Aidoc Raises $150M for AI Model Development

Aidoc, an Israeli health AI company, has successfully raised $150 million in a new funding round, drawing contributions from four major U.S. health systems in addition to key venture partners. This latest financing effort also includes a $40 million revolving credit facility, elevating the company’s total funding to $370 million.

Participating health systems—Hartford HealthCare, Mercy, Sutter Health, and WellSpan Health—joined General Catalyst and Square Peg, which led the funding round to bolster the development of Aidoc’s clinical-grade foundation model, known as CARE.

This foundation model is trained on multimodal data and is already utilized in various applications, including Aidoc’s FDA-cleared Rib Fractures triage solution. Looking ahead, the company plans to transition all its existing models to the CARE platform while investing over $150 million through strategic partnerships with NVIDIA and Amazon Web Services to bring CARE to market.

Michael Braginsky, co-founder and chief technology officer of Aidoc, stated, “Foundation models will soon be as ubiquitous in healthcare as ChatGPT is in general use.” He emphasized that scaling clinical AI requires top-tier talent, robust infrastructure, significant insights, and sustained funding to be successful.

The funding will also support the expansion of Aidoc’s aiOS platform, which facilitates clinical AI deployment and governance. Aidoc’s primary objective with this expansion is to integrate its solutions, alongside third-party AI tools, within the IT infrastructures of health systems. CEO Elad Walach noted that approximately 69% of their customers currently run non-Aidoc models on the aiOS platform.

“We are committed to growing that ecosystem, ensuring each solution we onboard will result in significant clinical impact,” Walach remarked.

More than 150 health systems, including renowned institutions like Mount Sinai Health System, Yale New Haven Health System, and Northwell Health, are currently utilizing Aidoc’s solutions.

Founded in 2016, Aidoc has secured millions across ten previous funding rounds, marking its growth within the increasingly competitive health AI sector.

For more detailed coverage of the evolving landscape in healthcare technology, you can follow Anuja Vaidya, who has been reporting on this industry since 2012, focusing on areas such as telehealth, remote patient monitoring, and digital therapeutics.