Israeli medical technology firm Aidoc has raised $150m in a financing round to advance the development of its CARE foundation model.
CARE, a clinical-grade AI-based foundation model, assists physicians in making clinical decisions, enhancing the accuracy and speed of medical diagnoses.
The funding round was led by General Catalyst and Square Peg, with contributions from NVentures, NVIDIA’s venture capital arm, and four US health systems: Hartford HealthCare, Mercy, Sutter Health, and WellSpan Health.
It also includes a $40m revolving credit facility, elevating Aidoc’s total funding to $370m.
The investment follows recent FDA clearance for two CARE-powered solutions and new enterprise-wide rollouts at Advocate Health and Sutter Health.
Aidoc co-founder and chief technology officer Michael Braginsky said: “Model accuracy is paramount when touching the core of a physician’s work. Foundation models will soon be as ubiquitous in healthcare as ChatGPT is in general use.
“Scaling clinical AI is an enormous lift – it requires top-tier talent, powerful infrastructure, deep real-world insight and sustained funding.
“Success isn’t guaranteed, but we believe we’re in a unique position to bring this vision to life, and we feel a deep responsibility to do so.”
Aidoc will also use the capital to support the expansion of aiOS, its enterprise-grade platform designed for deploying and managing clinical AI solutions at scale.
The investment aims to facilitate easy integration of both Aidoc and third-party AI solutions.
CARE was trained on multimodal data and has already powered FDA-cleared applications and accelerates the development of new indications up to 20 times faster.
Aidoc anticipates all models to transition to CARE and will cover 90% of clinically relevant diseases, including cancer and cardiovascular conditions, within three years.
The company plans to invest over $150m in collaboration with NVIDIA and AWS to bring CARE to market.
The initiative will leverage high-performance computing and AI development platforms to enhance model performance, efficiency, and real-time inference.
Aidoc CEO Elad Walach said: “CARE compresses decades of roadmap into years, bringing forward a future where AI supports every patient encounter, helping physicians provide the care they believe their patients deserve.
“We’re not doing this alone. aiOS is an ecosystem-driven platform, built to host both Aidoc and external solutions.
“Today, 69% of our customers are running non-Aidoc models on aiOS, and we’re committed to growing that ecosystem, ensuring each solution we onboard will lead to significant clinical impact.”
