Aidoc raises $27M, analyzes its 1 millionth CT scan

Radiology xray doctor diagnostics testing
Aidoc plans to use the funds to help push its software to 500 hospitals within the next two years. (Pixabay)

Digital imaging analysis provider Aidoc has raised $27 million to help build out its go-to-market team, and the company announced it has processed its one-millionth CT scan in real time.

The Tel Aviv-based company aims to reduce turnaround time and increase efficiency in radiology by flagging high-level anomalies using artificial intelligence and deep learning. It also plans to roll out new decision-support products focused on oncology, as well as an extension of its x-ray software suite.

Its ultimate aim is to help spot the most urgent cases quickly—such as intracranial bleeding, abdominal aneurysms, spinal fractures and pulmonary embolisms—in which faster diagnosis and treatment are essential. The series B round, which brings Aidoc’s total funding to more than $40 million, was led by Square Peg Capital.

“As a company, there are distinct moments in time, when you feel that it is never going to be the same. Series B, and especially this series B, is one of such moments,” Aidoc co-founder and CEO Elad Walach wrote in a company blog post.

“It catapults us into a higher league, where, in addition to the development of new technologies and products, we are able to scale up our deployment,” he said.

Aidoc is currently working with 100 sites, and plans to expand to 500 hospitals within the next two years, according to Walach. In addition, the company said it is working with the American College of Radiology’s Data Science Institute to monitor the performance of its FDA-cleared AI solutions in the U.S.

"Providing public visibility on the real-life clinical impact of AI across diverse settings is crucial for the continued adoption of these technologies in medical practice," Walach said in a statement.