Viz.ai Secures $50 Million Series B Funding to Advance AI-Powered Synchronized Stroke Care

VCBeat (WeChat ID: vcbeat) has learned that on October 24, 2019, Viz.ai announced the completion of a $50 million Series B financing round. The round was led by Greenoaks, with participation from Threshold Ventures, CRV, and existing investors GV and Kleiner Perkins.

Viz, founded in San Francisco, USA in 2016, is a leader in applying artificial intelligence technology to the healthcare sector. Viz’s mission is to fundamentally improve the delivery of global healthcare through intelligent software.

Viz’s flagship product, Viz LVO, leverages advanced deep learning capabilities to identify suspected large vessel occlusions (a disabling type of stroke) in CT scans and alert stroke team specialists, with the entire process taking only a few minutes. By notifying specialist physicians in a timely manner and enabling synchronized care, Viz LVO significantly reduces patients’ treatment time and increases the likelihood of successful outcomes.

In February 2018, Viz LVO—the first-ever software for computer-aided triage and notification—received approval from the U.S. Food and Drug Administration (FDA). Subsequently, Viz CTP obtained FDA 510(k) marketing clearance, providing healthcare enterprises with a critical tool for automated analysis of brain perfusion images.

Viz.ai has now become one of the fastest-growing healthcare companies in the field of artificial intelligence. Recently, it was named by Forbes as one of “America’s Most Promising AI Companies.”

“By saving time for hospital systems to process throughout the entire treatment journey, we have saved patients a significant amount of cost, and most importantly, this can improve their treatment outcomes,” said Chris Mansi, CEO of Viz.ai. “We will leverage this round of funding to expand synchronized care to more countries and regions, democratizing the quality of healthcare globally.”

Viz.ai’s acute ischemic stroke software is now available at more than 300 hospitals across the United States. “Viz.ai reduces treatment times, enabling us to provide optimal care for our patients. Stroke is the leading cause of long-term disability, so every minute counts!” said J Mocco, Professor and Vice Chair of Neurosurgery at Mount Sinai Health System.

Neil Shah of Greenoaks said, “We believe Viz.ai is the future of healthcare. As costs rise and public scrutiny of care intensifies, hospitals need to deliver the highest-quality care in the shortest amount of time.”

Greenoaks, founded in 2012 and headquartered in San Francisco, is a private investment firm dedicated to making concentrated, long-term investments in internet companies worldwide.

Threshold is an early-stage venture capital firm spun out of DFJ Venture. The company focuses on partnering with businesses that cultivate new types of consumers and with medical technology companies.

CRV, founded in 1970, is dedicated to investing in early-stage technology companies. It has invested in more than 400 startups to date, including Twitter, Zendesk, Amgen, Parametric Technology Corporation, and Yammer. Half of CRV’s portfolio companies have gone public or been acquired.

GV, established in 2008, is the venture capital arm of Alphabet. The firm focuses on investments in life sciences, healthcare, artificial intelligence, robotics, transportation, cybersecurity, and agriculture, and has invested in more than 300 companies to date.

Kleiner Perkins, founded in 1972, is a venture capital firm based in Silicon Valley, USA. It was an early investor in many renowned companies, such as Amazon, Genentech, and Google.

(Compiled by Jiang Ying)