Participated · Series C · Jun 2022

Proscia provides an enterprise pathology platform, Concentriq, plus a precision medicine AI portfolio and real-world data to accelerate development and use of therapies and diagnostics. The company’s products are used daily by pharmaceutical companies and a global network of diagnostic laboratories. Proscia holds FDA 510(k) clearance and CE‑IVDR certification for its diagnostic software. Led by CEO David West, the company focuses on enabling AI to advance precision medicine and tackle diseases such as cancer. Proscia recently raised $50M, bringing its total funding to $130M, and intends to use the proceeds to grow its customer footprint and advance Concentriq’s AI capabilities. Proscia develops a digital pathology software platform and AI applications that automate tasks such as quality control and tumor identification. Its open platform enables partners, customers, and developers to build and deploy disease-specific AI tools, and the company works with cloud providers like AWS and Azure to scale enterprise deployments. The platform is used by 14 of the top 20 pharmaceutical companies to leverage pathology image data for drug discovery and development. Proscia recently received FDA clearance for its software, which allows it to expand into the U.S. diagnostic market. The company raised a $9 million extension to its Series C, bringing the round to $46 million, and plans to use the funds to accelerate commercial growth and further develop its AI-powered applications. Proscia positions itself to address a global pathologist shortage and rising cancer rates as digital pathology adoption accelerates toward widespread use in the next 5–7 years. Proscia provides the Concentriq® platform, which combines enterprise scalability with a broad portfolio of AI applications for digital and computational pathology. Led by CEO David West and based in Philadelphia, the company serves customers including 10 of the top 20 pharmaceutical companies and the Joint Pathology Center, which selected Concentriq to digitize a tissue repository of over 55 million slides. Proscia raised $37M in a Series C to accelerate adoption of computational pathology and strengthen its market and product leadership. The company plans to use the funds to scale commercial operations and expand its sales, marketing, and support teams. Proscia also intends to grow distribution partnerships following a recent OEM agreement with Siemens Healthineers. These investments are aimed at expanding its AI-driven pathology offerings and commercial footprint. Proscia offers the Concentriq digital pathology platform combined with AI-powered applications to digitize high-resolution tissue biopsy images and unlock new insights for laboratories, health systems, and life sciences companies. The company plans to expand its AI application portfolio (building on its DermAI application), grow its data assets, and accelerate commercial expansion by ramping up global sales, marketing, and support teams. Proscia will also advance its regulatory strategy to pursue FDA clearance, building on its existing CE Mark and MDSAP certification. Since closing a Series A in 2018, Proscia has amassed customers including Johns Hopkins School of Medicine, the Joint Pathology Center, and 10 of the top 20 pharmaceutical companies. JPC selected Concentriq to digitize the world’s largest human tissue repository of over 55 million slides. The company positions its software and AI to transform pathology’s historically analog workflows into data-driven diagnostics to improve patient outcomes and accelerate biomedical research. Proscia offers a cloud-based, modular digital pathology platform used by thousands of pathologists, scientists, histotechnicians, and lab managers at more than 300 clinical and research facilities worldwide. The platform integrates with labs' existing environments and technology ecosystems to enable digital adoption, streamline image-based workflows, and open imaging and analytics revenue streams. Proscia is building AI-enabled, disease-specific modules that sit atop its platform to augment pathologists' evaluations and improve diagnostic efficiency and quality. The company plans to commercialize new clinical AI workflows targeting high-volume, high-impact cancers, with its first module, DermAI™, scheduled for release in December 2018. Proscia positions these technologies to increase access to care, reduce turnaround times and costs, and unlock data from tissue to advance cancer research and diagnosis. The company was founded by a team from Johns Hopkins and the University of Pittsburgh to improve clinical outcomes in the fight against cancer.