Digital Diagnostics, a Coralville, Iowa-based pioneer in artificial intelligence diagnostic health care technology, announced the completion of a $75 million Series B funding, bringing the company’s total amount raised to more than $130 million.
The round was led by global investment firm KKR, with new and existing investors including Cedar Pine, Kinderhook, 8VC, Optum Ventures, OSF Ventures, Gundersen Health System, Edward-Elmhurst Health Venture Capital, and the University of Iowa participating.
The funds will be used by Digital Diagnostics to accelerate its product roadmap, expand its distribution footprint, and invest in sales and marketing.
Ali Satvat, KKR Partner and Global Head of Health Care Strategic Growth, and Stephen Weiss, Cedar Pine Managing Director, have joined the company's board of directors.
Company: Digital Diagnostics Inc.
Round: Series B
Funding Month: Aug 2022
Lead Investors: KKR
Additional Investors: Cedar Pine, Kinderhook, 8VC, Optum Ventures, OSF Ventures, Gundersen Health System, Edward-Elmhurst Health Venture Capital, and the University of Iowa
Company Website: https://www.digitaldiagnostics.com/
Software Category: AI Diagnostics
About the Company: Digital Diagnostics, Inc. is a cutting-edge AI diagnostics company on a mission to improve the quality, accessibility, equity, and affordability of global health care by incorporating technology into the medical diagnosis and treatment process. Michael Abramoff, MD, PhD, a neuroscientist, fellowship-trained retina specialist, and computer engineer, founded the company, which is now led by co-founders John Bertrand, CEO, and Seth Rainford, President, and COO. Digital Diagnostics developed a patented biomarker-based approach to build autonomous algorithms that make clinical decisions without human intervention. Digital Diagnostics is paving the way for autonomous and assistive AI diagnosis to become a new standard of care, thereby contributing to the democratization of health care and the closure of care gaps. To enable the adoption of autonomous AI, the company collaborates closely with patient advocacy groups, federal regulators, and other quality-of-care and ethics-focused stakeholders.