Proscia Raises $50M to Expand AI Pathology Platform and Precision Medicine Tools
Proscia, a developer of AI-based pathology software, has raised $50 million in funding, bringing its total capital raised to $130 million.
The funding round was led by Insight Partners, with participation from AI Capital Partners, Triangle Peak Partners, Avenue Venture Opportunities Fund, Emerald Development Managers, GPG Healthcare, Fusion Fund, Interwoven Ventures, and Razor’s Edge. The company plans to use the funds to grow its customer base and expand the core AI capabilities of its Concentriq platform.
According to Proscia, its Concentriq platform supports drug discovery and diagnostics by transforming pathology from microscope-based examination to data-driven analysis. The company reports that 16 of the top 20 pharmaceutical companies are now using Concentriq, and over 22,000 patients are diagnosed daily on the platform. Proscia states that Concentriq serves as a foundation for improving the precision medicine value chain, helping to accelerate drug development, improve diagnostic accuracy, and match more patients with targeted therapies.
Proscia's foudners: Nathan Buchbinder, David West, and Coleman Stavish
The new funding will support the expansion of Concentriq’s AI capabilities, including enhanced biomarker discovery and algorithm development. According to the company, Concentriq Embeddings, which integrates foundation models into the platform, has demonstrated a 13-fold acceleration in AI development. Proscia also plans to strengthen its partnerships with Agilent Technologies and Siemens Healthineers to broaden the platform's adoption.
See also: The Rising Role of AI-enabled Digital Pathology in Drug Discovery
Proscia's expansion comes as the pathology sector faces mounting pressure from rising cancer cases and a shrinking workforce. According to Cancer Research UK, cancer patients in the UK often wait more than two months to receive a diagnosis and start treatment. NHS England reports that pathology underpins up to 70% of clinical decisions and plays a critical role in drug development. Proscia's shift toward AI-based pathology aims to address these challenges by increasing diagnostic efficiency and accuracy.
Katie Maloney, Partner at strategy consulting firm DeciBio, described the growing adoption of digital pathology and AI as a key enabler for precision medicine. Maloney stated that this shift is improving the technological and commercial feasibility of precision diagnostics and targeted therapies.
Presently, Proscia holds FDA 510(k) clearance and CE-IVDR certification for its diagnostic software.
Topics: AI & Digital
