Proscia, a startup leveraging technology to help diagnose cancer, has raised an $8.3 million Series A round led by Flybridge Capital Partners. Fusion Fund, Emerald Development Managers, Razor’s Edge Ventures and Robin Hood Ventures also participated. The money will go toward expanding Proscia’s digital pathology software and developing new AI-enabled workflows that target certain cancers. Additionally, the company will utilize the $8.3 million to increase sales and marketing of its existing platform. Based in Philadelphia, Pennsylvania, the startup relies on the image analysis of machines to augment how pathologists diagnose cancer. Rather than simply relying on a microscope, pathologists can utilize Proscia’s AI-powered methods to assess tumors. The company offers a cloud-based digital pathology platform that allows organizations to improve diagnostic efficiency. Its clients include Thomas Jefferson University Hospitals, Henry Ford Health System and Johns Hopkins Department of Pathology, among others. “Digital pathology and artificial intelligence are unlocking new possibilities for pathologists in the fight against cancer,” Proscia co-founder and CEO David West said in a statement. “Pathology has been historically underserved by technology, and we believe that powerful software tools will push the boundaries of how modern pathology is practiced.” The Philadelphia startup is also planning to release a series of AI-powered modules for specific diseases. The first one, called DermAI, will be unveiled in December of this year. Back in 2016, Proscia secured $1 million in a seed round led by Emerald Development Managers. Robin Hood Ventures, A-Level Capital and TCP Venture Capital also took part. At the time, the company said it planned to use the funding to accelerate growth and unlock new insights into better understanding and treating cancer. In an interview, West added that the money would help Proscia add staff across the software development, sales and marketing departments. West co-founded the startup with Coleman Stavish (who serves as CTO), Nathan Buchbinder (who serves as chief product officer) and Hunter Jackson in 2014. Correction: This article previously incorrectly stated Proscia’s headquarters is in Baltimore, while it is actually in Philadelphia. Photo: CaptureTheWorld, Getty Images
Philadelphia - based cancer diagnostics start - up Proscia has raised $ 8.3 m in a Series A funding round led by Flybridge Capital Partners . The money will be used to grow the company 's cloud - based digital diagnostic software , which used machine - learning AI to help pathologists identify tumours , as well as increasing marketing for its current platform . The latest news comes after $ 1 m in seed funding was raised by Proscia in 2016 .