Artificial intelligence is transforming healthcare, and Sydney-based startup Harrison.ai is leading the charge in AI-driven medical diagnostics. The company has just secured $112 million (AUD 179 million) in Series C funding to expand its global footprint across the U.S., EMEA, and Asia Pacific. However, the startup declined to disclose its current valuation.
The funding round was co-led by Aware Super, ECP Asset Management, and Horizons Ventures, with participation from new investors such as the National Reconstruction Fund, Ord Minnett, and Wollemi Capital Group, alongside existing backers Alpha JWC Ventures and Blackbird Ventures.
AI-Powered Tools for Faster, More Accurate Diagnoses:
Harrison.ai specializes in developing AI-enabled software for medical diagnostics, helping radiologists and pathologists analyze CT scans, X-rays, and pathology slides with greater speed and accuracy. The company’s two flagship products include:
- Annalise.ai – Focused on radiology, assisting doctors in detecting diseases from imaging scans.
- Franklin.ai – A pathology tool designed to help clinicians diagnose medical conditions more efficiently.
By providing AI-powered assistance, Harrison.ai aims to reduce patient wait times, improve diagnostic accuracy, and ease the workload of overburdened healthcare professionals.
‘A Second Pair of Eyes’ for Clinicians:
Co-founder and CEO Dr. Aengus Tran emphasized the importance of AI in modern healthcare, stating:
“Radiology and pathology are critical diagnostic tools, and our AI solutions serve as a second pair of eyes for specialists. By improving workflow efficiency and reducing the risk of misdiagnosis, we’re ultimately enhancing patient outcomes.”
With a growing global shortage of skilled clinicians and increasing demand for diagnostic services, Harrison.ai’s AI-driven tools are positioned to fill an essential gap in both developed and developing healthcare systems.
Rapid Growth and Global Expansion:
Founded in 2018 by brothers Aengus and Dimitry Tran, Harrison.ai has made significant strides since its Series B round in 2021, when it raised approximately $92.3 million.
Since then, the company has:
- Launched Franklin.ai, its pathology-focused AI solution.
- Developed an AI-powered prostate biopsy tool, expected to launch in 2025.
- Monetized Annalise.ai, which has tripled its annual recurring revenue for three consecutive years.
- Expanded to 15 countries, including the U.K., U.S., Germany, Spain, UAE, and India.
- Secured regulatory clearance in 40 countries, including 12 FDA approvals in the U.S.
With approximately 200 employees, the startup is now setting its sights on further expansion, planning to establish a North American presence in Boston later this year.
Standing Out in a Competitive Market:
The medical AI space is highly competitive, with players like Aidoc, Gleamer, Rad AI, and Zebra vying for dominance. However, Harrison.ai claims a major edge over its rivals.
- Its Chest X-ray AI has been cleared in 40 countries and can detect 124 findings—four times more than its closest competitors.
- Its CT Brain AI can identify 130 findings, again 4x the industry standard.
- A study conducted at Alfred Health in 2024 suggests Harrison’s AI can detect lung cancer 16 months earlier, potentially identifying 32% more cases ahead of time.
Additionally, Harrison.ai has leveraged an extensive dataset curated by 250 specialist doctors, fine-tuned over 240,000 hours, to ensure top-tier accuracy and reliability.
Pioneering AI in Medical Imaging:
In 2023, the startup unveiled Harrison.rad.1, a radiology-specific vision-language AI model capable of answering open-ended visual questions about medical images. While not yet commercially available, the model is accessible to researchers, industry partners, and regulators and has reportedly outperformed standard radiology exams conducted by human radiologists.
What’s Next?
With this latest funding, Harrison.ai plans to expand its AI automation beyond radiology and pathology, covering a broader range of diagnostic tests.
“Our goal is to make AI-driven diagnostics more accessible, scalable, and effective,” said Dr. Tran.
As AI continues to revolutionize healthcare, Harrison.ai is on track to become a global leader in medical imaging and diagnostics, helping clinicians detect diseases earlier, reduce diagnostic errors, and improve patient care worldwide.
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