Proscia has announced a $23M Series B investment, led by Scale Venture Partners with participation from Hitachi Ventures and existing investors. This brings our total funding to $35M, and comes on the heels of an exciting year of growth, in the context of a huge market transformation accelerated by new tailwinds. We are thrilled to have these partners in our journey to change the way the world practices pathology.
2020 has been a challenging year for many. In an effort to fight a new enemy, we’ve seen the spotlight placed on diagnostics, biopharma, and the frontline workers in healthcare that make big sacrifices everyday. And in the process, healthcare infrastructure was built from scratch, we learned a new way to work, and a successful vaccine was developed in record time. While the fight is far from over, the best of science, technology, and collaboration has been on display. I hope the silver linings of 2020 are a harbinger for the balance of this decade, and that this year sets the stage to achieve in 9 years what would otherwise take 20.
Against this backdrop, pathology is in the first inning of a huge transformation. The penetration of imaging across research and diagnostics is rewiring a century-old, brick and mortar field based today on glass and microscopes. As a final frontier of digitization, now more than ever, this transformation is crucial.
We started Proscia with humble origins and a big vision – an idea to accelerate pathology’s shift to digital and help the world use data to rethink how we treat and diagnose diseases like cancer. This Series B is both testament to and an accelerant of the realization of that vision, supporting a growing operation focused on bringing pathologists and scientists the software they deserve.
Today, our customers are doing amazing things with our software, and we’ve had the chance to impact pathology to a greater extent than I could have imagined when we started. Concentriq, our flagship digital pathology platform, is used by nearly 5,000 pathologists and scientists, 10 of the top 20 biopharma companies, and many of the highest-volume diagnostic labs in the world. We’ve garnered regulatory clearances, teamed up with amazing partners, and shipped big product improvements that have set new bars for what’s possible with pathology.
With this capital, we’re doubling-down our commitment to the foundations that customers love about our software, and investing in areas that help more labs transform their operation with Concentriq. In scaling our operation across commercial, product, regulatory, and data, we’ll be able to help more life sciences organizations accelerate discovery, allow more diagnostic labs to expand and streamline their operations, and deliver new computational applications and data capabilities to make pathology’s data-driven future possible today.
38 Proscians and Counting
We never thought changing pathology would be easy, and we have so much to do. We need dreamers and doers to help us achieve an ambitious goal, and plan to double to triple our team in the next few quarters, with roles across the board – customer success, product, platform engineering, machine learning, regulatory, design, sales, marketing, and operations. Pathology’s data-driven future is just beginning, and I invite you to come join us in writing its next chapter.