Company targets 15-minute full body MRI scans for $500 ‘within two to three years.’
Healthcare AI firm Ezra has raised $21 million in new funding supporting its mission to revolutionize MRI imaging and early detection of more than 500 health conditions. The New York-based preventative health company has developed an AI-powered full body MRI scanning technology that monitors for potential cancer and many other conditions across 13 organs.
Founded in 2018, Ezra specializes in leveraging AI for MRI scans to expedite the imaging process, with the aim of reducing both the time and cost of scanning. The company has developed proprietary AIs to accelerate three key parts of the screening process: imaging, analysis and reporting.
By strategically deploying its technology at imaging centers across the US, Ezra aims to make full-body MRI scans more financially accessible to consumers. The company, which doubled its revenue in 2023, says it has already been able to reduce the price of its full body MRI scan by 40%.
While Ezra’s scanning packages currently start at $1,350, the company says it is on a trajectory to introduce the world’s first 15-minute full-body MRI scan, priced around $500, within the next two to three years.
“This year, 10 million people will receive late-stage cancer diagnoses, with survival chances below 20%,” said Emi Gal, CEO of Ezra. “At Ezra, we aim to detect cancer early for these 10 million people, improving their chance of getting cured.”
The funding round was co-led by FirstMark Capital and Healthier Capital, a venture capital firm helmed by former One Medical CEO Amir Dan Rubin, who joins Ezra’s Board of Directors.
Rubin expressed excitement at the way that Ezra is “leveraging AI in imaging to significantly increase affordability, access and outcomes.”
This brings the total funding raised by Ezra to $41 million, which will be used to support the company’s expansion to 20 cities and 50 locations across North America in 2024. Ezra currently operates in 18 locations spanning New York, New Jersey, Los Angeles, Irvine, San Francisco, Miami and Las Vegas.
The funds will also be allocated to advance the integration of Ezra’s FDA-cleared AI technology in collaboration with leading imaging centers and clinicians, and to continue to development of AIs aimed at further cost reduction.