Diagnostic Robotics, developer of AI technologies for the healthcare industry, has raised $45 million in a Series B funding round.
The investment was led by StageOne, with participation by Bank Hapoalim, Migdal Insurance, Clal Insurance, and US medical center Mayo Clinic.
The new funding will be used to accelerate product development, go-to-market growth, including investment in sales and marketing, and other key hires across the organization.
“We are incredibly excited to be partnering with Kira (Radinsky, CEO of Diagnostics Robotics) and the team as they expand and change the way health plans address risk, while helping to drive immensely improved care management for members,” said Yossi Vinitski, of StageOne Ventures.
Diagnostic Robotics developed a hybrid AI diagnostic system aimed at alleviating strained health budgets and workforces by helping physicians, healthcare providers and insurers with patient navigation while providing improved risk-prediction capabilities for clinical decision-making. The AI also helps predict which patients will benefit from proactive interventions and improve the point of care.
The company’s solutions enable healthcare systems to deliver more-effective care at lower costs. By integrating its products into existing healthcare systems, the company aims to make healthcare more affordable, effective, and efficient.
Diagnostic Robotics has agreements with several insurance companies in the US, and it monitors around 28 million users.
“Diagnostic Robotics is using the most precise predictive models, leveraging nuanced definitions of risk and shifting focus away from purely risk-based targeting to clinically-actionable targeting to not only change how health plans approach their members, but to drastically improve member clinical care journeys,” said Kira Radinsky, CEO and Co-founder of the company.
The company made headlines at the start of the COVID-19 pandemic when it sought to use its AI-based capabilities to predict where new centers of COVID-19 cases would develop and the pattern of the disease’s spread.
Diagnostic Robotics is headquartered in Tel Aviv and has markets in India, Israel and the United States. The company was founded in 2017.