Aidoc Secures $150M Funding for AI Foundation Model in Healthcare

Artificial intelligence company Aidoc has announced a significant funding round of $150 million to develop a foundation model aimed at enhancing clinical decision-making. This investment marks a major step forward in the application of AI technology within the healthcare sector.

Funding Details and Investor Participation

The funding round was led by venture capital firms General Catalyst and Square Peg, with additional participation from notable investors. Nvidia's venture capital arm, NVentures, joined the round, along with several prominent health systems including Hartford HealthCare, Mercy, Sutter Health, and WellSpan Health.

This latest investment brings Aidoc's total funding to $370 million, underlining the growing confidence in AI's potential to transform healthcare delivery. The funding package includes a $40 million revolving credit facility, providing the company with additional financial flexibility.

CARE Foundation Model: Expanding AI Capabilities in Healthcare

At the heart of Aidoc's initiative is the CARE foundation model, a large-scale, pre-trained AI system designed to support a wide range of medical applications. This technology has already demonstrated its potential, serving as the basis for two FDA-cleared solutions targeting rib fracture detection and aortic dissection diagnosis.

The CARE model represents a significant evolution from Aidoc's initial focus on point solutions for radiology. By transitioning to a foundation model approach, the company aims to accelerate the development of AI applications across a broader spectrum of health conditions, including cancer and cardiovascular diseases.

Michael Braginsky, Aidoc's Chief Technology Officer, emphasized the transformative potential of this technology, stating, "Foundation models will soon be as ubiquitous in healthcare as ChatGPT is in general use."

Strategic Partnerships and Future Investments

To bring the CARE model to market, Aidoc plans to invest more than $150 million in the coming years through strategic initiatives with tech giants Nvidia and Amazon Web Services. This collaboration underscores the increasing convergence of healthcare and advanced computing technologies.

Additionally, Aidoc will allocate funds to expand its aiOS platform, an operating system designed to facilitate the deployment and management of multiple AI solutions within healthcare settings. The aiOS is capable of supporting both Aidoc's proprietary models and third-party AI applications, potentially streamlining the integration of AI tools across healthcare systems.