Caption Health, a US-based provider of intelligent ultrasound diagnostics technology, completed a $53m series B round featuring medical device maker Edwards Lifesciences yesterday.
The round was led by DCVC (also known as Data Collective) and also backed by fellow venture capital firm Khosla Ventures and growth equity fund Atlantic Bridge.
Founded in 2013 as Bay Labs, Caption is developing a medical imaging system that uses artificial intelligence to help care providers obtain clear diagnostic images through ultrasound without extensive training.
The round brought the company’s funding to approximately $60m altogether and the cash will be used to grow its commercial activities as it explores strategic partnerships and continues to improve its product.
Charles Cadieu, Caption’s CEO, said: “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.”
Khosla Ventures led Caption’s $5.5m series A round in 2017, investing with DCVC and Minneapolis Heart Institute Ventures, a subsidiary of care provider Minneapolis Heart Institute, as well as Greenbox Venture Partners and Georges Harik.
