What is Hexarad?
Founded in 2016 and headquartered in London, Hexarad operates at the intersection of teleradiology and business intelligence. The company provides an end-to-end platform that integrates ReportRad, a specialized teleradiology service, with OptiRad, a sophisticated workflow management tool. This dual-pronged approach allows healthcare providers to access a global network of subspecialist radiologists, significantly reducing turnaround times for complex scans such as CTs, MRIs, and X-rays. By incorporating AI-supported reporting and real-time communication, Hexarad addresses the systemic inefficiencies often found in radiology departments, effectively positioning itself as a critical partner for hospitals seeking to enhance diagnostic accuracy and operational throughput. The firm's focus on scalable, SaaS-based solutions has made it a standout entity in the competitive health-tech landscape.
How much funding has Hexarad raised?
Hexarad has raised a total of $59.2M across 2 funding rounds:
Series A
$45M
Other Financing Round
$14.2M
Series A (2022): $45M with participation from Foresight Group
Other Financing Round (2024): $14.2M led by Mtip and Foresight Group
Key Investors in Hexarad
Mtip
MTIP is a Swiss growth and buyout firm that specializes in acquiring and investing in profitable, high-growth healthcare software companies. The firm partners with founders and visionary management teams to scale businesses that drive innovation and create long-term value in the healthcare sector.
Foresight Group
Founded in 1984, Foresight Group is a leading independent infrastructure and private equity investment manager based in London, focusing on sustainable growth and long-term value creation.
What's next for Hexarad?
With this major enterprise-level funding, Hexarad is poised to scale its operations and deepen its market penetration. The strategic capital will likely be deployed to enhance its AI-driven diagnostic capabilities and expand its network of subspecialist radiologists to meet growing international demand. As the healthcare industry continues to prioritize digital transformation and resource optimization, Hexarad's integrated platform is uniquely positioned to capture further market share. Future growth will likely focus on strengthening its business intelligence offerings and potentially entering new geographic markets, ensuring that the company remains at the forefront of radiology innovation and clinical efficiency.
See full Hexarad company page
