Hexarad Raises Additional £2.2M in Series A Funding


Hexarad, a London, UK-based radiology technology startup, completed its Series A funding round with an additional raise of £2.2 million.

This was in addition to £2.3m Hexarad raised in 2021, bringing the full raise to £4.5m. The round was led by Foresight Group, who also invested in 2021, with additional participation from angel investors including healthcare leaders Sachin Agrawal based in the US and Henry Carleton based in the UK.

The company intends to use the funds to continue to grow its radiology platform and support more NHS and private healthcare customers, adding deeper capability and specialisation to its reporter network and further improving the technology which is core to its customer and radiologist experience

Founded in 2016 by a group of NHS consultant radiologists and led by Dr Farzana Rahman, CEO, Hexarad is an early stage, high growth healthcare technology company, providing technology-driven solutions to boost radiology capacity and address the key causes of diagnostic delays. A key element of the platform is their workflow management software tool, Optirad, which streamlines radiology departments and reduces scan reporting delays. Optirad works by analysing and then deploying a radiology department’s workforce in the most efficient way. It can work across multiple different sites, assigning specialist reporting to the most appropriate radiologist. It also has rota management, intelligent allocations, business intelligence and intelligent supply and demand forecasting features.