With an $8.3 million Series A round in the warchest, Center City-based medical software company Proscia looks to triple in size and bring to market its artificial intelligence software for digital pathologists.
The round was led by Boston VC firm Flybridge Capital Partners, with participation from Emerald Development Managers, Fusion Fund, Razor’s Edge Ventures and Philly’s RobinHood Ventures.
The company’s tech gives pathologists insights to improve the accuracy of diagnostics. Some 300 clinical and research facilities are now using the software. Under development are specific AI-enabled, disease-specific modules that help automate insights, the first of which is expected to hit the market by December.
Founded by David West Jr. and Coleman Stavish, in April the company relocated to Philly from Baltimore, where Stavish and West attended Johns Hopkins University. Currently a team of 20 full-timers mostly out of MakeOffices, the company hopes to triple in size.
West Jr., CEO of Proscia, said the funds will let the startup tackle key areas.
“[The funding] will allow us to expand the adoption of digital pathology, while creating intelligent systems that will unlock data from tissue to greatly enhance pathologists’ productivity, increase access to care, and improve the way cancer is researched, diagnosed, and ultimately treated,” West said in a press release.
“The market is moving quickly and we had a lot of appetite,” West Jr. said.-30-
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