Israeli artificial intelligence vendor Aidoc raises another $20M, triples revenue

Israel-based artificial intelligence vendor Aidoc has raised another $20 million in its latest funding round, ballooning the radiology vendor’s tally to $60 million, officials announced Wednesday.

The firm also claims it has tripled revenue since the start of 2020, despite the challenging economic climate. Aidoc now has six radiology solutions cleared by the U.S. Food and Drug Administration, flagging indications that include pulmonary embolism, intracranial hemorrhage and large vessel occlusions.

“…This funding allows us to continue expanding our comprehensive portfolio as well as facilitate our rapid expansion into additional practices across the globe, cofounder and CEO Elad Walach said in a statement, adding that Aidoc now serves 400 health centers in five continents.

Leaders first founded Aidoc in 2016 and the company has since garnered mentions in Forbes and Time. Back in May, the FDA also approved the use of its AI algorithms for detecting COVID-19 in incidental CT findings.