Healthcare AI company Viz.ai announced that it landed a whopping $50 million in Series B funding this morning. This latest infusion of cash was led by Greenoaks, with participation from Threshold Ventures, CRV, GV and Kleiner Perkins.
The new funding comes a little over a year after the Israeli company raised $21 million from Kleiner Perkins and GV.
WHAT THEY DO
Viz.ai focuses on using AI to triage stroke patients and coordinate care. Specifically, using a deep learning algorithm the technology aims to highlight suspected large vessel occlusion. The system then alerts all members of the stroke team. Clinicians can tap into a smartphone interface to view images and insights. Part of the company’s goal is to synchronize stroke care.
WHAT IT’S FOR
The new money will be put towards expanding the technology to more locations.
“Viz.ai’s mission is to improve access to lifesaving treatments. In stroke, by saving time for the hospital system, we can achieve significant cost savings for the payer and most importantly, improved outcomes for the patient. This round of funding will enable us to expand the benefits of Synchronized Care to more disease states and geographies, democratizing the quality of health care globally,” Chris Mansi, CEO of Viz.ai, said in a statement.
Viz.ai received de novo 510(k) clearance for Contact, a clinical decision support (CDS) tool that analyzes CT results and highlights cases that may have experienced a stroke, in 2018. Since then the company has inked a number of deals with major players in the field. In July the company announced it was joining forces with Medtronic. The partnership is revolved around getting Viz.ai’s system into more treatment centers in the US. It has also struck a deal with Tennessee-based Erlanger Health System to deploy its Viz LVO system in the hospitals.
While stroke care has been a popular topic in digital health, the bulk of the focus is on rehabilitation. For example, the Kessler Foundation and Virtualware teamed up in 2018 on a new virtual reality tool aimed at helping stroke patients recover. Additionally, Northwestern University engineers developed sensor patches to better monitor stroke patients during home recovery.
ON THE RECORD
“We see Viz.ai as the future of how healthcare is delivered. With rising costs and more focus on value-based care, there needs to be an emphasis on delivering the highest quality care in the shortest amount of time while reducing costs,” Neil Shah of Greenoaks said in a statement.