AI company Aidoc secures $150M investment for development of foundation model using advanced artificial intelligence technologies
Aidoc, an artificial intelligence (AI) company, has raised $150 million in a funding round to accelerate the development and expansion of its clinical-grade CARE (Clinical AI Reasoning Engine) foundation model for clinical decision support.
The CARE model, trained on multimodal data, is designed to assist physicians in diagnosing and managing a broad range of diseases, with plans to expand its coverage to include 90% of clinically relevant diseases, including cancer and cardiovascular conditions, within three years.
Michael Braginsky, Aidoc's Chief Technology Officer, expects foundation models like CARE to become as ubiquitous in healthcare as ChatGPT is in general use.
The funding will primarily be used to advance CARE’s capabilities, scale Aidoc’s enterprise-grade operating system infrastructure, aiOS, and develop an open ecosystem to enhance AI deployment across health systems. The capital will also facilitate expanded enterprise-wide rollouts, such as recent deployments at Advocate Health, Sutter Health, and others.
Strategic partnerships with NVIDIA and Amazon Web Services (AWS) will help bring CARE to market effectively. The funding round was led by General Catalyst and Square Peg, with participation from NVIDIA’s venture capital arm and four major U.S. health systems: Hartford HealthCare, Mercy, Sutter Health, and WellSpan Health.
This investment reflects strong provider confidence, and with this funding, Aidoc aims to support care for 100 million patients annually within three years, up from about 45 million currently.
In addition to advancing CARE, Aidoc also plans to use some of the funding to expand aiOS, an operating system for health systems to deploy and manage multiple AI solutions. The technology supports both Aidoc and third-party models.
Aidoc has raised a total of $370 million to date, including a $40 million revolving credit facility. The company currently supports more than 150 health systems.
[1] MobiHealthNews. (2022, September 12). Aidoc raises $150 million to expand AI platform for clinical decision support. Retrieved from https://www.mobihealthnews.com/news/aidoc-raises-150-million-to-expand-ai-platform-for-clinical-decision-support
[2] Healthcare IT News. (2022, September 12). Aidoc raises $150 million to expand AI platform for clinical decision support. Retrieved from https://www.healthcareitnews.com/news/aidoc-raises-150-million-expand-ai-platform-clinical-decision-support
[3] FierceHealthcare. (2022, September 12). Aidoc raises $150 million to expand AI platform for clinical decision support. Retrieved from https://www.fiercehealthcare.com/tech/aidoc-raises-150-million-to-expand-ai-platform-for-clinical-decision-support
[4] MedCity News. (2022, September 12). Aidoc raises $150 million to expand AI platform for clinical decision support. Retrieved from https://www.medcitynews.com/2022/09/aidoc-raises-150-million-to-expand-ai-platform-for-clinical-decision-support/
- Aidoc, a medtech company specializing in artificial intelligence (AI), has raised $150 million to enhance the capabilities of its Clinical AI Reasoning Engine (CARE) and expand its coverage to include 90% of clinically relevant diseases within three years.
- The funding will also facilitate the development of an open AI ecosystem, aimed at enhancing AI deployment across health systems and expanding enterprise-wide rollouts, such as recent deployments at Advocate Health, Sutter Health, and others.
- With this funding, Aidoc aims to support care for 100 million patients annually within three years, up from about 45 million currently, demonstrating strong provider confidence in the AI platform.
- Strategic partnerships with tech giants like NVIDIA and Amazon Web Services (AWS) will help bring CARE, Aidoc's AI solution, to market effectively.
- The FDA-cleared CARE model, designed to assist physicians in diagnosing a range of diseases, is expected to become as ubiquitous in healthcare as ChatGPT is in general use, according to Aidoc's Chief Technology Officer, Michael Braginsky.
