PathologyWatch Raises $5M in Series A Funding to Speed Adoption of Digital Dermatopathology Solutions
Funding Led by SpringTide Investments and Rock Creek Capital
SALT LAKE CITY–(BUSINESS WIRE)–PathologyWatch announced today a $5M series A funding led by SpringTide Investments and Rock Creek Capital with additional funding by individual investors. PathologyWatch is emerging as the groundbreaking leader of intuitive, easy-to-implement digital dermatopathology solutions that can speed the diagnostic process while reducing costs to clinics and enhancing patient care.
PathologyWatch will utilize this series A funding to strengthen outreach to dermatology clinics nationwide. Over 12 months, it expects to triple its sales force while expanding marketing efforts and implementing a strong channel partner strategy. The funding also represents a continued investment in the development of technology and supervised artificial intelligence (AI) for various cancer lines.
PathologyWatch differentiates itself from competitors by offering fully interfaced EMR (Electronic Medical Records) reporting and 24/7 access to digital slides. Clients also have access to top dermatopathologists and the option to interpret and bill for their cases. PathologyWatch is further distinct by its primary focus on outpatient clinics.
Changing “How Pathology Operates by Transforming Biopsy Diagnostics”
“We believe PathologyWatch will change how pathology operates by transforming biopsy diagnostics,” said Austin Waters, principal at SpringTide Investments. “PathologyWatch has created a platform to digitize pathology workflows and is a leading developer of AI algorithms that detect and characterize cancers from biopsy samples. The quality and breadth of their solution, and their early success in dermatopathology, is why we’re bullish on the future of this company; PathologyWatch is redefining biopsy diagnostics as we know it.”
First Live Clinical Implementation of Dermatopathology AI with Ability to Generate Complete Reports
“We have the first live clinical implementation of dermatopathology AI that can generate a full report and make physicians significantly more efficient in Australia, as we’re working alongside physicians to better diagnose skin cancer,” said PathologyWatch co-founder and CEO Dan Lambert. “We provide dermatologists with a digital interface that lets them read their own cases. Heretofore, most of pathology has been done with a microscope. Our service offering is the first of its kind that can aid a dermatologist through digital tools and expert consultation.”
For more information on PathologyWatch, please visit pathologywatch.com.