PaxeraHealth, a Boston, MA-based imaging and AI developer, announced that it closed a series A financing round led by Sopris Capital, a venture capital firm focused on technology-enabled healthcare solutions.
The financing will enable PaxeraHealth to accelerate its enterprise medical imaging and AI authoring platform capabilities, expand its offerings to more healthcare facilities, and continue providing best-in-class support and services for its fast-growing and high-profile client base.
“We are thrilled to partner with a supportive, successful investor who sees the disruptive potential of AI in healthcare,” said Dr. Mohamed Shoura, founder and chief executive officer, PaxeraHealth. “Our goal is not to build yet another AI algorithm, but to democratize AI in medical imaging and make it accessible, affordable, and faster to deploy. PaxeraHealth’s industry-first “Algorithm as a Service” platform is designed to enable healthcare facilities to create AI algorithms with no coding, using their own imaging data sets. This will accelerate AI adoption and help reduce diagnostic errors in medical imaging, thus reducing overall healthcare costs.”
PaxeraHealth’s zero-coding authoring platform offers “Algorithm as a Service,” which is designed to expedite the production of clinically validated imaging AI algorithms and reduce algorithm development timelines and costs.
Company: PaxeraHealth Corp.
Round: Series A
Funding Month: December 2022
Lead Investors: Sopris Capital
Company Website: https://paxerahealth.com/
Software Category: Healthcare Solution
About the Company: PaxeraHealth Corp. is a developer of medical imaging platform that helps radiologists and physicians manage imaging studies and DIY AI algorithms. It designs next-generation technology to automate clients’ workflows, elevate patient care, and improve clinical, financial, and operational outcomes. The company offers Algorithms as a Service and a zero-coding authoring platform to enable healthcare systems to self-develop and expedite the production of clinically validated imaging AI algorithms. Additionally, they have developed native AI algorithms for its imaging platforms that concurrently aid with analyzing large sets of data, prioritizing high-risk studies, decreasing reading times, and reducing false positives and costly patient recalls. The company has won the Best in KLAS award for Global PACS for the last three years in a row. PaxeraHealth is based in Boston, MA.