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HOPPR Secures $31.5 Million in Series A Funding

HOPPR, a pioneering company in the field of artificial intelligence (AI) for medical imaging, has recently announced a successful Series A funding round, raising an impressive $31.5 million. This round, which was oversubscribed, was led by prominent investors Kivu and Greycroft and included participation from PSG Equity, Morningside Capital, Fortitude Ventures, and the existing investor Health 2047. With this influx of capital, HOPPR aims to solidify its position in the fast-evolving landscape of medical AI.

Accelerating Development and Innovation

The primary goal of this Series A funding is to expedite the development of HOPPR's platform and scale its operations. The company plans to enhance the capabilities of its foundation models, providing developers with unprecedented flexibility and precision when creating imaging AI applications. This strategic investment will allow HOPPR to expand its team, adding top-tier talent in engineering, AI, and compliance, which is essential for navigating the highly regulated healthcare sector.

Dr. Khan Siddiqui, the CEO and co-founder of HOPPR, stated, “We’re building the secure infrastructure that Picture Archiving and Communications Systems (PACS) vendors and developers need to fine-tune and deploy foundation models for real-world clinical use.” His vision emphasizes the democratization of access to high-performing, trustworthy imaging AI, highlighting HOPPR's commitment to improving diagnostic workflows that support radiologists and enhance patient care across the globe.

Addressing Key Challenges in AI Development

HOPPR's platform is designed to tackle a crucial challenge faced by medical AI developers—ensuring the fine-tuning and validation of models within a secure and compliant framework. Unlike existing marketplaces offering prebuilt AI applications, HOPPR empowers users to customize and enhance foundation models using their own datasets or those curated by HOPPR. This unique capability, underpinned by a quality management system, ensures secure development pipelines and trusted data provenance, streamlining the path from concept to clinical deployment.

Seth Berman, Co-founder and General Partner at Kivu Ventures remarked, “HOPPR has one of the most unique teams made up of the world's leading AI specialists, technologists, and radiologists who are specifically suited to solve the major challenges facing healthcare developers.” The support from Kivu Ventures underscores the confidence the investment community has in HOPPR's innovative approach to transforming medical imaging.

Bryan Subijano, an investor at Greycroft, expressed excitement about the potential of HOPPR’s platform, stating, “We are thrilled to partner with HOPPR as they enable customers to deploy state-of-the-art medical imaging AI into diagnostic workflows, ultimately improving patient outcomes in radiology.”

Transformational Potential in Healthcare

Larry K. Cohen, CEO at Health2047, emphasized the revolutionary nature of HOPPR's approach, stating, “Their platform enhances diagnostic accuracy and brings clinicians into direct dialogue with imaging studies—an approach that's truly first-of-its-kind.” The vision shared by HOPPR is transformative, and as they progress with their innovative platform, the potential to reshape how medical imaging is performed holds significant promise for both healthcare professionals and patients alike.

By creating a platform that not only simplifies AI model development but also ensures clinical readiness, HOPPR stands at the forefront of the intersection of AI and healthcare, ready to make a lasting impact that enhances diagnostic processes and improves patient outcomes on a global scale.

For more information about HOPPR and their advancements in medical imaging AI, visit www.hoppr.ai.