Viz.ai Raises $100 Million in Series D Funding, Led by Tiger Global and Insight Partners at $1.2 Billion Valuation
SAN FRANCISCO--(BUSINESS WIRE)--Viz.ai, the leading AI-powered disease detection and care coordination platform, has raised a $100 million funding round at a $1.2 billion valuation. The Series D round, which comes as the number of hospitals using the Viz Platform surpasses the 1,000 mark and patients served reaches millions, was led by Tiger Global and Insight Partners. Also joining the round were several of the company's early backers, including Scale Ventures, Kleiner Perkins, Threshold, GV (formerly Google Ventures), Sozo Ventures, CRV, and Susa. The new funds will be used to support Viz.ai’s significant growth trajectory, expand the Viz Platform to detect and triage additional diseases, and grow its customer base globally.
“Viz.ai is committed to helping patients get better, faster and more equitable access to life saving treatments,” said Chris Mansi, MD, Viz.ai co-founder and CEO. “We will continue to invest heavily in cutting-edge technology and services to integrate deeply into the clinical workflow, allowing us to automate disease detection, increase diagnostic rates, and enhance workflows across the entire hub and spoke health system. More patients receive the right treatment, resulting in better patient outcomes and improved financial efficiency for the health system.”
Viz.ai is leading the wave of innovation that applies AI to transform healthcare, creating a synchronized system of action for hospitals that delivers critical diagnostic data at decision-making moments and is clinically validated to improve patient care.1 Viz.ai solves the fundamental problem of connecting radiologists, emergency physicians, and primary care practitioners to the optimal specialists for a particular disease in order to facilitate care coordination and ensure optimized and consistent care pathways, reducing variability. It combines actionable computational diagnostics and precision medicine to make a significant improvement to patient outcomes and the financial efficiency of a health system. Viz.ai has pioneered the stroke detection and triage market with the de novo FDA clearance of its stroke module, and was the first AI software to receive approval from CMS for NTAP (New Technology Add-on Payment). Customers include Mount Sinai Health System, Thomas Jefferson University, Banner Health, CommonSpirit Health, and HCA Healthcare, which is also an investor.
Viz.ai continues to expand its reach and innovation in additional disease states. Through its vast network of hospital and health system customers, Viz.ai assists in the care of one patient every 32 seconds. Over the past year, Viz.ai launched AI-driven solutions for aortic disease, pulmonary embolism, cerebral aneurysms, and is 510(k) pending for subdural hematoma. Viz.ai has seen great momentum in Europe, Middle East and Africa, with the company being awarded its first five CE Marks in 2021, followed by contracts with several leading hospitals. Viz.ai is hiring the best and brightest clinical, product, engineering and business minds to support and fuel its growth. With locations in San Francisco, Tel Aviv, Portugal and Amsterdam, the Viz.ai team has grown from 180 to more than 350 over the past 12 months, and is planning to grow by nearly 200 people over the next 12 months.
“Viz.ai is the standout AI healthcare company; they are first-in-class in intelligent care coordination, with a solid foundation of clinical evidence supporting the value delivered to healthcare providers and patients,” said John Curtius, Partner at Tiger Global. “We see meaningful upside as the company expands to help life science companies expedite clinical trials and accelerate patient access to new effective treatments.”
The funding announcement follows the launch of Viz.ai’s groundbreaking AI-driven life science platform, a first-of-its-kind solution that revolutionizes the way medical device and pharmaceutical companies perform clinical trials and bring their treatments to market. Viz.ai has signed partnerships with several of the world’s largest life science companies. These companies are paying close attention as they increasingly look to digital health to complement and enhance traditional efforts.
“The Viz.ai platform has been the single most impactful advance I’ve seen as a physician, permitting the entire care team to mobilize immediately and deliver time sensitive treatment faster,” said Chris Kellner, MD, a cerebrovascular neurosurgeon in the Mount Sinai Health System in New York. “In addition, Viz Recruit permits us to automatically screen patients for clinical trial enrollment, ensuring we can offer cutting-edge studies and treatments to more eligible patients.”
Nikhil Sachdev, managing director, Insight Partners, added, “Viz.ai excels beyond what’s in the market today with a demonstrably differentiated value proposition because Viz is embedded in clinical workflows, with extremely high engagement and wide adoption. We are excited to continue backing the company in this round after leading the Series C last year, as we are convinced Viz.ai will drive positive change in healthcare using AI, machine learning and sophisticated communication technologies that make a practical difference in therapeutic discovery and clinical practice. They are one of the fastest-growing companies in healthcare today.”
About Viz.ai, Inc.
Viz.ai, located in San Francisco, Tel Aviv, Portugal and Amsterdam, pioneered the use of AI algorithms and machine learning to increase the speed of diagnosis and care for a variety of acute and emergent diseases across hospitals and health systems. The Viz Platform is a transformative, intelligent care coordination solution that unifies synchronized care collaboration, high fidelity mobile image viewing, automated workflows and improved visibility at decision-making moments. Viz.ai’s comprehensive neurovascular and vascular AI platform is clinically proven to save time and improve patient outcomes and access to care and is used in more than 1,000 hospitals in the US and EMEA. Viz.ai’s life science portfolio expands the power of the AI-powered Viz Platform to pharmaceutical and medical device companies who are leaning into digital transformation to bring life-saving therapies to market more efficiently. The company was named to the Forbes 2021 Next Billion-Dollar Startups list of the 25 fastest-growing venture-backed startups and has been on the Forbes AI 50 list for three consecutive years. For more information visit viz.ai.
About Tiger Global Management
Tiger Global Management is a leading global technology investment firm with over $90 billion under management. The firm focuses on private and public companies in the software, internet, and financial technology sectors. Since 2001, Tiger Global has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas. Tiger Global's investments have included JD.com, Databricks, Toast, Snowflake, Stripe, Bytedance, SentinelOne, Procore, Facebook, Alibaba, Chime, UiPath, Attentive, LinkedIn, and Flipkart
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of February 24, 2022, the closing of the firm's recent fundraise, Fund XII, brings Insight Partners' regulatory assets under management to over $90B. Insight Partners has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Insight Partners meets great software leaders where they are in their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.