Caption Health, a medical artificial intelligence (AI) company, announced that it has raised $53 million in Series B funding led by existing investor DCVC.
New investors Atlantic Bridge and cardiovascular medical device leader Edwards Lifesciences also participated in the funding round, along with existing investor Khosla Ventures.
The company will utilise this funding to scale up its commercial operations, continue to develop its AI technology platform and form new partnerships. As more providers adopt the Caption AI platform, the company plans to add new clinical capabilities to expand the use of Caption AI in additional care settings.
Caption Health accelerated its plan to bring Caption AI to market in late summer after demand from clinicians caring for patients with COVID-19. Because it allows clinicians without specialized ultrasound training to capture images at the point of care, Caption AI helps reduce both the risk of exposure to the virus for hospital personnel and the strain on limited resources in hospital emergency rooms and ICUs caring for patients with COVID-19.
“Caption Health is working towards a future where looking inside the body becomes as routine as a blood pressure cuff measurement. Simplifying ultrasound is critical to providing fast, effective care,” said Armen Vidian, Partner at DCVC. “By making ultrasound accessible to non-specialists with AI-guided, FDA-cleared products, Caption AI brings the benefits of medical imaging to more caregivers in more settings.”
“We are truly grateful to our investors and to our early adopter clinicians, who have believed in us from the beginning,” said Charles Cadieu, CEO of Caption Health. “This capital will enable us to scale our collaborations with leading research institutions, regional health systems and other providers by making ultrasound available where and when it is needed—across departments, inside and outside the hospital. As the world’s first and only AI-guided ultrasound technology, our goal is to enable all clinicians — regardless of prior experience—to capture diagnostic-quality ultrasounds. In doing so, we aim to have a profound impact on the quality and cost of care for millions of patients around the globe—wherever they access care.”
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