Australian health technology startup harrison.ai is a $112 million series c
Medical imaging is essential for the timely identification of serious diseases such as cancer. However, manual interpretation of scans is a time-intensive process. Medical professionals are increasingly using tools powered by AI for diagnostic purposes. Because such techniques can be very effective in detecting and classifying diseases.
A startup headquartered in Sydney, Australia. harrison.aihas built AI-enabled medical diagnostic software and services to analyze CT scans, x-rays, and pathological slides for radiologists and medical examiners. On Tuesday, the startup raised $112 million, equivalent to $179 million in Series C funding, to expand its international reach in key markets such as the US, EMEA and Asia-Pacific. I’ve said that. When asked, it declined to comment on the rating.
Aware Super, ECP Asset Management and Horizons Ventures will jointly present the funding round with new investors including investors such as the National Reconstruction Fund, Ord Minnett, Wollemi Capital Group, Alpha JWC Ventures and Blackbird Ventures It’s there.
harrison.ai offers two different products: diagnostic software focused on radiology; Annalise.aiand provides a focus on pathology, Franklin.ai – Both have an overall goal of helping clinicians diagnose their medical conditions more accurately and efficiently. Startups believe that AI tools can help detect medical conditions early, facilitate treatment decisions, and reduce patient waiting times.
‘The second eye‘
“Radiation (X-ray, CT scan) and pathology (tissue biopsy) serve as important diagnostic tools to confirm medical diagnosis,” says Aengus Tran, CEO and co-founder of Harrison.AI. The doctor said in an exclusive interview with TechCrunch. “(Harrison’s) solution also serves as a second pair for radiologists and pathologists, reducing the risk of misdiagnosis of cancer and other serious illnesses, and frequently affecting patient outcomes while increasing workflow efficiency. I’ll improve it to
Startups hope that their technology will help deal with it Global shortage of Proficiency Clinicians And a surge in diagnostic demand affecting both developed and undeveloped health systems.
Harrison.ai was founded in 2018 by brothers Aengus Tran and Dimitry Tran, who grew up in Vietnam before moving to Australia. Aengus, a Sydney trained physician, saw first-hand the limitations of diagnosis and treatment ability that patients had poor outcomes. Dimitry and Aengus collaborated to create Harrison.ai using their respective experiences in healthcare strategies and medical/AI expertise, with the aim of increasing healthcare capabilities through AI automation.
The latest funding for the startup will increase Harrison.AI total to $240 million will come roughly three years later Series B Round (Approximately $92.3 million in November 2021).
Since Series B, the startup has founded Franklin.ai, its pathology solution. Meanwhile, the first product in prostate biopsy is under development and will be available per transcription in 2025.
It began monetizing Annalise.ai in 2022 and has tripled its repetitive revenues each year for the last three years for the provision of radiology departments, he added. Annalise.ai currently operates in over 1,000 healthcare facilities in various countries, helping to treat more than 6 million patients a year.
The startups currently employing around 200 employees are expanding beyond Australia, and are currently in the UK, Italy, Germany, Spain, the United Arab Emirates, New Zealand, Singapore, India, Malaysia, Vietnam, etc. We operate in 15 countries. There are regulatory clearances for clinical use in 40 countries, including 12 FDA clearances in the US, and Boston is set to have a North American presence this year.
“There is a typical software revenue model similar to many SaaS companies, making it easy for customers to buy and deploy for use in clinical practice,” said Harrison.ai CEO.
competition
In the space, AIDOC, Greamer, rad ai and Zebra. However, Tran claims that the chest x-ray products have gained regulatory clearance in 40 countries to detect up to 124 survey results, allowing them to stand out from their competitors.
The startup also claims that research shows Harrison’s AI for chest radiography can help detect lung cancer. (This information is based on research conducted in 2024 by the Asian Distance Education Institute of Healthcare provider Alfred Health.)
Similarly, according to TRAN, its CT brain products have obtained modulated clearances to detect up to 130 findings.
“This has been made possible through access to a wide range of datasets with fine-tuning over 240,000 hours for over 250 specialists,” he says, and startups using some of the new funds to equalise. He added that it will also be built. More AI automation across more diagnostic tests outside of radiology and pathology.
Last year, the company launched Harrions.rad.1. Rad.1 has launched radion.rad.1, which can answer open-ended visual questions about radiological science images, detect findings and provide explanations. Although this model is not available commercially, it has become accessible to researchers, industry partners, regulators, and has endorsed startup products, other basic models, and standard radiology tests performed by human radiologists. It exceeds.