Harrison.ai Secures $112M Series C Funding to Expand AI-Powered Medical Diagnostic Tools

Australian Health Tech Startup Secures Major Funding

Harrison.ai, a Sydney-based health tech startup, has successfully raised $112 million (AUD 179 million) in a Series C funding round, bringing its total funding to $240 million 1

1

. The investment was co-led by Aware Super, ECP Asset Management, and Horizons Ventures, with participation from new and returning investors 1

1

2

2

.

AI-Powered Medical Diagnostic Tools

Harrison.ai specializes in developing AI-enabled medical diagnostic software and services, focusing on two main products:

1. Annalise.ai: A radiology-focused tool that analyzes CT scans and X-rays.
2. Franklin.ai: A pathology-focused offering that examines tissue biopsies 1

   1

   .

These AI tools aim to assist clinicians in diagnosing medical conditions more accurately and efficiently, potentially leading to earlier detection of diseases like cancer and faster treatment decisions 1

1

.

Impressive Capabilities and Market Presence

Annalise.ai, which began monetization in 2022, has shown remarkable growth:

• It is operational in over 1,000 healthcare facilities across 15 countries.
• The software supports the treatment of more than 6 million patients annually.
• Harrison.ai has tripled its contracted annual recurring revenue for three consecutive years 1

  1

  .

The company's AI solutions have obtained regulatory clearance for clinical use in 40 countries, including 12 FDA clearances in the United States 1

1

.

Advanced AI Models and Competitive Edge

Harrison.ai claims to have set itself apart from competitors with its advanced capabilities:

• The Chest X-ray product can detect up to 124 findings, approximately four times more than rival offerings.
• The CT Brain product is cleared for detecting up to 130 findings, also about four times greater than competitors 1

  1

  .

These achievements are attributed to the company's access to extensive datasets refined by over 250 specialist doctors across more than 240,000 hours 1

1

.

Global Expansion and Future Plans

With the new funding, Harrison.ai plans to:

1. Scale its international reach in key markets, including the U.S., EMEA, and Asia Pacific.
2. Establish a North American presence in Boston this year.
3. Further develop AI automation across additional diagnostic tests beyond radiology and pathology 1

   1

   2

   2

   .

The company, now employing approximately 200 people, operates in various countries, including the UK, US, Italy, Germany, Spain, UAE, New Zealand, Singapore, India, Malaysia, and Vietnam 1

1

.

Addressing Healthcare Challenges

Harrison.ai's technology aims to address critical issues in the healthcare sector:

• The global shortage of skilled clinicians.
• Increasing demand for diagnoses in both developed and under-developed healthcare systems.
• Capacity constraints in diagnosis and treatment that can lead to poor patient outcomes 1

  1

  .

Innovative AI Research

In 2024, Harrison.ai launched Harrison.rad.1, a radiology-specific vision-language model capable of answering open-ended visual questions about radiology images, detecting findings, and providing descriptions. While not commercially available, this model is accessible to researchers, industry partners, and regulators, and reportedly outperforms other foundational models and standard human radiologist examinations 1

1

.

As Harrison.ai continues to expand its reach and capabilities, it stands poised to make a significant impact on the global healthcare landscape, potentially improving diagnostic accuracy and patient care through innovative AI-powered solutions.