Caption Health, a California-based healthcare technology company, has closed a Series B funding round worth $53 million. The round was led by DCVC, with other contributions coming from Atlantic Bridge, Edwards Lifesciences and Khosla Ventures.
The funds are expected to go toward the continued development and commercialization of its AI-powered ultrasound solution, Caption AI, which allows users “without lengthy specialized training” to capture high-quality images.
Caption AI, authorized by the FDA back in February, has hit the U.S. market faster than originally scheduled due to the ongoing COVID-19 pandemic. Eleven medical centers in the country are already utilizing the software to deliver patient care.
“We are truly grateful to our investors and to our early adopter clinicians, who have believed in us from the beginning,” Charles Cadieu, Caption Health CEO, said in a statement. “This capital will enable us to scale our collaborations with leading research institutions, regional health systems and other providers by making ultrasound available where and when it is needed—across departments, inside and outside the hospital. As the world's first and only AI-guided ultrasound technology, our goal is to enable all clinicians—regardless of prior experience—to capture diagnostic-quality ultrasounds.”
“Caption Health is working towards a future where looking inside the body becomes as routine as a blood pressure cuff measurement,” added Armen Vidian, a partner at DCVC. “Simplifying ultrasound is critical to providing fast, effective care.”