Harrison.ai expands to US after $178m funding boost
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The news: Sydney-based health tech startup Harrison.ai said it is expanding its operations in the US after raising USD112 million ($177.95 million) in a Series C funding round to scale its AI-enabled medical diagnostic software internationally.
The funding round will also help fuel its product roadmap and growth in the UK, EMEA, and Asia Pacific, it said in a statement.
The numbers: The company did not disclose the valuation at which the funding round was taken.
The funding was co-led by Aware Super, ECP Asset Management and Horizons Ventures. Australia’s National Reconstruction Fund also participated, debuting as an investor with a $32 million equity investment.
Other investors included Ord Minnett, Wollemi Capital, Alpha JWC Ventures and Blackbird Ventures, the company said.
The context: Founded in 2018 by Dr Aengus Tran and Dimitry Tran, Harrison.ai develops AI solutions for medical diagnostics, focusing on radiology (Annalise.ai) and pathology (Franklin.ai).
The startup began monetising Annalise.ai in 2022, tripling annual recurring revenue for the radiology offering for three consecutive years, the company told TechCrunch.
Part of the funding will also be used to build out AI automation across more diagnostic tests beyond radiology and pathology, the company said.
The sources: Harrison.ai announcement, TechCrunch
