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PocketHealth Secures $45M in Series B Funding: A Leap Forward in Medical Image Exchange

March 26, 2024

 

At its inception eight years ago, PocketHealth set a goal to build an easier way for patients and healthcare providers to access and share diagnostic images. Today, the Toronto-based start-up’s software not only gives over 1.5 million people at over 600 hospitals and imaging centres across North America control over their medical images, but it also helps those patients make sense of those images using artificial intelligence.


PocketHealth allows patients to securely access, store, and analyze their own medical image records, including X-rays, ultrasounds, CT scans, and MRIs, and share them with healthcare providers. Rishi Nayyar, co-founder and CEO says, “medical imaging is the spark to nearly every patient journey, yet manual and legacy image sharing systems deemphasize patient access to their own data, generating unnecessary costs, and delaying patient care”.


With $45 million in fresh series B funding, PocketHealth’s plan remains the same: to continue investing in AI, product development, and expanding its footprint across Canada and the US. To support these efforts, the start-up plans to double the size of its 110-person workforce in the next two years.


Over its eight-year journey, PocketHealth has secured contracts with major health systems and outpatient imaging groups across North America including University Health Network, Southern Illinois Healthcare, UofL Health, Universal Health Services, Radiology Partners, and more. With this funding now complete, the company has raised over $75 million in equity to date.


*All references to “$” in this blog are to Canadian dollars.


Author: Zach Gordon, 2023/2024 Articling Student

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