San Francisco, CA – November 20, 2024
New Lantern, a San Francisco-based innovator in medical AI technology, has announced the launch of its AI Radiology Resident, supported by a $19 million Series A funding round led by Benchmark. This brings the company’s total funding to over $23 million. Benchmark General Partner Eric Vishria has joined the board, alongside other investors including Afore Capital, Anthology Fund, Neo, and SV Angel.
Transforming Radiology with AI
Radiologists often spend up to eight hours per shift on manual tasks like drawing measurements, dictating reports, and managing follow-ups. New Lantern’s cloud-native platform automates 25% of radiology workflows today, with the goal of reaching 90% automation. This allows radiologists to focus on image analysis, improving care efficiency and boosting earnings tied to exam volume.
“Legacy PACS and reporting systems are riddled with inefficiencies,” said New Lantern CEO and Founder Shiva Suri. “Our AI Radiology Resident transforms how radiologists work, saving hours and enhancing focus on critical tasks. Partnering with Eric Vishria and Benchmark positions us to scale these innovations globally.”
A Strategic Approach to AI in Radiology
Benchmark’s Eric Vishria emphasized the significance of New Lantern’s approach. “Shiva recognized that AI’s strength lies not in replacing radiologists but in eliminating the repetitive tasks that consume their time. This strategy enables radiologists to excel at their core function: reading scans.”
Funding to Drive Growth
The newly raised capital will support ongoing R&D, expand the engineering and sales teams, and scale the AI-powered radiology suite. New Lantern aims to empower radiologists with tools that double efficiency and income by automating tedious workflows like 3D measurements and report generation.
About New Lantern
Founded in 2021, New Lantern has developed the first complete AI radiology suite, automating imaging and reporting processes to improve radiologists’ productivity and patient care outcomes. Backed by a strong network of investors, including Benchmark and SV Angel, New Lantern is at the forefront of cloud-native AI solutions for the medical field. For more information, visit newlantern.ai.
