Viz.ai Raises $71 Million Series C Round Led by Scale Venture Partners and Insight Partners
SAN FRANCISCO--(BUSINESS WIRE)--Viz.ai today announced that it has raised $71 million in Series C funding, led by Scale Venture Partners and Insight Partners with participation from Greenoaks, Kleiner Perkins, Threshold Ventures, CRV, Innovation Endeavors and Susa Ventures. Viz.ai aims to accelerate expansion of its Intelligent Care Coordination A.I. platform beyond stroke to other areas of acute care such as cardiology, pulmonary and trauma, and into new global markets. This round brings the company’s total funding to over $150 million since inception.
“This expansion addresses the gap in the coordination of care among clinicians and healthcare systems to best facilitate essential and timely patient care,” said Rory O’Driscoll, partner, Scale Venture Partners. “Viz.ai has proven its ability to transform care coordination in stroke by leveraging AI and advanced mobile technology, and we see huge potential for this platform to transform other acute care specialties across healthcare.”
Viz.ai’s transformative, intelligent care coordination system, already clinically validated for stroke, brings synchronized collaboration, integrated data and automated processes, and improved visibility to a unified platform with an advanced mobile experience. The largest real-world multi-center study using Viz LVO found a median time-to-notification of 5 minutes and 45 seconds across all of the sites involved when using Viz LVO. In the study, containing the largest health AI data set to date, Viz LVO achieved 96% sensitivity and 94% specificity in identifying large vessel occlusions in 2,544 consecutive patients from 139 hospitals using scanners from multiple manufacturers. Faster triage with Viz LVO enables the identification and triage of more patients who are eligible for thrombectomy, which not only improves patient outcomes and reduces disability, but also is reimbursed at approximately three times the rate than medically managed stroke.
“Viz.ai has taken an innovative approach to transforming one of healthcare’s biggest challenges, using intuitive technology to help improve patient outcomes in acute care,” said Nikhil Sachdev, managing director, Insight Partners. “We see the company poised for massive growth as it scales its clinically-verified stroke care coordination system to other use cases where time is crucial to outcomes and costs to patients and hospitals can exponentially increase when care coordination breaks down. We are looking forward to rolling up our sleeves and helping Viz.ai scale up.”
Best in class care coordination is the lynchpin to improved quality outcomes while also improving patient experience and reducing cost. The current system of care is still managed by outdated software, often leading to lack of visibility and delayed patient care which can be costly, particularly in acute emergencies where saving time is essential.Viz.ai is at the forefront of care coordination transformation with an award winning FDA-cleared product suite running AI-powered real time disease detection, automated alerts and triage, mobile DICOM image viewing, HIPAA-compliant secure messaging, and point of care physician consults that greatly enhances patient care, resulting in exceptional patient outcomes.
“This latest round of funding validates the potential of Viz.ai’s technology, both in and beyond stroke care coordination,” said Chris Mansi, co-founder and CEO of Viz.ai. “The investment will allow us to expedite our effort to bring the power of artificial intelligence and advanced mobile technology to prevent care breakdowns, improve patient outcomes and experience, and improve economics across the entire health system both in the United States and Europe.”
About Viz.ai, Inc.
Viz.ai is the leader in AI-driven modern care coordination. Viz.ai’s mission is to fundamentally improve how healthcare is delivered in the world, through intelligent software that promises to reduce time to treatment, improve access to care, and increase the speed of diffusion of medical innovation. Viz.ai’s flagship product, Viz LVO, leverages advanced deep learning to communicate time-sensitive information about stroke patients straight to a specialist who can intervene and treat.
In February 2018, the U.S. Food and Drug Administration (FDA) granted a De Novo clearance for Viz LVO, the first-ever computer-aided triage and notification software. Viz.ai announced its second FDA clearance for Viz CTP through the 510(k) pathway, offering healthcare providers an important tool for automated cerebral perfusion image analysis. A third FDA clearance was granted in 2020 for Viz ICH, which uses AI to automatically detect suspected intracranial hemorrhage on CT imaging. In 2020, CMS granted Viz.ai the first New Technology Add-on Payment (NTAP) for artificial intelligence software for Viz LVO.
Viz.ai is located in San Francisco and Tel Aviv and backed by leading Silicon Valley investors, including Kleiner Perkins, Google Ventures, Greenoaks, CRV, Threshold Ventures, Innovation Endeavors, Susa Ventures, Scale Venture Partners and Insight Partners.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high- growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. 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. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
About Scale Venture Partners
Scale is a Silicon Valley-based venture capital firm that invests in the future leaders of enterprise software. We were early investors in SaaS pioneers Box, DocuSign, HubSpot, RingCentral, and Bill.com. Today we’re focused on the next generation of enterprise software companies building Cognitive Applications like JFrog, WalkMe, CircleCI, KeepTruckin, BigID, and Demandbase. Our Scale Studio platform leverages an unrivaled dataset of 1,000+ successful startups to give founders benchmarks on their company's "Vital Signs" -- the growth and operating metrics that matter most. Learn more about our people, portfolio, and perspectives at www.scalevp.com.