PathAI will use the funding to grow its diagnostics platform. Here are the top-line bullets you need to know.
PathAI, which offers AI-driven pathology and diagnostics tools, has raised $165M in a Series C. The round drew participation from Kaiser Permanente Ventures, Tiger Global Management, D1 Capital, General Atlantic, and General Catalyst, among others.
HOW’S THE COMPANY PERFORMING?
- Boston-based PathAI assists pathologists in making timely and accurate patient diagnoses through better image recognition. The company also provides solutions to identify the ideal patients for clinical therapies.
- PathAI’s partners include Bristol Myers-Squibb, the Bill and Melinda Gates Foundation, Labcorp, General Atlantic, and General Catalyst, among others.
- The company has a total of 165 employees.
WHY DOES THE MARKET MATTER?
- The artificial intelligence in diagnostics market is projected to grow at a CAGR of 32.3% to reach a value of $3B by 2027, according to Grand View Research.
- Venture funding in AI diagnostic startups has accelerated and a third of all AI healthcare companies are developing diagnostics, bringing the sector into focus.
- Speeding up clinical trials by identifying the right candidates using AI allows drugs to reach the market faster, improves outcomes, and cuts costs.