Rad AI Named to the 2022 CB Insights AI 100 List of Most Promising Artificial Intelligence Companies
Rad AI recognized for achievements in automated radiology report impressions (Omni) and closing the loop on incidental findings (Continuity)
NEW YORK, May 17, 2022 -- CB Insights today named Rad AI to its annual AI 100 ranking, showcasing the 100 most promising private artificial intelligence companies in the world.
"This is the sixth year that CB Insights has recognized the most promising private artificial intelligence companies with the AI 100. This year's cohort spans 13 industries, working on everything from recycling plastic waste to improving hearing aids. Last year's AI 100 companies had a remarkable run, raising more than $6 billion, including 20 mega-rounds worth more than $100 million each. We’re excited to watch the companies on this year’s list continue to grow and create products and services that meaningfully impact the world around them.”
-Brian Lee, SVP of CB Insights’ Intelligence Unit
Utilizing the CB Insights platform, the research team picked 100 private market vendors from a pool of over 7,000 companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed thousands of Analyst Briefings submitted by applicants.
“We are honored to be named to CB Insights' AI 100 list of most promising private artificial intelligence companies in the world. Over the past two years, we have received numerous awards and accolades, and we know that this is largely due to how vocal our partners are about the positive impact they are achieving with our industry leading AI solutionsAs more hospitals and radiology practices proactively reach out to us, we are excited to continue our rapid expansion and to provide even more benefit to our future partners.”
-Josh Duncan, VP of Sales and Customer Success at Rad AI
Founded in 2018, Rad AI has seen rapid adoption of its AI platform, and is recognized broadly as one of the most impactful as well as fastest growing AI startups. At the end of 2021, Rad AI was recognized as the Best New Radiology Vendor by AuntMinnie, and CB Insights named Rad AI to its third annual Digital Health 150, which showcases the 150 most promising digital health startups in the world. In January 2022, Black Book ranked Rad AI #1 in Mean KPI score on its survey revealing 50 emerging solutions challenging the healthcare technology status quo.
Rad AI uses state-of-the-art machine learning to streamline repetitive tasks for radiologists, which yields substantial time savings, alleviates burnout, and creates more time to focus on patient care. Its first product, Omni, saves radiologists an average of 60 minutes per day, and helps achieve up to 20% time savings per report.
Rad AI’s second product, Continuity, closes the loop on follow-up recommendations for significant incidental findings in radiology reports. Using AI-driven automation, Continuity ensures that appropriate patient follow-up is communicated and completed. This improves patient outcomes, reduces health system liability, and drives new financial value for health systems and radiology practices. Continuity integrates directly into health systems’ EHR, and also has a platform available for outpatient imaging.
Rad AI co-founder Dr. Jeff Chang is the youngest radiologist and second youngest doctor in U.S. history. After working over a thousand overnight shifts as an ER radiologist for the past decade, he clearly saw some of the biggest problems radiologists face - fatigue and burnout, errors in reporting, and a shortage of radiologists despite rising imaging volume. After pursuing graduate work in machine learning, he co-founded Rad AI to provide ways to help radiologists, radiology practices, hospitals, and health systems using the latest advances in AI.
"Omni, our AI solution for automated radiology report impressions, is having an incredibly positive impact on radiologist efficiency and the quality of radiology reports while also reducing radiologist burnout. We are seeing accelerated expansion of Omni adoption, as hospitals, health systems, and radiology practices encourage their peers to prioritize a partnership with Rad AI. At the same time, health systems are reaching out to us to learn more about Continuity, because of the great feedback they are hearing from hospital executives where we are deployed.”
-Dr. Jeff Chang, co-founder and Chief Product Officer of Rad AI
Quick facts on the 2022 AI 100:
- Equity funding and deals: Since 2017, the 2022 AI 100 cohort has raised $12 billion+ from 650 investors, across 300+ equity deals.
- Unicorns: There are 16 companies with $1 billion+ valuations on the list.
- Geographic distributions: Seventy-three of the selected companies are headquartered in the US. Eight of the winners are based in the UK, followed by five in Canada. Other countries represented in this year’s list include India, Sweden, China, and Germany.
About CB Insights
CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
About Rad AI:
Rad AI is the fastest growing radiologist-led AI company. In addition to winning the 2021 award for “Best New Radiology Vendor” from AuntMinnie, Rad AI ended the year by being named to the 2021 CB Insights Digital Health 150 list of “Most Innovative Digital Health Startups.” In 2022, Black Book ranked Rad AI #1 in Mean KPI score on its survey revealing 50 emerging solutions challenging the healthcare technology status, and Rad AI continued the momentum by being recognized in the 2022 CB Insights list of “100 Most Promising AI Companies.”
Founded in 2018 by the youngest radiologist in US history, Rad AI has seen rapid adoption of its AI platform, and is already in use at 8 of the 10 largest private radiology practices in the US. Rad AI uses state-of-the-art machine learning to streamline repetitive tasks for radiologists, which yields substantial time savings, alleviates burnout, and creates more time to focus on patient care.
Learn more about Rad AI at www.radai.com or on Twitter @radai.