The San Francisco-based startup New Lantern has raised $19 million in a Series A round led by Benchmark, bringing its funding to more than $23 million. With its AI-driven platform, New Lantern intends to revolutionize radiology by automating the mundane and leaving radiologists free to perform critical diagnostics.
Streamlining Radiology Workflows with AI
New Lantern’s platform uses AI to solve radiology waste by automating the tedious processes of 3D measurement and report writing. This solution solves a problem radiologists often have: they spend too much time doing administrative work rather than analysis.
The platform integrates core components such as Picture Archiving and Communication Systems (PACS) and reporting applications into a single, cloud-based platform. This collaboration removes the need for radiologists to switch between systems, resulting in greatly improved efficiency and convenience.
A Vision Inspired by Real-World Challenges
The founders of New Lantern were driven by CEO Shiva Suri’s own experience of seeing his mother, a radiologist, frustrated by cumbersome workflows. ‘I watched her waste hours on tedious work, with no room for the critical thinking that she does at her day job,’ Suri said.
That realization inspired Suri to create a platform that allows radiologists to stick to what they do best. New Lantern’s AI isn’t meant to supplant human radiologists, but to complement them by making the mundane more efficient.
Investor Confidence in New Lantern
Benchmark, a firm that invests in disruptive startups, oversaw the round excited by New Lantern’s promise. Eric Vishria, General Partner at Benchmark, emphasised the platform’s pragmatic design: ‘Instead of attempting to replace radiologists, New Lantern strives to ease the burden and leave physicians to do what they do best — read scans.
This investment will allow New Lantern to grow its platform, further develop its AI, and expand its reach to more radiology facilities around the world.
Delivering Tangible Benefits to Radiologists
New Lantern’s innovative platform offers significant benefits, including:
- Increased Efficiency: Radiologists using New Lantern’s software can complete up to twice as many cases in the same time frame.
- Cloud-Native Access: Unlike legacy PACS systems, New Lantern provides secure, anytime-anywhere access for medical professionals.
- Simplified Workflows: By integrating multiple tools into one platform, the software reduces complexity and boosts productivity.
Aiming for the Next Big Evolution in Radiology
New Lantern imagines its platform as the biggest leap forward in radiology since the switch from film to PACS 25 years ago. “We want to reengineer radiologists by automating, learning, and enhancing the way they do things,” Suri added.
Although they are still secretive about their clients, early users of New Lantern’s platform have had good results. With technology at the forefront and robust financing, New Lantern is poised to pioneer a new phase of radiology innovation.
Looking Ahead
The focus New Lantern has on helping radiologists optimize their workflows with AI-powered automation reflects an industry shift. By addressing inefficiencies and giving radiologists the tools to go full-bore, the company stands to revolutionise medical imaging.
For more on New Lantern and its AI-powered platform, check out their website at New Lantern.