Total amount raised
$134.3 Millions
Latest funding date
Location
Imagen has successfully raised significant funding through multiple rounds, with the latest being a Series C round closed on February 5, 2021. The company is backed by nine investors, including notable names like Casdin Capital and Zach Weinberg.
Imagen's platform offers comprehensive diagnostic imaging solutions tailored to primary care practices, enhancing patient outcomes through early detection and timely intervention. Keep reading to explore the intricacies of Imagen's fundraising journey and the investors backing this innovative platform.
What Is Imagen?
Founded in 2015, Imagen operates in the healthcare industry, specializing in diagnostic imaging and AI-driven diagnostic solutions. The company is based in New York, New York, and was founded by Alex Dresner, Rob Lindsey, Sumit Chopra, and Tom Hotchkiss.
With an employee count ranging from 101 to 250, Imagen partners with primary care practices to provide on-site diagnostic imaging capabilities and advanced diagnostic interpretations. Their platform leverages FDA-cleared AI software to enhance the accuracy and timeliness of medical imaging diagnoses, aiming to improve patient outcomes and the financial performance of medical practices.
How Much Funding Has Imagen Raised?
- Series C
- Amount Raised: $75M
- Date: February 2021
- Lead Investors: Casdin Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand diagnostic imaging solutions and enhance AI capabilities.
- Series B
- Amount Raised: $40M
- Date: September 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve diagnostic accuracy.
- Series A
- Amount Raised: $14.3M
- Date: March 2017
- Lead Investors: Threshold
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop AI-based software for reducing diagnostic errors.
- Seed Round
- Amount Raised: $5M
- Date: June 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of diagnostic imaging solutions.
Total Amount Raised: $134.3M. Current Valuation: Not publicly disclosed.
Key Investors
- Casdin Capital
- Details: Casdin Capital is a New York-based investment firm founded by Eli Casdin. The firm focuses on investing in life sciences and healthcare companies.
- Investment Focus Areas: Life sciences, healthcare, biotechnology.
- Notable Investments: Relay Therapeutics, 10x Genomics, Ginkgo Bioworks.
- Threshold
- Details: Threshold, formerly known as DFJ, is a venture capital firm based in Menlo Park, California. The firm invests in early-stage technology companies.
- Investment Focus Areas: Technology, healthcare, consumer internet.
- Notable Investments: Tesla, SpaceX, Twitter.
What's Next for Imagen?
Imagen stands at the cusp of significant growth, driven by the increasing integration of AI in medical diagnostics. The company’s AI-based software aims to reduce diagnostic errors, a critical need in the healthcare industry. With substantial investor interest, as evidenced by their recent $14.3 million funding round, Imagen is well-positioned to expand its technology to cover a broader range of medical imaging applications.
Future fundraising opportunities appear promising as the company continues to develop and commercialize its AI solutions. However, challenges such as competition from other AI diagnostic tools and regulatory hurdles remain. Ensuring the accuracy and reliability of their AI algorithms will be crucial for gaining trust from medical professionals and achieving long-term success.
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