Rad AI has raised $60 million in a Series C financing round, bringing its value to $525 million.
Transformation Capital led the round, with participation from existing investors Khosla Ventures, World Innovation Lab, UP2398, Kickstart Fund, OCV Partners, Cone Health, and others.
Rad AI Reporting’s generative AI features aim to save radiologists time and reduce fatigue by automatically generating draft report text in seconds and reducing dictated words by up to 90%, the company said. The company also highlighted its Rad AI Continuity, which aims to help ensure that patients are being properly diagnosed and treated.
With this latest round, Rad AI has a total investment of over $140 million to date. It raised $50 million in a Series B funding round in May 2024.