Alpha Partners recently completed an investment in Rad AI in collaboration with Santa Barbara Venture Partners (SBVP) for the company’s Series B round. This investment is part of Alpha Partners’ strategy to fill out growth or expansion stage financing rounds efficiently and collaboratively.

Dan Engel, General Partner and Founder of SBVP, expressed his enthusiasm about the partnership: “We’ve gotten to know the team at Alpha Partners over the last few years and have been looking for a way to collaborate. We’ve been excited about Rad AI since day one and even happier that we invested more into the company through a partnership with Alpha. We look forward to future collaborations between Alpha and Santa Barbara Venture Partners.” 

Rad AI, founded in 2018 by Dr. Jeff Chang and Doktor Gurson, is at the forefront of transforming radiology through AI. The company has developed proprietary large language models specifically tailored for radiology report datasets. This technology automates the generation of radiology reports, which reduces the time radiologists spend on documentation. Rad AI’s innovative tools are now used by approximately one-third of U.S. health systems and nine of the top ten largest radiology groups in the country.

The investment from Alpha Partners, along with existing investors such as Khosla Ventures, World Innovation Lab, ARTIS Ventures, OCV Partners, Kickstart Fund, and Gradient Ventures, has propelled Rad AI’s Series B funding to $50 million. This round elevates the total capital raised by the company to over $80 million and will facilitate the deployment of Rad AI’s new standalone radiology reporting solution.

Looking ahead, Rad AI plans to expand its staff to support the increased demand for software installation and maintenance. This growth strategy will ensure the continued success and efficiency of its AI-powered solutions in healthcare settings.

For more insights into Rad AI and its transformative AI solutions in radiology, refer to a recent article on the company published in TechCrunch.

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