Segmed Inc., a pioneering startup in the field of medical imaging data for AI development, has successfully raised $10.4 million in new capital, according to an announcement made by company leaders on Tuesday. The Series A financing round was led by Toronto-based venture capital firm iGan Partners and Advocate Health, a healthcare provider consisting of 67 hospitals. Other investors also participated in the funding round.
Originally established in 2017 in Stanford, California, Segmed aims to streamline access to imaging studies to advance the development of AI tools and biopharmaceuticals. The company’s proprietary platform enables the acquisition, de-identification, standardization, and provision of imaging data to researchers and innovators.
CEO and Co-founder of Segmed, Martin Willemink, expressed his enthusiasm, stating, “Our vision at Segmed has always been to enhance patient outcomes by revolutionizing medical imaging research. We are delighted to have the continued support of esteemed investors such as iGan Partners and Y Combinator, and we are thrilled to welcome clinical powerhouses like Advocate Health and Fox Chase Cancer Center to our network. Their expertise and experience will be invaluable as we work towards developing cutting-edge solutions for the future.”
The newly secured funds will aid Segmed in expanding its presence in the healthcare AI sector and further bridging the gap between imaging data and the biopharmaceutical and life sciences domains. With an extensive network of leading healthcare providers, Segmed facilitates the sharing of imaging information that can be seamlessly integrated with other types of data.
As of Tuesday, Segmed moves forward with strengthened financial backing, poised to make significant strides in driving innovations and advancements in the field of medical imaging AI.