Rad AI Valuation, Funding & Investors
Rad AI is valued at $525M as of May 2025.
Last Rad AI valuation
$525M
Series C · May 2025
Last Rad AI funding round
$8M
Series C · May 2025
Cumulative funding Rad AI raised
$151M
across 5 funding rounds
Key investors in Rad AI
Kickstart
Gradient
OCV
Khosla Ventures
World Innovation Lab
City Light Capital
About Rad AI
Rad AI is a San Francisco-headquartered developer of AI radiology reporting software that drafts structured notes from imaging studies. Its platform processes MRI, CT, and X-ray inputs to generate RSNA-compliant templates, integrating with PACS like Epic Radiant and Cerner. Rad AI reduces reporting time by half for chest X-rays and mammography, deployed in over 500 US hospitals. Founded in 2018, the company partners with GE Healthcare for workflow enhancements.
Founded
2018
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$525M (May 2025)
Rad AI Valuation
Rad AI is currently valued at $525M, based on its Series C in May 2025.
The $8M round was led by Advocate Health, Atlantic Health System, Corewell Health Ventures and Memorial Hermann Health System.
Rad AI's valuation has moved from $525M at its Series C in January 2025 to $525M in May 2025, across 2 priced rounds.
Rad AI valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2025 | Series C | $525M |
| Jan 2025 | Series C | $525M |
Rad AI Funding History
Rad AI has raised a total of $151M across 5 funding rounds.
Rad AI's first fundraising round was a $8M seed round in August 2020. The most recent completed round was a $8M Series C in May 2025.
Rad AI funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2025 | Series C | Advocate Health (lead); Atlantic Health System (lead); Corewell Health Ventures (lead); Memorial Hermann Health System (lead) | $8M | $525M | Rad AI is a healthcare generative AI company focused on radiology workflow automation. The company developed AI-enabled solutions including Rad AI Reporting (which reduces dictation time by up to 50% and spoken words by 90%) and Rad AI Continuity (for patient follow-up management). Its technology is used by over 40% of U.S. health systems and 9 of the 10 largest radiology practices, accounting for nearly 50% of all medical imaging done in the U.S. Rad AI closed a Series C financing round at a $525M valuation on January 30, 2025, raising $60M led by Transformation Capital with participation from existing investors Khosla Ventures, World Innovation Lab, UP2398, Kickstart Fund, OCV Partners, and Cone Health. On May 20, 2025, the company announced an additional $8M in strategic investments from four leading health systems—Advocate Health, Memorial Hermann Health System, Corewell Health, and Atlantic Health System—bringing total Series C funding to $68M. Combined with prior rounds, Rad AI has raised over $140M to date. The company has demonstrated exceptional growth, ranking No. 107 on the 2025 Inc. 5000 list with three-year revenue growth of 3,229% (2021–2024) and No. 36 on the 2025 Deloitte Technology Fast 500 with 3,224% growth. Rad AI Reporting enables radiologists to complete reports twice as fast while reducing dictation time by up to 50%, and its solutions increase patient follow-up rates for actionable findings from 30% to over 85%. The company's technology partnership with Google includes integration with MedLM, Google's healthcare-focused AI models. |
| Jan 2025 | Series C | Transformation Capital (lead); Kickstart; UP2398; World Innovation Lab; Khosla Ventures; OCV; Cone Health | $60M | $525M | Rad AI, founded in 2018 by Doktor Gurson and Jeff Chang in San Francisco, develops generative AI solutions for radiology to automate workflows, reduce radiologist burnout, and improve patient care. Its flagship products include Rad AI Reporting, which generates draft report text to cut dictated words by up to 90% and save up to 50% of time, Rad AI Impressions for efficient reporting, and Rad AI Continuity for follow-up on actionable findings like potential new cancers. The platform is used by thousands of radiologists at health systems and practices accounting for nearly 50% of U.S. medical imaging, with adoption across North America including Canada. In January 2025, Rad AI raised $60 million in an oversubscribed Series C round led by Transformation Capital, with participation from existing investors Khosla Ventures, World Innovation Lab, UP2398, Kickstart Fund, OCV Partners, and Cone Health, bringing total funding to over $140 million. The round valued the company at $525 million post-money and was a preemptive raise following the $50 million Series B led by Khosla Ventures in May 2024. Funds will accelerate development and deployment of generative AI technology globally, expand the workforce, and solidify its position as a leader in healthcare AI. Rad AI has demonstrated strong growth, named the 19th fastest-growing company in North America on Deloitte's Fast 500 in November 2024 and listed by TRAC as a future unicorn with potential to reach $1 billion valuation. It partners with Bayer to integrate its AI tools into the Calantic Digital Solution marketplace. Competitors include Sirona Medical, which raised $42 million Series C in November 2024. |
| May 2024 | Series B | Khosla Ventures (lead); Esplanade Ventures; Kickstart; Hyperlink Ventures; World Innovation Lab; Artis Ventures; OCV; Gradient; QuantumLight | $50M | - | Rad AI develops generative AI solutions for radiology, helping radiologists generate reports faster and reduce documentation time, addressing physician shortages and burnout. The company launched its first product five years prior to 2024 and has achieved rapid adoption, powering workflows in about a third of U.S. health systems and nine of the 10 largest radiology groups. Its proprietary large language models are trained on massive radiology datasets from partnerships with leading health systems, enabling high accuracy and user customization. Rad AI Reporting reduces dictated words by up to 90%, and products like Rad AI Continuity ensure proper patient follow-up. On May 7, 2024, Rad AI closed a $50 million Series B funding round led by Khosla Ventures, with participation from World Innovation Lab and existing investors including ARTIS Ventures, OCV Partners, Kickstart Fund, and Gradient Ventures (Google's AI fund). This brought total capital raised to over $80 million. Funds will expand deployment of its standalone radiology reporting solution, hire installation and maintenance teams, and accelerate global rollout amid strong demand. The company reported revenue tripling year-over-year as of May 2024, reflecting robust growth. It ranked #1 in mean KPI score on Black Book's survey of 50 emerging HealthTech solutions. Rad AI claims 99-100% market share in its niche with no customer loss. Later, in January 2025, it raised a $60 million Series C led by Transformation Capital at a $525 million valuation, including many of the same investors, bringing total funding over $140 million; this is a separate round. |
| Nov 2021 | Series A | Artis Ventures (lead); Quarry; Kickstart; Santa Barbara Venture Partners; OCV; Gradient; City Light Capital | $25M | - | Rad AI, a radiologist-led AI company founded to address radiologist burnout, closed a $25 million Series A funding round on November 10, 2021, led by Artis Ventures with participation from existing investors including OCV Partners, Kickstart Fund, Gradient Ventures (Google’s AI fund), Santa Barbara Venture Partners, and Quarry Ventures, among others. This brought the company's total funding to $34 million at the time. The capital was intended to advance development and commercialization of its core AI products, Rad AI Omni for automating radiology report writing with features like billing language improvements and error correction, and Rad AI Continuity for patient follow-up management with EMR/RIS integrations. Subsequently, Rad AI raised a $50 million Series B in May 2024 led by Khosla Ventures, with revenue tripling year-over-year and adoption by over one-third of US health systems, bringing total funding over $80 million, followed by a $60 million Series C in January 2025 led by Transformation Capital at a $525 million valuation, with solutions used by thousands of radiologists covering nearly 50% of US medical imaging. |
| Aug 2020 | Seed | Gradient (lead); Kickstart (lead); UP2398; Array Ventures; Harmonix Fund; Precursor Ventures; Hike Ventures; Fifty Years; Immad Akhund; GMO VenturePartners; City Light Capital | $8M | - | Rad AI raised $8 million in its Seed round in August 2020, led by Gradient and Kickstart, with participation from Array Ventures, City Light Capital, Fifty Years, GMO VenturePartners, Harmonix Fund, Hike Ventures, Immad Akhund, Precursor Ventures, UP2398, among others. The funding supported development of initial AI-driven products and establishing a foothold in the radiology market. Rad AI develops AI solutions for radiology workflows, including tools to automate report writing, improve accuracy, and reduce radiologist burnout. The company has since raised additional rounds, including a $25 million Series A in November 2021 led by Artis Ventures (valuation not disclosed) and a $50 million Series B in May 2024 led by Khosla Ventures. In January 2025, Rad AI closed a $60 million Series C led by Transformation Capital at a $525 million valuation, bringing total funding over $140 million. Rad AI's solutions are used by thousands of radiologists at health systems accounting for nearly 50% of U.S. medical imaging. |
Who has invested in Rad AI?
26 investors have backed Rad AI across its funding rounds, including Kickstart, Gradient, OCV, Khosla Ventures, World Innovation Lab and City Light Capital.
Lead investors include Advocate Health, Atlantic Health System, Corewell Health Ventures, Memorial Hermann Health System, Transformation Capital and 4 other investors.
Rad AI Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Salt Lake City, UT | 4 | Lead | Aug 2020 | |
| Los Angeles, CA | 3 | Participant | Nov 2021 | |
| San Francisco, CA | 3 | Lead | Aug 2020 | |
| San Francisco, CA | 2 | Participant | Aug 2020 | |
| San Francisco, CA | 2 | Participant | May 2024 | |
| San Francisco, CA | 2 | Lead | Nov 2021 | |
| San Francisco, CA | 2 | Lead | May 2024 | |
| New York City, NY | 2 | Participant | Aug 2020 | |
 Toronto | 1 | Participant | May 2024 | |
| San Francisco, CA | 1 | Participant | Nov 2021 | |
| -- | 1 | Lead | May 2025 | |
| United States | 1 | Participant | May 2024 | |
| San Francisco, CA | 1 | Participant | Aug 2020 | |
This data is available for Pro users. Sign up to see all 26 Rad AI investors. Start Free Trial | ||||
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Start Free TrialRad AI Competitors
Rad AI competitors include listed companies like RaySearch Labs and Lunit, and private ones like Suki, Plenful, Heidi Health and Latent.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | $105M | - | $500M | - | |
| San Francisco, CA | Private | - | - | $487M | - | |
 Sydney | Private | $15M | - | $465M | 31.0x | |
| San Francisco, CA | Private | - | - | $600M | - | |
 Sweden | Publicly listed | $137M | $59M | $583M | 4.2x | |
 South Korea | Publicly listed | $61M | ($9M) | $450M | 6.4x |
Rad AI Public Comps
Rad AI is still privately-owned, but its public comps include Veradigm, Intelligo Technology, Assure Tech, Claritev, Equasens, Heren Health, Shang Gong Group, Beijing Hanyi Innovation, ExaWizards and Guiyang Longmaster.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $588M | $54M | 0.9x | 0.9x | 9.8x | 6.8x | |||
| $50M | $20M | 8.4x | 8.4x | 20.8x | - | |||
| $67M | $18M | 4.8x | - | 17.9x | - | |||
| $965M | $466M | 5.4x | 5.2x | 11.2x | 8.5x | |||
| $272M | $75M | 1.9x | 1.8x | 7.0x | 6.7x | |||
| $65M | $11M | 7.4x | - | 42.4x | - | |||
| $649M | $27M | 1.0x | - | 23.7x | - | |||
| $28M | $5M | 15.6x | 13.9x | 89.9x | 50.9x | |||
This data is available for Pro users. Sign up to see all Rad AI competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Rad AI
| When was Rad AI founded? | Rad AI was founded in 2018. |
| Where is Rad AI headquartered? | Rad AI is headquartered in San Francisco, CA, United States. |
| Is Rad AI publicly listed? | No, Rad AI is a private, VC-backed company. |
| What is Rad AI's valuation? | Rad AI was last valued at $525M in its Series C in May 2025. |
| How much funding has Rad AI raised? | Rad AI has raised $151M across 5 funding rounds. |
| What was Rad AI's last funding round? | Rad AI's last funding round was a $8M Series C in May 2025, led by Advocate Health, Atlantic Health System, Corewell Health Ventures and Memorial Hermann Health System. |
| Who are Rad AI's investors? | Rad AI's investors include Kickstart, OCV, Gradient, UP2398, World Innovation Lab, Artis Ventures, Khosla Ventures, City Light Capital, Esplanade Ventures, Quarry and 16 others. |
| Which companies are comparable to Rad AI? | Companies comparable to Rad AI include Suki, Plenful, Heidi Health, Latent, RaySearch Labs and Lunit. |
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