Photo: Kwanchai Lerttanapunyaporn/Getty Images
Radiology-focused startup Sirona Medical has scored $40 million in Series B funding. GreatPoint Venture led the round with particpation from Rose Park Advisors, Avidity Partners, 8VC and Global Founder Capital.
This funding round comes just months after the company announced a $22.5 million Series A. Today the company’s total funding is roughly $62.5 million.
WHAT IT DOES
The company created a cloud-based platform called RadOS that is able to unite existing radiology IT software tools.
Focused on streamlining radiology workflows, hospital systems can use the service as an overlay to their existing database systems and help bring together disparate data feeds from various systems into one place. The company pitches this tool as a way to simplify workflows and cut costs.
WHAT IT’S FOR
The company plans to use the new cash to build on its ongoing “development, customer onboarding and sale initiatives.”
“There is a critical need for better physician workflow solutions in healthcare, particularly in radiology – the only specialty practiced entirely through software,” Cameron Andrews, founder and CEO of Sirona Medical, said in a statement. “The reality is that radiology IT is fatally fragmented today, and legacy software solutions were specifically designed and rigidly built for this fragmented and siloed status quo.
"After decades of battling with disjointed and cumbersome IT systems, radiologists are ready for a unified, cloud-native platform – for a simpler workflow experience that puts the physician experience first. They’re ready for software that just works. With this funding, we will be able to turbocharge the adoption of our RadOS platform into radiology practices across the nation and redouble our focus on our overarching mission: amplifying the profession of radiology through software.”
Today many digital health companies are looking to help radiology departments change the status quo. In September, Nuance Communications, a conversational AII tool, launched an AI-backed radiology product called the PowerScribe One reporting platform in Australia and New Zealand.
Other companies are looking to use AI to help radiologists interpret images. For example, Aidoc recently teamed up with ScreenPoint Medical on the detection of breast cancer. NVIDIA is also looking at the radiology space. In 2019, the company launched Clara AI, a tool kit for radiologists.