Artificial intelligence-backed health-tech startup Viz.ai announced a $100 million Series D funding round that brings its total valuation to $1.2 billion. Tiger Global and Insight Partners led the round, with participation from Scale Ventures, Kleiner Perkins, Threshold, GV, Sozo Ventures, CRV and Susa.
This news comes roughly a year after the company closed its $71 million Series C round. As of today, the company has more than $250 million in venture investment.
WHAT IT DOES
Viz.ai built a care-coordination tool designed to help clinical teams share images and detect potential diseases. The product’s AI tool is able to help triage the clinical images and detect strokes, and in turn help care teams prioritize patients. Currently its offering includes AI detection productions for aortic diseases, pulmonary embolism and cerebral aneurysms. The company noted that it has a pending 510(k) clearance for subdural hematoma.
Specialists using the system are able to access a mobile view of scans, which allows them to zoom in and out of images and visualize the scan in 3D.
RELATED: Viz.ai Receives FDA 510(k) Clearance for Viz ANEURYSM
WHAT IT’S FOR
The company said the new funds will help fuel growth in the company. The money will also go towards adding new disease-triaging capabilities to the Viz Platform.
“We will continue to invest heavily in cutting-edge technology and services to integrate deeply into the clinical workflow, allowing us to automate disease detection, increase diagnostic rates and enhance workflows across the entire hub and spoke health system,” Dr. Chris Mansi, Viz.ai cofounder and CEO, said in a statement.
“More patients receive the right treatment, resulting in better patient outcomes and improved financial efficiency for the health system.”
MARKET SNAPSHOT
Founded in 2016, the company landed an FDA De Novo in 2018 for its Viz.ai Contact, a clinical decision-support tool that analyzes CT scans and flags a detected stroke. The startup has continued to work with the FDA on new algorithms. Most recently, in February the company landed an FDA 510(k) clearance for its algorithm designed to detect cerebral aneurysms.
There are several digital health companies working in the stroke-care space. For example, in 2021 Indian startup Qure.ai announced a new stroke management platform that lets providers remotely diagnose and make decisions. Additionally, stroke-triaging company MindRhythm launched a multicenter clinical trial to test the effectiveness of its stroke-detecting technology also in 2021.
ON THE RECORD
“Viz.ai is the standout AI healthcare company; they are first-in-class in intelligent care coordination, with a solid foundation of clinical evidence supporting the value delivered to healthcare providers and patients,” John Curtius, partner at Tiger Global, said in a statement. “We see meaningful upside as the company expands to help life science companies expedite clinical trials and accelerate patient access to new effective treatments.”
