- Viz.ai recently announced it raised $100 million in funding. These are the details.
Viz.ai – the leading AI-powered disease detection and care coordination platform – has raised a $100 million funding round at a $1.2 billion valuation. The Series D funding round, which comes as the number of hospitals using the Viz Platform surpasses the 1,000 mark and patients served reaches millions, was led by Tiger Global and Insight Partners.
Also joining the round were several of the company’s early investors including Scale Ventures, Kleiner Perkins, Threshold, GV (formerly Google Ventures), Sozo Ventures, CRV, and Susa. The new funding round will be used to support Viz.ai’s significant growth trajectory, expand the Viz Platform to detect and triage additional diseases, and grow its customer base globally.
Viz.ai is known as leading the wave of innovation that applies AI to transform healthcare, creating a synchronized system of action for hospitals that delivers critical diagnostic data at decision-making moments and is clinically validated to improve patient care. And Viz.ai solves the fundamental problem of connecting radiologists, emergency physicians, and primary care practitioners to the optimal specialists for a particular disease in order to facilitate care coordination and ensure optimized and consistent care pathways, reducing variability. Plus the company combines actionable computational diagnostics and precision medicine to make a significant improvement to patient outcomes and the financial efficiency of a health system.
The company pioneered the stroke detection and triage market with the de novo FDA clearance of its stroke module and was the first AI software to receive approval from CMS for NTAP (New Technology Add-on Payment). And customers include Mount Sinai Health System, Thomas Jefferson University, Banner Health, CommonSpirit Health, and HCA Healthcare, which is also an investor.
Viz.ai is continuing to expand its reach and innovation in additional disease states. And through its vast network of hospital and health system customers, Viz.ai assists in the care of one patient every 32 seconds. Over the past year, Viz.ai launched AI-driven solutions for aortic disease, pulmonary embolism, cerebral aneurysms, and is 510(k) pending for subdural hematoma. Plus Viz.ai has seen great momentum in Europe, Middle East and Africa, with the company being awarded its first five CE Marks in 2021, followed by contracts with several leading hospitals.
This funding announcement follows the launch of Viz.ai’s groundbreaking AI-driven life science platform, a first-of-its-kind solution that revolutionizes the way medical device and pharmaceutical companies perform clinical trials and bring their treatments to market. And Viz.ai has signed partnerships with several of the world’s largest life science companies. These companies are paying close attention as they increasingly look to digital health to complement and enhance traditional efforts.
KEY QUOTES:
“Viz.ai is committed to helping patients get better, faster, and more equitable access to life-saving treatments. 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. More patients receive the right treatment, resulting in better patient outcomes and improved financial efficiency for the health system.”
— Chris Mansi, MD, Viz.ai co-founder and CEO
“Viz.ai is the stand out 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. We see meaningful upside as the company expands to help life science companies expedite clinical trials and accelerate patient access to new effective treatments.”
— John Curtius, Partner at Tiger Global
“The Viz.ai platform has been the single most impactful advance I’ve seen as a physician, permitting the entire care team to mobilize immediately and deliver time-sensitive treatment faster. In addition, Viz Recruit permits us to automatically screen patients for clinical trial enrollment, ensuring we can offer cutting edge studies and treatments to more eligible patients.”
— Chris Kellner, MD, a cerebrovascular neurosurgeon in the Mount Sinai Health System in New York
“Viz.ai excels beyond what’s in the market today with a demonstrably differentiated value proposition because Viz is embedded in clinical workflows, with extremely high engagement and wide adoption. We are excited to continue backing the company in this round after leading the Series C last year, as we are convinced Viz.ai will drive positive change in healthcare using AI, machine learning and sophisticated communication technologies that make a practical difference in therapeutic discovery and clinical practice. They are one of the fastest-growing companies in healthcare today.”
— Nikhil Sachdev, managing director, Insight Partners
