Funding intended to fuel continued innovation of RapidAI’s advanced clinical decision and workflow support technology; further establish a leadership position in clinical AI solutions
SAN MATEO, Calif., – July 27, 2023 – RapidAI, a global leader in developing Artificial Intelligence (AI) and technology workflow solutions to combat life-threatening neurovascular, cardiac and vascular diseases, today announced $75 million in Series C funding led by Vista Credit Partners, a subsidiary of Vista Equity Partners and strategic financing partner focused on the enterprise software, data and technology markets. The funding aims to drive platform innovation to support more disease states and go-to-market functions to accelerate growth in new regions and product verticals.
“Hospitals are increasingly looking for RapidAI solutions to solve their critical needs, including helping care teams work more efficiently and support clinical decision making for better patient outcomes,” said Karim Karti, CEO of RapidAI. “RapidAI’s advanced clinical decision support (CDS) software goes beyond simple triage and notification to provide specific, relevant and contextual data with tremendous accuracy to satisfy these demands. Vista Credit Partners’ support and access to their expertise will advance our vision, technological innovation and go-to-market efforts as we further establish our leadership position in clinical AI solutions for life-threatening diseases.”
RapidAI’s pioneering AI and workflow technology sets the standard for stroke care – the second leading cause of death globally. The company has built a comprehensive portfolio of stroke solutions, including Rapid NCCT Stroke – the first and only FDA-cleared medical device to detect suspected intracranial hemorrhage (ICH) and large vessel occlusion (LVO) from non-contrast CT imaging. Rapid NCCT Stroke provides hospitals of all sizes and imaging capabilities greater access to imaging and decision support to address a wider population of patients. RapidAI has expanded into new disease states with FDA-cleared modules for cerebral aneurysm management and the identification and notification of suspected central pulmonary embolism. The company is also developing additional modules for other disease states.
Recent milestones demonstrating RapidAI’s platform innovation and market traction include:
"Vista Credit Partners provides mission-critical enterprise software businesses with flexible capital solutions and operational support to accelerate growth and category leadership,” said David Flannery, President of Vista Credit Partners. “RapidAI is playing an outsized role in advancing patient care for life-threatening diseases with innovative clinical AI solutions. We look forward to our partnership and helping the company realize its next phase of growth.”
UBS Securities LLC served as financial advisor for RapidAI.
To learn more about RapidAI, please visit: https://www.rapidai.com/.
RapidAI is the global leader in using AI to combat life-threatening vascular and neurovascular conditions. Leading the next evolution of clinical decision-making and patient workflow, RapidAI is empowering physicians to make faster decisions for better patient outcomes. Based on intelligence gained from nearly 10 million scans in more than 2,000 hospitals in over 100 countries, the Rapid® platform transforms care coordination, offering care teams a level of patient visibility never before possible. RapidAI – where AI meets patient care.
About Vista Credit Partners
Vista Credit Partners is the credit-investing arm of Vista Equity Partners and is a strategic investor and financing partner focused on the growing enterprise software, data and technology market. Vista Credit Partners employs a highly disciplined approach to credit investing while maintaining flexibility to pursue investments offering the best relative value and investing across the capital structure. As of March 31, 2023, Vista Credit Partners has grown to over $7.2 billion of assets under management. Since formation in 2013 and as of June 30, 2023, Vista Credit Partners has deployed over $10.7 billion. For more information, please visit www.vistacreditpartners.com.
Vista Credit Partners offers solutions tailored to strategic objectives with growth-friendly terms and long-term investment horizons across both the private and broadly syndicated markets, sourcing deals directly from founder-led companies, through sponsor relationships, and from its deep network of experts, advisors and other intermediaries to support growth and unlock value through creative capital solutions and operational partnership. Vista Credit Partners has completed more than 545 software and technology transactions since inception.