Iterative Scopes, a Massachusetts-based healthtech startup specialising in the use of AI-driven critical health solutions, has raised US$ 150 million in a Series B investment round co-led by Insight Partners and Clearlake Capital Group on 19 January 2022.
Investors: The latest investment round featured Insight Partners and Clearlake Capital as the lead investors with participation from Breyer Capital, Obvious Ventures, Eli Lilly and Johnson & Johnson Innovation. The startup has managed to raise, in total, over US$ 193 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round to intensify the execution of state-of-the-art computational tech instruments developed to optimise patient gastroenterology care.
About Iterative Scopes
Brought to existence in 2017 by Jonathan Ng, Iterative Scopes envisages enhancing the medical trials conducted for treating inflammatory bowel disease. The firm’s proprietary computer vision and AI-driven tech are carefully structured to optimise colorectal cancer screenings by escalating the consistency and accuracy of endoscopy readings. Presently, the firm strives to standardise disease severity characterisation for inflammatory bowel disease and employs its cutting-edge tech to revolutionise polyp detection for colorectal cancer screenings. The firm seeks to develop significant endpoints of gastrointestinal diseases, which serve as improved estimators of disease outcomes and therapeutic responses.
What the Founder has to say: “The fresh capital arrives during the completion of a successful year and demonstrates the potential of our team, tactical collaborations and technology. The new investment round bolsters our vision to streamline patient outcomes by administering artificial intelligence, commencing with colorectal cancer and inflammatory bowel disease. The support and network of first-rate global investors including Clearlake Capital, Insight Partners and existing investors Eli Lilly, Obvious Ventures, JJDC will allow us to reach our goals and offer stimulus to deliver the new-age computational tech services.”- Jonathan Ng, Founder and CEO of Iterative Scopes.
What the Investor has to say: “It is exhilarating to financially support Jon and the rest of the Iterative Scopes’ team. We are proud to back a firm aiming to confront the prevailing problems in treating gastrointestinal diseases. The company has great potential to create a significant impact on medical outcomes in gastroenterology for the better of all parties, including payers, patients, providers and pharmaceutical firms.”- Paul Huber, Principal at Clearlake and Behdad Eghbali, Co-Founder and Managing Partner at Clearlake.
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