Sydney-based healthtech startup Harrison.ai has developed AI-driven diagnostic software to assist radiologists and medical examiners in analyzing CT scans, X-rays, and pathology slides. On Tuesday, the company announced it had secured $112 million (approximately AU$179 million) in a Series C funding round to expand its global presence across key markets, including the U.S., EMEA, and Asia Pacific. The healthtech startup declined to disclose its 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. Returning investors, including Alpha JWC Ventures and Blackbird Ventures, also contributed.
Harrison.ai offers two primary AI-powered solutions: Annalise.ai, which focuses on radiology diagnostics, and Franklin.ai, a pathology-centered platform. These tools aim to enhance diagnostic accuracy, facilitate early disease detection, speed up treatment decisions, and reduce patient wait times.
“Radiology (X-rays, CT scans) and pathology (tissue biopsies) serve as critical diagnostic tools for confirming medical diagnoses,” Dr. Aengus Tran, Harrison.ai’s CEO and co-founder, said. “[Harrison’s] solutions also act as a second pair of eyes for radiologists and pathologists, enhancing workflow efficiency while reducing misdiagnosis risks for cancer and other critical illnesses –ultimately improving patient outcomes.”
Harrison.ai aims to tackle the global shortage of skilled healthcare professionals and meet the rising demand for medical diagnoses, a challenge affecting advanced and developing healthcare systems.
Brothers Dr. Aengus Tran and Dimitry Tran founded the Sydney-based startup in 2018, drawing inspiration from Aengus’s firsthand experience with diagnostic and treatment limitations that often resulted in poor patient outcomes. Originally from Vietnam, the Tran brothers moved to Australia, where they combined their expertise—Aengus’s medical and AI knowledge and Dimitry’s background in healthcare strategy—to establish Harrison.ai. Their mission is to enhance healthcare capacity through AI-driven automation, improving efficiency and accessibility in medical diagnostics.
Harrison.ai’s latest funding round raises its total capital to $240 million, following its previous Series B round of approximately $92.3 million in November 2021.
Since its Series B, the healthtech firm Harrison.ai has launched Franklin.ai for pathology and is developing a prostate biopsy product set for 2025. Annalise.ai, its radiology AI, began generating revenue in 2022 and has tripled annual recurring revenue for three years. Now deployed in 1,000+ facilities, it supports over 6 million patients annually.
With 200 employees, Harrison.ai operates in 15 countries, including the U.K., the U.S., and Germany. It holds regulatory clearance in 40 countries, including 12 FDA approvals, and plans to establish a North American base in Boston this year.
“We have a typical software revenue model — similar to many SaaS companies — making it simple for our customers to buy and deploy for use in clinical practice,” said Harrison.ai’s CEO.
Harrison.ai faces competition from companies like Aidoc, Gleamer, Rad AI, and Zebra, but co-founder Aengus Tran believes it stands out due to its advanced capabilities. Its Chest X-ray AI, approved in 40 countries, detects up to 124 findings—around four times more than competitors.
Research from Alfred Health (2024) suggests Harrison.ai’s chest radiography AI could detect lung cancer 16 months earlier in over 32% of cases. Additionally, its CT Brain AI, also cleared for clinical use, identifies up to 130 findings—again, four times more than rivals.
“This is made possible through our access to extensive datasets, which have been fine-tuned by more than 250 specialist doctors over more than 240,000 hours,” he said, adding that the startup will be using some of the new funding to build out even more AI automation across more diagnostic tests other than radiology and pathology.
In 2023, Harrison.ai introduced Harrisons.rad.1, a radiology-specific vision-language model that analyzes images, detects findings, and answers visual queries. While not commercially available, it is accessible to researchers, industry partners, and regulators. The company claims it outperforms foundational AI models and standard radiology exams by human radiologists.
