Proscia, a leading provider of digital pathology software, has recently secured $46 million in Series C funding to drive the mainstream adoption of AI-driven pathology. This funding extension comes after Proscia received FDA clearance for its software platform, allowing the company to expand its reach in the U.S. diagnostic market.
The Series C extension was led by Highline Capital Management and Triangle Peak Partners, with participation from existing investors including Alpha Intelligence Capital, Scale Venture Partners, and Hitachi Ventures. The additional funds will be used to accelerate Proscia’s commercial growth and further develop its AI-powered applications for life sciences and diagnostic laboratories.
Proscia’s software platform is already being utilized by 14 of the top 20 pharmaceutical companies to drive drug discovery and development by leveraging vast amounts of pathology image data. With the FDA clearance, Proscia can now bring its digital pathology solutions to diagnostic labs, addressing the challenges posed by a global pathologist shortage and rising cancer rates.
David West, cofounder and CEO of Proscia, expressed excitement about the regulatory clearance, stating that it allows them to sell their diagnostic products into the U.S. market at a crucial time. The funding will enable Proscia to accelerate its mission of revolutionizing disease diagnosis and treatment through the power of digital pathology data and AI.
Pathology data is known to be infrastructure-intensive, requiring large-scale processing capabilities. Proscia has worked with cloud providers like AWS and Azure to ensure scalability across the enterprise. This open platform approach allows Proscia, its partners, and its customers to develop and deploy AI applications targeting specific diseases and use cases.
As digital pathology adoption continues to increase, expected to reach 100% in the next 5-7 years, Proscia is well-positioned to lead the transformation. The company’s AI applications automate tasks such as quality control and tumor identification, allowing pathologists to work more efficiently and focus on higher-level analysis.
Despite the challenges faced by the pathology field, Proscia believes that it deserves great software. With its latest funding and FDA clearance, Proscia is ready to usher in a new era of data-driven, AI-powered pathology that can ultimately improve patient outcomes. As the convergence of digital pathology and AI accelerates, Proscia’s open platform approach and enterprise-scale solutions make it a company to watch in the rapidly evolving healthcare technology landscape.
In conclusion, Proscia’s recent funding and FDA clearance position the company as a leader in the digital pathology space. With its AI-driven applications and open platform approach, Proscia is poised to transform the way diseases like cancer are diagnosed and treated. By leveraging the power of digital pathology data and AI, Proscia aims to improve patient outcomes and address the challenges faced by the pathology field.