Avandra Imaging raises $17 million to revolutionize use of real-world medical data
Avandra Imaging, a Cleveland-area startup, has raised $17.75 million to develop the world's largest federated network for de-identified medical imaging and clinical data. This initiative aims to enhance medical research and patient care by providing secure, anonymized access to vast imaging datasets.
Avandra Imaging was founded by CEO Ryan Tarzy in partnership with Aegis Ventures, a venture studio focused on HealthTech innovation. Originally based in California, the company has relocated to Brecksville, where it is growing its network of health system partners to advance AI-driven medical imaging solutions.
The Big Picture
Medical imaging data is often siloed within Picture Archiving and Communication Systems (PACS), limiting its potential for research and innovation. Avandra seeks to unlock this data, facilitating collaborations among biopharma companies, researchers, healthcare providers, and AI developers. By organizing and indexing over 1 trillion images, Avandra aspires to accelerate medical breakthroughs and improve patient outcomes.
Avandra Imaging’s $17.75 million funding round is backed by a diverse group of investors, including Aegis Ventures and SpringRock Ventures, which co-led the round. Additional investors include MemorialCare Innovation Fund, McKesson Ventures, Biotia, and other strategic healthcare and technology partners. The funding will help Avandra expand its federated network for de-identified medical imaging data, enhancing AI-driven healthcare solutions and research collaborations.
By the Numbers
$17.75 million raised in the latest funding round.
1 trillion+ medical images targeted for indexing and availability.
90% of imaging data research requests currently go unfulfilled due to access challenges.
What They’re Saying
Ryan Tarzy, CEO of Avandra: "Access to vast amounts of medical imaging linked to longitudinal data provides the last mile of medical AI and will enable countless medical breakthroughs."
Murray Brozinsky, Executive Chair of Avandra's Board: "We have very high conviction about the ability of real-world data to dramatically improve treatments, care plans, and equitable access for patients."
What’s Next
Avandra plans to utilize the funds to enhance its platform, expand partnerships with leading health systems, and scale commercial initiatives with biopharma and medical researchers. A strategic collaboration with Datavant will integrate Avandra's network into a broader health data ecosystem, ensuring secure and efficient data exchange while maintaining patient privacy.
This development positions Avandra at the forefront of transforming medical imaging data accessibility, potentially leading to earlier diagnoses, innovative treatments, and improved patient care.