Total amount raised
$190 Millions
Latest funding date
2/1/2025
Location
Prenuvo has successfully raised $120 million in a Series B funding round, attracting a total of ten investors including Felicis and Left Lane Capital.
The company offers comprehensive whole-body MRI scans aimed at preventative healthcare, leveraging advanced MRI technology and AI research.
Keep reading to explore the intricacies of Prenuvo's fundraising journey and the investors backing this innovative platform.
What Is Prenuvo?
Founded in 2018, Prenuvo is headquartered in Vancouver, British Columbia, Canada. The company was established by Andrew Lacy and focuses on providing comprehensive whole-body MRI scans for preventative healthcare.
Prenuvo's advanced MRI technology and AI research enable early detection of various health conditions, including solid tumors, autoimmune disorders, and brain aneurysms. Their scans cover major organs, the brain, and the spine, offering a proactive approach to health.
With a team of 101-250 employees, Prenuvo continues to innovate in the field of medical imaging, aiming to make early detection accessible and efficient for everyone.
How Much Funding Has Prenuvo Raised?
- Series A
- Amount Raised: $70M
- Date: October 2022
- Lead Investors: Felicis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the core MRI technology.
- Debt Financing
- Date: October 2022
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for operational expenses.
- Series A
- Date: January 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To initiate the development of their whole-body MRI technology.
- Series B
- Amount Raised: $120M
- Date: February 2025
- Lead Investors: Felicis, Forerunner, Left Lane Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance core MRI services, launch new AI-powered products, and support international expansion.
Total amount raised: $190M. Current valuation: Not publicly disclosed.
Key Investors
- Felicis
- Details: Felicis is a venture capital firm founded in 2006, focusing on companies reinventing core markets and creating frontier technologies. The firm manages over $3 billion in capital across nine funds and has backed more than 50 companies valued at over $1 billion.
- Investment Focus Areas: Core market reinvention, frontier technologies, early-stage investments.
- Notable Investments: Fitbit, Guardant Health, Ring.
- Forerunner Ventures
- Details: Forerunner Ventures is a venture capital firm investing at the intersection of shifting consumer behavior and emerging, transformative technology. Founded in 2012, Forerunner has raised nearly $3 billion in assets under management.
- Investment Focus Areas: Shifting consumer behavior, emerging transformative technology, early-stage investments.
- Notable Investments: Chime, Faire, OURA.
- Left Lane Capital
- Details: Left Lane Capital is a global venture capital and growth equity firm founded in 2019, based in New York and London. The firm invests in hyper-growth consumer and SMB businesses with enduring customer relationships.
- Investment Focus Areas: Hyper-growth consumer businesses, SMB businesses, growth sectors of the economy.
- Notable Investments: Talkiatry, Evvy, Pearl.
What's Next for Prenuvo?
With $120 million in fresh funding, Prenuvo is poised to expand its whole-body MRI screening services and introduce new AI-powered health products. The company plans to open 15 more clinics, including international locations in Europe and Australia, and launch Prenuvo Enhanced, a bundled offering of advanced health screenings. This expansion aligns with the growing consumer demand for proactive and preventative healthcare solutions.
Future fundraising opportunities seem promising as Prenuvo continues to innovate and scale. The company may attract additional investment to support further technological advancements and geographic expansion. However, challenges such as competition, regulatory hurdles, and the need to educate consumers about the benefits of proactive health management could pose obstacles. Despite these challenges, Prenuvo's commitment to early detection and personalized health insights positions it well for continued growth.
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