Companies developing imaging solutions powered by AI raised nearly $580 million in 2018, according to a report from Signify Research. That figure is more than double the $270 million raised in 2017.

Since 2014, these businesses have raised more than $1.2 billion. Eighty-four companies have disclosed their funding during that time, averaging $14.4 million in funding per company. Excluding HeartFlow’s $476.6 million in investments, the other 83 companies averaged $9.2 million in funding.

The report also found that angel funding, seed funding and Series A funding declined in 2018, though Series B funding and other later-stage deals saw a significant increase.  

“In 2018, investors started to focus more on mid- and later-stage deals, suggesting that the sector is maturing, although the number of early-stage deals was still higher.” Simon Harris, principal analyst for Signify Research, said in the report.

The report is available on Signify Research’s website.