Total amount raised
$90.2 Millions
Latest funding date
November, 2019
Location
PathAI has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company is dedicated to improving patient outcomes through AI-powered pathology.
Keep reading to explore the intricacies of PathAI's fundraising journey and the investors backing this innovative platform.
What Is PathAI?
PathAI, founded in 2016, is headquartered in Boston, Massachusetts. The company was established by Dr. Andy Beck and Aditya Khosla. PathAI employs over 200 people, including more than 450 board-certified pathologists in their network.
PathAI focuses on enhancing pathology through AI-powered technology. They collaborate with biopharma and pathology labs to provide insights for biomarker discovery, drug development, and improving laboratory workflows.
One of their key products is AISight, a digital pathology image management system. PathAI's mission is to improve patient outcomes by leveraging advanced AI technology in the field of pathology.
How Much Funding Has PathAI Raised?
- Seed Round
- Amount Raised: $4.2M
- Date: December 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of AI-powered pathology solutions.
- Series A
- Amount Raised: $11M
- Date: November 2017
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $60M
- Date: April 2019
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance offerings, improve the pathology research platform, and fuel R&D into new tools and medical devices.
- Series B (Additional)
- Amount Raised: $15M
- Date: November 2019
- Lead Investors: LabCorp
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support the development of AI-driven pathology solutions.
- Series C
- Amount Raised: $165M
- Date: May 2021
- Lead Investors: D1 Capital Partners, Kaiser Permanente
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand partnerships with biopharma companies.
- Debt Financing
- Amount Raised: $100M
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and future growth initiatives.
Total Amount Raised: $415.2M. Current Valuation: Not publicly disclosed.
Key Investors
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm established in 1980. They provide capital and strategic support for growth companies.
- Investment Focus Areas: Technology, healthcare, financial services, consumer.
- Notable Investments: Airbnb, Alibaba, Uber.
- General Catalyst
- Details: General Catalyst is a venture capital firm with approximately $5 billion raised to date. They focus on early-stage and transformational investments.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Stripe, Snap, Warby Parker.
- 8VC
- Details: 8VC is a venture capital firm that invests in early-stage and growth-stage technology companies. They are known for their focus on transformative technology.
- Investment Focus Areas: Software, healthcare, logistics.
- Notable Investments: Palantir, Wish, Guardant Health.
- DHVC (Danhua Capital)
- Details: DHVC is a venture capital firm that invests in early-stage and growth-stage companies in the technology sector. They have a strong focus on innovation and disruptive technologies.
- Investment Focus Areas: AI, big data, biotechnology.
- Notable Investments: Wish, Zoom, PlusAI.
- LabCorp
- Details: LabCorp is a global life sciences company that provides comprehensive clinical laboratory and end-to-end drug development services. They are a key player in the healthcare sector.
- Investment Focus Areas: Clinical laboratory services, drug development, diagnostics.
- Notable Investments: Not publicly disclosed.
What's Next for PathAI?
PathAI stands at the cusp of significant opportunities, driven by its AI-powered pathology solutions. The company aims to enhance its offerings, improve its pathology research platform, and fuel R&D into new tools and medical devices. With partnerships with global pharmaceutical companies, PathAI is poised to accelerate drug development and bring faster, more accurate diagnostics to patients.
Future fundraising seems promising, given the successful Series B funding and the involvement of prominent investors like General Atlantic and General Catalyst. However, PathAI will need to navigate regulatory hurdles, maintain high standards, and compete in the rapidly evolving digital pathology sector to sustain its growth trajectory.
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