RapidAI today announced US$75 million in Series C funding led by Vista Credit Partners, a subsidiary of Vista Equity Partners and strategic financing partner focused on the enterprise software, data and technology markets.
A press release details that the funding aims to drive platform innovation to support more disease states and go-to-market functions to accelerate growth in new regions and product verticals.
“Hospitals are increasingly looking for RapidAI solutions to solve their critical needs, including helping care teams work more efficiently and support clinical decision-making for better patient outcomes,” said Karim Karti, CEO of RapidAI. “RapidAI’s advanced clinical decision support (CDS) software goes beyond simple triage and notification to provide specific, relevant and contextual data with tremendous accuracy to satisfy these demands. Vista Credit Partners’ support and access to their expertise will advance our vision, technological innovation and go-to-market efforts as we further establish our leadership position in clinical artificial intelligence (AI) solutions for life-threatening diseases.”
RapidAI claims that its AI and workflow technology sets the standard for stroke care. The company has built a portfolio of stroke solutions, including Rapid non-contrast computed tomography (NCCT) Stroke, which provides hospitals of all sizes and imaging capabilities greater access to imaging and decision support to address a wider population of patients.
In addition, the company notes that it has expanded into new disease states with US Food and Drug Administration (FDA)-cleared modules for cerebral aneurysm management, and the identification and notification of suspected central pulmonary embolism. The company is also developing additional modules for other disease states.
Recent milestones demonstrating RapidAI’s platform innovation and market traction include:
- Surpassed 10 million scans analysed on the platform;
- Published in over 300 peer-reviewed publications;
- Deployed in more than 2,200 hospitals in 100-plus countries; and
- Leveraged in over 25 clinical trials.
“Vista Credit Partners provides mission-critical enterprise software businesses with flexible capital solutions and operational support to accelerate growth and category leadership,” said David Flannery, president of Vista Credit Partners. “RapidAI is playing an outsized role in advancing patient care for life-threatening diseases with innovative clinical AI solutions. We look forward to our partnership and helping the company realise its next phase of growth.”