Viz.ai, a healthcare startup that’s using artificial intelligence (AI) to help medical professionals spot the early signs of stroke, has raised $50 million in a series B round of funding led by Greenoaks, with participation from Alphabet’s VC arm GV and Kleiner Perkins.
In the U.S. alone, someone has a stroke every 40 seconds, according to data from the Centers for Disease Control and Prevention (CDC), culminating in some 140,000 deaths each year — or 1 in every 20 deaths. Moreover, those who survive a stroke often suffer from a long-term disability as a result.
As with many medical conditions, early stroke detection is key to treating and negating the impact of strokes, but one of the main difficulties lies in the fact that they can be difficult to diagnose. And even at that point, coordinating the treatment among the various specialists can cause unnecessary delays. And that is where Viz.ai is looking to help.
Founded in 2016, Viz.ai has developed deep learning algorithms to analyze brain scans for large vessel occlusions (LVOs), a disabling type of stroke. Viz.ai’s software can spot stroke indicators and automatically alert a neurological specialist within minutes, which could prove crucial to the patient’s chances of a positive outcome. Through a mobile interface, Stroke teams can liaise in real time to analyze scans and decide on the most suitable course of treatment. It’s all about “synchronizing stroke care,” as Viz.ai puts it, to reduce what it calls “systemic delays.”
Above: Viz.ai offers a HIPAA-compliant mobile interface to help connect stroke teams
So in effect, Viz.ai is as much about improving communications and optimizing the broader medical workflow, as it is about specifically spotting suspected LVOs.
“Viz.ai’s mission is to improve access to lifesaving treatments,” noted Viz.ai CEO Chris Mansi, in a press release. “In stroke, by saving time for the hospital system, we can achieve significant cost savings for the payer and most importantly, improved outcomes for the patient.”
AI in healthcare
As with most industries, AI is increasingly making its mark in the healthcare realm — and investors are lining up to back them. In the past month alone, London-based Kheiron Medical Technologies raised $22 million for machine learning that helps radiologists detect cancer earlier, while Cambridge, U.K.-based Healx secured $56 million for an AI system that seeks to discover new drug treatments for rare diseases.
Viz.ai’s inaugural product received FDA clearance last year, and it is now in use in more than 300 hospitals across the U.S.
“We see Viz.ai as the future of how healthcare is delivered,” added Neil Shah from Greenoaks. “With rising costs and more focus on value-based care, there needs to be an emphasis on delivering the highest quality care in the shortest amount of time while reducing costs.”
Viz.ai, which has hubs in San Francisco and Tel Aviv, had previously raised $30 million in funding, including its $21 million series A round last year which saw GV and Kleiner Perkins once again join forces for a co-investment. With another $50 million in the bank, the company is well financed to expand its software into more locations.
“This round of funding will enable us to expand the benefits of synchronized care to more disease states and geographies, democratizing the quality of health care globally,” Mansi said.
Author: Paul Sawers
Source: Venturebeat
