On Dec 1, 2021, Harrison.ai, a groundbreaking healthcare AI company, announced it had raised US$97 million in one of Australia’s largest-ever Series B funding rounds.
The money will go toward helping Harrison.ai achieve its goal of rapidly commercialising comprehensive clinical AI applications to scale critical capacity in the global healthcare system.
Sonic Healthcare and I-MED Radiology Network made new equity investments in the Series B funding round, led by existing investor Horizons Ventures, and included existing investors Blackbird Ventures and Skip Capital.
Harrison.ai has now raised a total of US$$118 million in the last two years.
Harrison.ai also announced a new collaboration with Sonic Healthcare, a leader in medical diagnostics, to co-develop and commercialise new clinical AI pathology solutions.
The Joint Venture will result in new AI applications that will help pathologists diagnose diseases more efficiently and effectively.
Harrison.ai plans to use the new funds to rapidly expand its team of AI data scientists and engineers and expand into new areas of healthcare with global clinical partners.
Harrison.ai will expand globally while leveraging medical expertise and reach thanks to a combination of global investors like Horizons Ventures and strategic clinical investors.
Due to ongoing increases in healthcare demand, skills shortages, and pandemic-related backlogs in clinical demand, capacity in many clinical diagnosis and treatment areas is strained.
Skilled radiologists and clinicians are in short supply in developed healthcare systems such as the UK and the US, with significantly more staff needed to meet rising demand for diagnosis.
Despite the shortage, there is a significant disparity to other markets: the US has approximately 11 radiologists per 100,000 people, while Kenya has only 0.35 radiologists per 100,000 people.
Dr Aengus Tran, Co-Founder and CEO of Harrison.ai, said: “Delivering equitable, effective and accurate healthcare to more people is a critical part of our mission at Harrison.ai, and as we emerge from the pandemic that mission is more important than ever.
“With our model and methodology now proven across multiple clinical areas, we are in a position to expand to new clinical areas and deliver on our mission with the support of our investors and partners.”
Chris Liu from Horizons Ventures said: “Harrison.ai’s distinct approach to AI healthcare has enabled the team to commercialise market-leading solutions at a record pace with its partners. We look forward to working closely with the team and our partners to help augment the capacity of healthcare systems globally.”