Israeli AI Healthcare Solutions Provider Aidoc Raises $110M

Israeli AI-driven healthcare solutions provider Aidoc, announced on Thursday the completion of a $110 million Series D funding round.

The round was co-led by global growth investors TCV and Alpha Intelligence Capital (AIC), alongside participation from AIC’s co-investor CDIB Capital.   

Aidoc’s platform enables hospitals to tackle their most prominent challenges, especially in the post pandemic reality of physician and nursing shortages, rising supply costs, and an increasingly challenging economic environment.

The pandemic has exacerbated labor shortages and burnout in healthcare systems around the world, especially in the United States where 30 percent of personnel have chosen to retire and an additional 31 percent are considering leaving the healthcare profession altogether.

Founded in 2016, Aidoc helps medical specialists flag acute anomalies in real-time. It has developed FDA-cleared AI-based solutions that analyze medical images for critical conditions and trigger alerts directly in the imaging workflow, which expedites treatment and improves the overall quality of care for patients. The company’s healthcare AI platform is currently used by radiologists in health networks, hospitals, and radiology groups globally and has analyzed over 8 million cases to date.

Aidoc is applying its AI-driven medical imaging capacities and multidisciplinary response teams to the entirety of the hospital enterprise, aiding physicians in managing the entire patient care continuum under their AI Care Platform. This platform empowers radiologists and other imaging professionals to quickly assess potentially time-critical cases, and it enables physicians to spend more time engaging patients rather than being overwhelmed by manual processes.  

“We are building the kind of breadth and depth in AI that is allowing hospitals to fundamentally change the way they do business and provide the solutions needed to successfully compete during these challenging times” says Elad Walach, CEO of Aidoc. “Aidoc is already the leading imaging AI platform, but with this new round of investment, our aim is to massively ramp up our AI Care Platform to cover both the various hospital medical service lines and the depth of integration into the clinical workflows, empowering hospitals to activate cross-specialty care teams and deliver the best quality of care in a scalable, efficient way to patients.” 

“Founded with a patient-focused and product-centric mentality, Aidoc has a bold vision to forge a new market category in healthcare and deep, established roots in medical imaging,” says Gopi Vaddi, general partner at TCV. “We believe Aidoc’s platform will change the way hospitals operate and serve as the missing layer of intelligence needed to transform healthcare.”