Ezra, an Innovator in Applying AI to MRI Scanning, Raises $21M to Increase Access to Care
Today, Ezra, the healthcare Artificial Intelligence (AI) company transforming MRI imaging and early cancer detection, announced that it has raised $21 million in new funding. The investment brings Ezra's total funding to $41 million, and will be used to accelerate the company's expansion to 20 cities and 50 locations across North America in 2024, as well as advance the use of its AI technology by leading imaging centers and clinicians. Ezra leverages FDA-cleared AI technology to reduce the time it takes to complete an MRI scan. By deploying its AIs at leading imaging centers, Ezra offers consumers the ability to access full-body MRI scanning at much more affordable pricing, and supports imaging centers in increasing throughput, efficiency, and affordability.
The round was co-led by Healthier Capital, a venture capital firm focused on applying innovative technology to healthcare and led by Amir Dan Rubin, former CEO of Amazon's One Medical. FirstMark Capital co-led the round, with participation from Allianz Life Ventures (the venture capital arm of Allianz Life Insurance Company of North America), the Schwarzman family, former Chairman of England's National Health Service (NHS) Lord David Prior, Gaingels, Republic, and Mana Ventures. Existing investors Credo Ventures, Seedcamp, LDV Capital, Accomplice, Founders Future, Vlad Tenev, Anne Wojcicki, and Esther Dyson also participated. Amir Dan Rubin will also join Ezra's Board of Directors.
"Five years ago, Ezra pioneered the full body MRI space by being the first company in the US to offer fast, accurate, affordable, AI-powered full body MRI scans. We have since scanned thousands of people and have helped countless individualsidentify cancer and over 500 other types of diseases early," said Emi Gal, Founder and CEO of Ezra. "This year, 10 million people will receive late-stage cancer diagnoses, with survival chances below 20%. At Ezra, we aim to detect cancer early for these 10 million people, improving their chance of getting cured. I'm thrilled to join forces with Healthier Capital and Amir Dan Rubin to further our goal of making cancer screening more affordable and accessible."
This new investment comes on the heels of an impactful year for Ezra. The company doubled its revenue in 2023, and received FDA clearance for Ezra Flash AI, enabling the launch of the world's first 30-minute full body MRI scan enhanced by AI. Ezra stands apart by leveraging proprietary AIs across all three key components of the cancer screening process: imaging, analysis, and reporting. These three AI innovations have enabled Ezra to reduce the price of an Ezra Full Body MRI scan by 40%, making the Ezra Full Body Flash one of the most affordable full body MRI scans on the market.
"At Healthier Capital we are excited to see how the Ezra team, led by Founder & CEO Emi Gal, is leveraging AI in imaging to significantly increase affordability, access and outcomes," said Amir Dan Rubin, CEO and Founding Managing Partner at Healthier Capital.
"As a long-standing board member and investor in Ezra, I have witnessed first-hand the remarkable progress and impact this company has made in the field of early cancer detection," said Rick Heitzmann, Co-founder & Partner at FirstMark Capital. "Ezra's recent advancements in AI-powered full body MRI scans represent a significant leap in making cancer screening more accessible and affordable, and I am incredibly proud to be part of this mission to detect cancer early for everyone."
Ezra will be using the new capital to expand across all major metro areas in the US, and continue building AIs to make full body MRI scans more affordable. The company is on track to introduce the world's first 15-minute full body MRI, priced at around $500, within two to three years. Ezra currently operates at 18 locations across New York, New Jersey, Los Angeles, Irvine, San Francisco, Miami, and Las Vegas.
For more information, visit https://ezra.com/.
Ezra is a New York-based healthcare AI company utilizing medical imaging and artificial intelligence to provide individuals with an innovative full body cancer screening service that is fast, accurate, and affordable. Founded in 2018 by Emi Gal, Ezra monitors for possible cancer and 500+ conditions in up to 13 organs, giving individuals the ability to detect potential cancer and other diseases at an earlier stage through preventative, proactive, and ongoing cancer screening via the company's Full Body MRI scan. By advocating for early cancer detection as part of annual health screenings, Ezra is on a mission to create a new standard of preventative care, providing people with the necessary knowledge to make decisions about their health.