The story behind the investment in AIDOC 

  • By TLV Partners
  • 27 Apr, 2017

TLV Partners believes that Artificial Intelligence is quickly making its way into the realm of modern healthcare, presenting an exceptional opportunity for startups. AI systems that use deep learning will change the healthcare industry in an unprecedented way. aidoc has achieved a major breakthrough in deep learning applications for the CT/MRI image processing market.                                                                                                                                                                                                                                           

After a half-decade of quiet advancments in artificial intelligence (AI), 2016 was a turning point in AI. Computers are now smarter and learning faster than ever. The timing of this progress is no coincidence, rather it comes as a result of several coinciding market factors.

Take image recognition for example. Recent advancements in this field can be traced back to a team of University of Toronto researchers, who won the world’s top image-recognition competition in 2012. That team was eventually recruited by Google, and its approach, which relied on a technique called deep learning (a subset of AI), was quickly adopted by the company. In a short period of time image recognition systems based on deep learning have become much more accurate; test error rates are down to about 5%, roughly on par with a human’s performance.

Another major milestone in AI was the open sourcing of deep learning frameworks. Take Tensorflow by Google for example. Tensorflow is a deep learning framework used to build and train neural networks. It has quickly become the most commonly used framework for developing deep learning applications, and democratized deep learning technology for engineers around the globe. The below graph indicates the size of the Tensorflow community in comparison to other popular deep learning frameworks.
Powering the above advancements is cloud computing infrastructure. Deep learning techniques require a tremendous amount of compute resources which can weigh a heavy toll on startups and enterprises alike. The past decade has seen computational resources quickly become more powerful and affordable, with the ability to process complex information,enabling even the smallest of teams to build robust applications.


The final piece of the puzzle is the widespread availability of large digital datasets. The amount of available digital data is growing rapidly, doubling approximately every two years. This, paired with new and affordable software tools to manage data is enabling developers to train their neural networks effectively and at scale.
The above four factors, advancements in AI by leading technology companies, the open sourcing of AI technology, the decrease in the price of compute power and the availability of digital data has set the scene for significant innovation through AI across several traditional industries. One such industry that could greatly benefit from the above advancements is the healthcare industry.

As Healthcare information becomes more accessible and cloud services are adopted by the healthcare market, levels of interoperability and collaboration are seeing the rise of services that were once unimaginable.

Within this context, we were thrilled to meet three brilliant entrepreneurs, Elad, Guy and Michael, with extensive experience in deep learning who chose to tackle a major pain in the medical imaging AI market. To date, Aidoc has already developed several significant breakthroughs in AI technology that serve as the backbone of their unique product.
Image processing in healthcare grabbed our attention a while ago for two main reasons:
Firstly, the amount of digital data is growing exponentially as CT and MRI scans become common practice within the diagnostic process.
Secondly, as the number of scans dramatically increase, the growth in the number of radiologists available to analyze these scans has not kept pace. Evidence of this can be seen as far back as 1998 when the American College of Radiology (ACR), the largest placement service in diagnostic radiology, documented 1.3 job listings per job seeker and just two years later, witnessed the ratio grow to 3.8 listings per job seeker, an almost a 200% increase. Spurred by the need to operate more efficiently and productively, we believe that medical imaging facilities will increasingly turn to AI for help, and will actively seek out technologies to help automate their workflow.

Another challenge we came across while researching this market, is the healthcare industry's general sensitivity to the adoption and implementation of new software systems. Although many segments could potentially use AI as way to enhance their processes only a few are currently structured enough to enjoy it; CT and MRI image processing is one of them.
During the due diligence process with aidoc, we were not only impressed by the high quality of the team but also with the company’s solution that is designed to seamlessly integrate within the radiologists’ workflow. By the end of the process and after talking to numerous radiologists who tested the solution, we were convinced aidoc has a real potential to lead this market.
Last but not least, we were captivated by the founders, all of whom are exceedingly intelligent, humble and hard workers. They have a collaborative and transparent approach which is exactly what we are looking for in our entrepreneurs. For us, every investment is the beginning of a journey with unexpected turns and obstacles, one that we would never set out to without feeling fully confident in our partners.


We are excited to announce our new investment in aidoc! We wish Elad, Michael, Guy and Gal good luck!

News

By TLV Partners 04 Dec, 2017
November 27, 2017
By TLV Partners 04 Dec, 2017

Published by Globes [online], Israel business news - www.globes-online.com - on September 19, 2017

By TLV Partners 04 Dec, 2017
By TLV Partners 05 Jun, 2017
By Eitan Bek
By TLV Partners 25 May, 2017

Cloud computing is an area we find especially exciting. It has brought enormous change to the world of applications and it would be no exaggeration to say that most of the innovation in IT over the past decade has been enabled, catalyzed, or caused by cloud computing. Currently, we are in the midst of a microservices revolution, one that has, until now, been championed by containers. Through our investment in Aqua Security over a year ago, we have witnessed first hand the rapid growth this market is experiencing, and believe it will continue to proliferate enterprises across the globe.  We are now on the cusp of another revolution in cloud infrastructure: the move to serverless computing.


By TLV Partners 27 Apr, 2017
After a half-decade of quiet advancments in artificial intelligence (AI), 2016 was a turning point in AI. Computers are now smarter and learning faster than ever. The timing of this progress is no coincidence, rather it comes as a result of several coinciding market factors.

Take image recognition for example. Recent advancements in this field can be traced back to a team of University of Toronto researchers, who won the world’s top image-recognition competition in 2012. That team was eventually recruited by Google, and its approach, which relied on a technique called deep learning (a subset of AI), was quickly adopted by the company. In a short period of time image recognition systems based on deep learning have become much more accurate; test error rates are down to about 5%, roughly on par with a human’s performance.

By TLV Partners 13 Dec, 2015
By Eitan Bek and Roy Leiser
By TLV Partners 04 Dec, 2015
They will be joined in the round by hi-tech entrepreneurs Michael Fey, President and COO of Blue Coat Security; Giora Yaron former Chairman of Mercury and Boaz Chalamish, former SVP and GM of VMWare.

Scalock was founded in 2015 and has 10 employees. The company develops SaaS security solutions for virtual containers (e.g. Docker). Scalock’s product provides protection and security against internal and external threats to container-based applications and micro-services, and a complete access control mechanism to monitor and enforce security for virtual containers in run-time. The company plans to use the funds raised to establish its presence in the US.

Dror Davidoff and Amir Jerbi the founders of Scalock, are both seasoned Entrepreneurs with an extensive background in the hi-tech industry. Davidoff was the CRO at Clicktale, and EVP of Sales at Sentrigo and Cyvida. Amir was principal software architect at CA Technologies and led the development of virtualization technologies and cloud environments for CA’s ControlMinder product line.

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