Proscia, a Philadelphia-based AI-enabled pathology startup has raised US$ 23 million in Series B funding led by Scale Venture Partners, with participation from Hitachi Ventures, the strategic corporate venture capital arm of Hitachi, Ltd held in November 2020. This round has brought the total funding to US$ 35 million.
The startup will use the funding to extend its AI application portfolio, boost commercial expansion, and advance its regulatory approach to obtain FDA approval.
With its Concentriq software platform, Proscia is stimulating the transformation to digital pathology, which concentrates around high-resolution images of tissue biopsies, as the new standard of care. Concentriq links enterprise scalability with powerful AI applications to help laboratories, health systems, and life sciences companies unlock new insights, accelerate breakthroughs, and enhance patient outcomes.
What Scale Venture Partners has to say
Alexander Niehenke, Partner at Scale Venture Partners said, “Digitization has swept through almost every domain of healthcare, and we are now seeing its revolutionary impact on pathology. Proscia is a high-growth company with a unique platform-plus-AI approach that is enabling it to capitalize on a multi-billion-dollar market opportunity. We’re excited to be a part of Proscia’s success as it expands its leadership position in pathology’s shift from analog to digital.”
What Proscia has to say
David West, CEO of Proscia said, “We are excited for this next milestone in our journey. Over the past few years, we have battle-tested Concentriq at leading organizations and demonstrated the unprecedented potential of AI. In welcoming Scale Venture Partners and Hitachi Ventures to the Proscia team, we are better positioned than ever before to drive a transformation that will impact millions of cancer patients and their families.”
About Proscia
Proscia is a software company that is transforming pathology to transform cancer research and diagnosis. It was founded by Coleman Stavish, David West and Kristina Li, Nathan Buchbinder. It is a team of technologists, scientists, and pathologists are bringing forth a fresh approach to an antiquated industry, supporting the industry to maintain pace with the increasing demand for pathology services and fulfil the promise of precision diagnostics.
About Scale Venture Partners
Scale Venture Partners is a venture capital investment firm that invests in software companies that are transforming the future of work. It was founded by Kate Mitchell and Rory O’Driscoll and headquartered in San Fransisco, CA. It has invested in companies like Box (BOX), Chef, Cloudhealth, DataStax, Demandbase, DocuSign (DOCU), ExactTarget (ET), HubSpot (HUBS), JFrog (FROG), Lever, and WalkMe.
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