Rad AI Raises $60 Million in Series C Funding, Valued at $525 Million

Rad AI, a rapidly growing healthcare technology startup, has recently completed a Series C funding round valued at $525 million, led by Transformation Capital. Insider sources revealed that the company raised approximately $60 million in this round, further solidifying its position within the healthcare tech landscape. Founded in 2018, Rad AI is dedicated to helping radiologists automate routine tasks, which aids in decreasing workplace burnout.

The Series C funding round takes place just seven months after Rad AI's Series B, during which it secured $50 million under the guidance of Khosla Ventures. Unlike many competitors focusing on imaging and identifying potential abnormalities in scans, Rad AI’s approach centers on streamlining everyday processes, such as automatically producing radiology reports and handling patient follow-ups. Its innovative solutions have garnered interest from nearly half of all health systems in the United States and nine out of the country's ten largest radiology practices.

Dr. Jeff Chang, who is noted for being the youngest radiologist in US history, and Doktor Gurson, a seasoned tech entrepreneur who has founded multiple companies. Additionally, proprietary data from the venture capital firm TRAC suggests that Rad AI might be positioned to reach unicorn status, as it has been included on TRAC's list of startups with the potential to achieve valuations of over $1 billion.