Today, RapidAI, the leader in advanced imaging for stroke, announced a $25 million Series B round of funding by Lennertz & Co. These additional funds will accelerate their strategic growth initiatives around the world building on years of profitability.
The company was founded in 2011 and makes advanced cerebrovascular imaging products. The funding will support the continued advancement of the Rapid® platform. Its clinical products will help save lives, for instance, its workflow and messaging technologies will help stroke teams save time while analytics and business intelligence products will help stroke networks reduce costs and improve outcomes.
“For several years, we have worked to develop and bring to market the next generation of AI-enhanced cerebrovascular imaging products. We have been rewarded for that dedication with sustained growth and uninterrupted profitability since going to market,” said Don Listwin, CEO of RapidAI.
“In the last year, we have expanded our scope from ischemic stroke to hemorrhagic stroke, and with the recent acquisition of EndoVantage, we now address aneurysm. In these difficult global times, this investment is a significant sign of support, that while others are shrinking and shuttering, we are investing and growing to help build efficient stroke networks across multi-site systems and referral networks,” he adds.
It offers advanced stroke imaging and assessment products for hospitals. The platform uses AI to create high quality and advanced images from non-contrast CT, angiography, perfusion, and MRI diffusion and perfusion scans.
“We want our investment monies directed toward companies and teams that demonstrate global vision and a track record of success,” said Philipp Lennertz, Managing Director of Lennertz & Co. “RapidAI’s vision to massively improve stroke and other cerebrovascular care through AI, and other medical imaging innovations, has known no borders and brought measurable improvement to patient care worldwide. We are excited to help them continue and expand on their mission.”
Dr. Olav Jansen, Professor at the Department of Radiology and Neuroradiology, Germany, said “Since RapidAI cofounders, Dr. Albers and Dr. Bammer, presented research that dramatically grew stroke treatment guidelines globally, thousands of other clinicians and I have been able to address more patients and achieve better outcomes. With the Rapid platform’s wide array of AI-enhanced imaging technologies, we have seen opportunities for effective care grow daily.”