Harrison.ai Revenue, Valuation, Funding & Investors
Harrison.ai is valued at $275M as of January 2025, a 91.7x multiple on its last reported $3M revenue.
Last Harrison.ai valuation
$275M
Series C · Jan 2025
Last Harrison.ai funding round
$112M
Series C · Feb 2025
Harrison.ai revenue
$3M
Series C · Jan 2025
Key investors in Harrison.ai
Horizons Ventures
Blackbird Ventures
Skip Capital
National Reconstruction Fund Corporation
Alpha JWC Ventures
Aware Super
About Harrison.ai
Harrison.ai is a Barongarook, Victoria-headquartered healthcare AI company developing deep learning tools for IVF embryo selection. The firm's IVY platform analyzes time-lapse video footage from incubators to predict implantation success rates. Harrison.ai integrates its software into fertility clinics' workflows in Australia and the United States, founded in 2018 to enhance clinical decision-making in reproductive medicine.
Founded
2018
HQ
GeelongWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$3M (Jan 2025)
Valuation
$275M (Jan 2025)
Harrison.ai Valuation
Harrison.ai is currently valued at $275M, based on its Series C in January 2025.
The $20M round was led by National Reconstruction Fund Corporation.
Harrison.ai valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2025 | Series C | $275M | 91.7x |
Harrison.ai Revenue
Harrison.ai's latest recorded revenue is $3M, as of its Series C in January 2025. At a $275M valuation, that implies a 91.7x revenue multiple.
Harrison.ai revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2025 | $3M | $275M | 91.7x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Harrison.ai Funding History
Harrison.ai has raised a total of $255M across 4 funding rounds.
Harrison.ai's first fundraising round was a $29M Series A in December 2019. The most recent completed round was a $112M Series C in February 2025.
Harrison.ai funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2025 | Series C | Aware Super (lead); Barrack St Investments (lead); Horizons Ventures (lead); Blackbird Ventures; Ord Minnett; Alpha JWC Ventures; Wollemi Capital Group; National Reconstruction Fund Corporation | $112M | - | Harrison.ai, a Sydney-based healthtech company founded in 2018 by brothers Dr. Aengus Tran and Dimitry Tran, develops AI-powered diagnostic support and workflow solutions for radiology and pathology. Its key products include Annalise.ai for radiology, which triages CT scans and X-rays (e.g., identifying up to 124 findings on chest X-rays and securing 12 FDA clearances, including Breakthrough Device Designation for a CT Brain algorithm with Medicare NTAP reimbursement), and Franklin.ai for pathology, with a prostate biopsy product in development for 2025. The solutions address radiologist and pathologist shortages by augmenting human expertise, improving diagnostic accuracy, and enabling remote access, deployed in over 1,000 healthcare facilities worldwide, including the UK's NHS, Hong Kong's public A&E, and Denmark's Health Region Nordjylland. In February 2025, Harrison.ai raised $112 million (AU$179 million) in an oversubscribed Series C funding round, co-led by Aware Super, ECP Asset Management (also noted as Barrack St Investments in some contexts), and Horizons Ventures, bringing total funding to over $240 million following a $92.3 million Series B in November 2021. New investors included Australia's National Reconstruction Fund Corporation, Ord Minnett, and Wollemi Capital Group, with participation from returning investors Blackbird Ventures and Alpha JWC Ventures. The company declined to disclose its valuation. Proceeds will fuel global expansion, particularly establishing a US headquarters in Boston, alongside growth in the UK, EMEA, and APAC, product development (e.g., more AI automation fine-tuned on datasets from 250+ specialist doctors over 240,000 hours), and integration via partnerships like with I-MED Radiology after merging with Annalise.ai. Harrison.ai recently launched Harrison.rad.1, a radiology-specific large language model outperforming GPT-4o and LLaVA-Med. It positions itself in a market strained by global radiologist shortages (e.g., 11 per 100,000 in the US) and healthcare access disparities, aiming to democratize diagnostics. The round is described as one of the largest in medical AI recently, supporting regulatory milestones and international deployments. |
| Jan 2025 | Series C | National Reconstruction Fund Corporation (lead) | $20M | $275M | Harrison.ai is a Sydney-based healthtech company pioneering AI-powered diagnostic support and workflow solutions for radiology and pathology, aiding in the detection of cancer and other conditions more quickly and accurately. Its technology is deployed in over 1,000 healthcare facilities worldwide, supporting more than six million patients annually, including 1 in 2 radiologists in Australia, 131 public hospitals in the UK (35% of England's chest X-ray volume), all CT Brain scans in Hong Kong's public A&E systems, and Denmark's Health Region Nordjylland. The company has secured 12 FDA clearances, with one CT Brain algorithm earning Breakthrough Device Designation and Medicare reimbursement. In January 2025, the National Reconstruction Fund Corporation (NRFC) announced a $32 million equity investment in Harrison.ai as part of its Series C funding round, marking NRFC's first investment in the medical science priority area. This followed or coincided with the broader Series C close totaling AU$179 million (US$112 million), co-led by Aware Super, ECP, and Horizons Ventures, with participation from Ord Minnett, Wollemi Capital Group, Blackbird Ventures, and Alpha JWC Ventures. The round brings Harrison.ai's total funding to over US$240 million, up from a $129 million Series B in 2021 at $208 million valuation. The post-Series C valuation reached more than $387 million, reflecting significant growth. Funds will support further development of diagnostic capabilities, global expansion especially into the US (with a new Boston presence), adoption in more hospitals, and retention of operations in Australia to create jobs for engineers and AI experts. The NRFC investment aims to bolster local medical AI capabilities and health outcomes. |
| Dec 2021 | Series B | Horizons Ventures (lead); I-MED Network Radiology; Blackbird Ventures; Sonic Healthcare; Skip Capital | $94M | - | Harrison.ai is a Sydney-based healthtech company developing AI-powered medical diagnostic support and workflow solutions for radiology and pathology, analyzing CT scans, X-rays, and pathology slides to assist clinicians. Founded by brothers Dimitry Tran and Dr. Aengus Tran, it bridges clinical medicine and computer science, with products like Annalise.ai for radiology and Franklin.ai for pathology. The company has expanded globally, serving over 1,000 healthcare facilities and supporting more than six million patients annually, including 1 in 2 Australian radiologists, 45 UK Trusts, and public systems in Hong Kong and Denmark. In November 2021, Harrison.ai raised approximately $92.3 million (AU$93.7 million equivalent) in a Series B round led by Horizons Ventures, with participation from Blackbird Ventures, Skip Capital, I-MED Network Radiology, and Sonic Healthcare. This brought total funding at the time to part of what later exceeded $240 million. Subsequent developments include full acquisition of its 40%-owned subsidiary Annalise.ai in March 2024, leading to a $47.65 million gain. In February 2025, Harrison.ai raised $112 million (AU$178-179 million) in Series C, co-led by Aware Super, ECP, and Horizons Ventures, with Blackbird Ventures returning, totaling over $240 million raised. This funded US expansion, product roadmap, and growth in EMEA and APAC. The company reported $4.75 million in revenue for the financial year ending June 30, 2024, with a net profit driven by the Annalise.ai gain but underlying losses from workforce growth; it has tripled radiology ARR yearly since 2022 under a SaaS model. |
| Dec 2019 | Series A | Blackbird Ventures (lead); Ramsay Health; Horizons Ventures; Skip Capital | $29M | - | Harrison.ai is an Australian AI-powered medtech company developing clinical-grade AI models to enhance diagnostics in radiology, fertility, and other healthcare areas, partnering with organizations like Virtus Health, I-Med, and Ramsay Health Care. Its Series A round on December 9-10, 2019, raised AUD 29 million (approximately $19.8 million USD), led by Blackbird Ventures with participation from Horizons Ventures, Skip Capital, and Ramsay Health Care. The funding supported recruitment of data science and software engineering staff and development of new AI applications, including the Ivy algorithm for embryo selection in IVF, which achieved a 93% success rate in preclinical trials. Harrison.ai's technology now supports over 1,000 healthcare facilities worldwide, aiding six million patients annually, with solutions available to half of Australia's radiologists and significant adoption in the UK, Hong Kong, and Denmark. It has secured 12 FDA clearances and focuses on global expansion, including a US presence in Boston. |
Who has invested in Harrison.ai?
12 investors have backed Harrison.ai across its funding rounds, including Horizons Ventures, Blackbird Ventures, Skip Capital, National Reconstruction Fund Corporation, Alpha JWC Ventures and Aware Super.
Lead investors include Aware Super, Barrack St Investments, Horizons Ventures, National Reconstruction Fund Corporation and Blackbird Ventures.
Harrison.ai Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Sydney | 3 | Lead | Dec 2019 | |
 Hong Kong | 3 | Lead | Dec 2019 | |
| Canberra | 2 | Lead | Jan 2025 | |
| Sydney | 2 | Participant | Dec 2019 | |
| Sydney | 1 | Participant | Dec 2021 | |
| Sydney | 1 | Lead | Feb 2025 | |
| Newcastle | 1 | Participant | Dec 2021 | |
| Sydney | 1 | Participant | Feb 2025 | |
| Australia | 1 | Lead | Feb 2025 | |
| Sydney | 1 | Participant | Dec 2019 | |
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Start Free TrialAcquisitions by Harrison.ai
Harrison.ai has acquired 1 company to date.
Last acquisition by Harrison.ai was on April 12th 2024. Harrison.ai acquired Annalise.ai for undisclosed valuation.
Latest Acquisitions by Harrison.ai
| Description | Annalise.ai is a Sydney-headquartered developer of AI-powered radiology software. The Enterprise platform processes chest X-rays to identify over 120 conditions, including pneumonia and fractures, with FDA clearance obtained in 2022. Deployed in hospitals across Australia, the UK, New Zealand, and the US, it enhances diagnostic accuracy and speed for radiologists. Annalise.ai integrates deep learning models trained on millions of imaging studies. |
| HQ Country | |
| HQ City | Sydney |
| Deal Date | 12 Apr 2024 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Harrison.ai acquisitions and their M&A valuation multiples. Start Free Trial | |
Harrison.ai Competitors
Harrison.ai competitors include listed companies like eVISO and Perfect Corp., and private ones like Siro, Brightseed, Freehand and Liberate Innovations.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 New York City, NY | Private | - | - | $273M | - | |
 Italy | Publicly listed | $363M | $12M | $277M | 0.6x | |
| San Francisco, CA | Private | - | - | $300M | - | |
| -- | Private | - | - | $300M | - | |
| San Francisco, CA | Private | - | - | $300M | - | |
| United States | Publicly listed | $69M | $636K | $198M | 0.5x |
Harrison.ai Public Comps
Harrison.ai is still privately-owned, but its public comps include CS Disco, eVISO, ZipRecruiter, Fortifai, Perfect Corp., Cerence, DSC Holdings, Ever Fortune.AI, Cmes Robotics and Voicecomm International.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $157M | ($44M) | 1.1x | 1.0x | (4.0x) | (22.1x) | |||
| $363M | $12M | 0.7x | 0.6x | 22.8x | 16.6x | |||
| $449M | ($7M) | 0.9x | 0.9x | (62.1x) | 7.3x | |||
| $3M | ($1M) | 62.7x | - | (150.0x) | - | |||
| $69M | $636K | 0.5x | 0.5x | 56.9x | 11.9x | |||
| $252M | $8M | 1.7x | 1.4x | 52.9x | 6.2x | |||
| $101M | ($10M) | 3.3x | - | (34.3x) | - | |||
| $12M | $4M | 12.3x | - | 36.2x | - | |||
This data is available for Pro users. Sign up to see all Harrison.ai competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Harrison.ai
| When was Harrison.ai founded? | Harrison.ai was founded in 2018. |
| Where is Harrison.ai headquartered? | Harrison.ai is headquartered in Geelong, Australia. |
| Is Harrison.ai publicly listed? | No, Harrison.ai is a private, VC-backed company. |
| What is Harrison.ai's valuation? | Harrison.ai was last valued at $275M in its Series C in January 2025. |
| How much funding has Harrison.ai raised? | Harrison.ai has raised $255M across 4 funding rounds. |
| What was Harrison.ai's last funding round? | Harrison.ai's last funding round was a $112M Series C in February 2025, led by Aware Super, Barrack St Investments and Horizons Ventures. |
| Who are Harrison.ai's investors? | Harrison.ai's investors include Blackbird Ventures, Horizons Ventures, National Reconstruction Fund Corporation, Skip Capital, I-MED Network Radiology, Aware Super, Sonic Healthcare, Ord Minnett, Barrack St Investments, Ramsay Health and 2 others. |
| What is Harrison.ai's revenue? | Harrison.ai's latest recorded revenue is $3M (January 2025). |
| What is Harrison.ai's revenue multiple? | Harrison.ai's latest valuation implies a 91.7x revenue multiple ($275M valuation on $3M of revenue). |
| Which companies are comparable to Harrison.ai? | Companies comparable to Harrison.ai include Siro, eVISO, Brightseed, Freehand, Liberate Innovations and Perfect Corp.. |
| How many companies has Harrison.ai acquired? | Harrison.ai has acquired 1 company, including Annalise.ai. |
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