New Lantern, a San Francisco-based startup, launched an AI radiology resident and secured $19 million in Series A funding.
The funding round was led by Benchmark, with participation from Afore Capital, Anthology Fund, Neo, SV Angel, and several individual investors.
The startup's AI-powered platform is designed to enhance radiologists' efficiency by automating 25% of radiology workflows, with plans to eventually automate up to 90%. The technology aims to reduce the time radiologists spend on manual tasks like drawing measurements and dictating reports, allowing them to focus more on analyzing images. It not only speeds up patient care but also potentially doubles radiologists' earnings, which are linked to the volume of exams processed.
New Lantern, founded in 2021, is the first to offer a cloud-native AI radiology suite. With the new funding, the company plans to invest in further R&D and expand its team, particularly in engineering and sales.
Benchmark General Partner Eric Vishria, who has a history of successful investments, will join New Lantern's board.