista Credit Partners President David Flannery said, “RapidAI is playing an outsized role in advancing patient care for life-threatening diseases with innovative clinical AI solutions. We look forward to our partnership and helping the company realize its next phase of growth.”
Modern, AI-assisted processes promise to transform physician decisioning and diagnosing across both critical and chronic care delivery pathways, Erik Duhaime, co-founder and CEO of data annotation provider Centaur Labs, told PYMNTS in an interview posted in May.
These processes are being applied across biomedical research, cancer screening, product development and treatment recommendation modeling, as well as back-office administrative optimization, Duhaime said at the time.
In another recent development in the healthcare space, Amazon Web Services (AWS) debuted AWS HealthScribe on Wednesday (July 26). This new tool uses speech recognition and generative AI to help clinicians save time summarizing patient visits.
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