September 17, 2020
RapidAI, the worldwide leader in advanced imaging for stroke, today announced a $25 million Series B round of funding by Lennertz & Co. Building on years of profitability, these additional funds will accelerate the company’s strategic growth initiatives around the world.
Founded in 2011, RapidAI makes the most-widely used advanced cerebrovascular imaging products for patient care, research, and clinical trials. This funding will support the continued advancement of the Rapid® platform and world-class clinical products. RapidAI clinical products help save lives, RapidAI workflow and messaging technologies help stroke teams save time, and RapidAI analytics and business intelligence products help stroke networks reduce costs and improve patient outcomes.
“For several years, we have worked to develop and bring to market the next generation of AI-enhanced cerebrovascular imaging products. We have been rewarded for that dedication with sustained growth and uninterrupted profitability since going to market,” said Don Listwin, CEO of RapidAI. “In the last year, we have expanded our scope from ischemic stroke to hemorrhagic stroke, and with the recent acquisition of EndoVantage, we now address aneurysm. In these difficult global times, this investment is a significant sign of support, that while others are shrinking and shuttering, we are investing and growing to help build efficient stroke networks across multi-site systems and referral networks.”
RapidAI offers an end-to-end portfolio of advanced stroke imaging and stroke assessment products for hospitals of all sizes. The Rapid platform uses artificial intelligence to create high quality, advanced images from non-contrast CT, CT angiography, CT perfusion, and MRI diffusion and perfusion scans, helping hospitals to speed up time-critical triage or transfer decisions and facilitate better patient outcomes.
“We want our investment monies directed toward companies and teams that demonstrate global vision and a track record of success,” said Philipp Lennertz, Managing Director of Lennertz & Co. “RapidAI’s vision to massively improve stroke and other cerebrovascular care through AI, and other medical imaging innovations, has known no borders and brought measurable improvement to patient care worldwide. We are excited to help them continue and expand on their mission.”
“Since RapidAI cofounders, Dr. Albers and Dr. Bammer, presented research that dramatically grew stroke treatment guidelines globally, thousands of other clinicians and I have been able to address more patients and achieve better outcomes,” said Dr. Olav Jansen, Professor at the Department of Radiology and Neuroradiology, UKSH Campus Kiel, Kiel, Germany. “With the Rapid platform’s wide array of AI-enhanced imaging technologies, we have seen opportunities for effective care grow daily.”