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US-based Rad AI Secures $50M Funding Led by Khosla Ventures

Written by : Aishwarya Sarthe

May 10, 2024

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Source: Rad AI

The investment, supported by WiL and existing investors, propels the startup's mission to expand the global reach of its generative AI technology.

US-based Rad AI, a radiology startup with AI-powered solutions, has secured $50 million in a recent funding round led by Khosla Ventures.

The investment, supported by WiL and existing investors, propels the startup's mission to expand the global reach of its generative AI technology.

Rad AI's platform addresses the pressing challenges radiologists face, particularly the overwhelming administrative burden of report documentation.

The startup's technology streamlines workflows, allowing radiologists to focus more on patient care and less on repetitive tasks.

Funding Round

The latest funding round, which brings Rad AI's total raised capital to over $80 million, seeks to accelerate the development and deployment of its products worldwide.

Further, the startup plans to expand its team to support its growth trajectory and meet the rising demand for its solutions.

Sharing insights, Doktor Gurson, cofounder & CEO, Rad AI, said, "This strategic funding round further cements our position as the leading AI-driven workflow platform in healthcare."

Radiologists traditionally spend a significant portion of their time dictating reports based on medical images, often handling reports for over a hundred patients daily. Rad AI's solutions aim to alleviate this burden by automating repetitive tasks and customizing radiology reports to individual radiologists' preferences.

Jeff Chang, founder, MD, & radiologist, initiated Rad AI in response to the escalating issues of high error rates, radiologist burnout, and increasing imaging demand amidst a shortage of radiologists in the United States.

He said, "Rad AI has become a mission-critical part of health system workflows over the past five years."

Founded in 2018 by Doktor Gurson and Jeff Chang, Rad AI has developed an artificial intelligence automated report generation platform to automate repetitive tasks for radiologists.

Its platform integrates with existing workflow, automating repetitive tasks and enabling radiologists to improve radiology workflow that maximizes efficiency and accuracy while reducing burnout for radiologists and improving patient care.

Rad AI’s Latest Advancements

Earlier this year, Rad AI partnered with Google to leverage its cloud infrastructure and large language models (LLMs) to enhance workflows and reduce administrative burdens for radiologists.

The collaboration enables Rad AI to utilize Google's AI tools, including MedLM, which are tailored for healthcare industry use cases.

Commenting on the same, Gurson said, "Rad AI's transformative reporting software—powered by their proprietary LLMs trained on some of the world's largest radiology datasets—materially decreases the time it takes for radiologists to go through their workload while reducing fatigue and burnout."

Rad AI's solutions have already garnered significant adoption, with over a third of all US health systems and nine of the ten largest US radiology practices utilizing their technology.

The startup's AI-enabled solutions, such as Rad AI Reporting and Rad AI Continuity for patient follow-up, reported tangible benefits for healthcare providers, including enhanced patient care and operational efficiency.

"At Rad AI, we've built the most widely adopted generative AI solutions in healthcare, saving physicians time and improving patient care," Gurson added.


About Chime India

The College of Healthcare Information Management Executives (CHIME) is an executive organization dedicated to serving senior digital health leaders. CHIME includes more than 5,000 members in 56 countries and two US territories and partners with over 150 healthcare IT businesses and professional services firms. CHIME enables its members and business partners to collaborate, exchange ideas, develop professionally and advocate the effective use of information management to improve the health and care throughout the communities they serve. CHIME's members are chief information officers (CIOs), chief medical information officers (CMIOs), chief nursing information officers (CNIOs), chief innovation officers (CIOs), chief digital officers (CDOs), and other senior healthcare leaders. The CHIME India Chapter became the first international chapter outside North America in 2016 and is now a community of over 70+ members in India. For more information, please visit www.chimecentral.org

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