In a significant boost to the field of healthcare innovation, Segmed, Inc. has announced the successful completion of its $10.4 million Series A funding round. This latest round, which saw an oversubscription, was spearheaded by iGan Partners and Advocate Health, with notable contributions from Castellan Group, Engine Health Capital, Bold Brain Ventures, Fox Chase Cancer Center, as well as existing backers including Y Combinator, Nina Capital, Nova Capital, Blumberg Capital, and Expeditions Fund. This funding follows a previous investment round from Flashpoint Growth Debt Fund in 2023.
Since its founding, Segmed has been at the forefront of transforming medical imaging research through the provision of diverse and de-identified imaging data. The Series A funding will enable the company to further its mission of expanding its footprint in healthcare AI and enhancing its offerings for the biopharmaceutical and life sciences sectors. By leveraging its extensive network of healthcare providers, Segmed facilitates access to a broad spectrum of imaging data that can be seamlessly integrated with other datasets. The company’s technology also empowers clients to manage, de-identify, standardize, and develop imaging data cohorts within their own environments.
Sam Ifergan, Managing Partner at iGan Partners, expressed enthusiasm for the partnership, stating, “We are thrilled to support Segmed in their mission to revolutionize healthcare with their innovative imaging data solutions. The potential for Segmed’s platform to enhance patient care and healthcare outcomes is immense, and we are eager to contribute to their continued success.”
Emilie McKenna, Managing Director of Strategic Development and Investment at Advocate Health, echoed this sentiment, noting, “Advocate Health is dedicated to advancing medical science and improving patient outcomes. By investing in Segmed, we are aligning with our goal to build the most comprehensive provider-based research dataset and accelerate medical research.”
Martin Willemink, CEO and Co-Founder of Segmed, Inc., emphasized the significance of this milestone: “This funding is a testament to the confidence and support from our investors and strategic partners. Their collective expertise and commitment are pivotal as we continue to push the boundaries of medical imaging research and technology.”
Editorial Perspective
Segmed’s Series A funding marks a pivotal moment not only for the company but for the broader medical imaging and AI industries. With its innovative approach to managing and utilizing real-world imaging data, Segmed is poised to drive substantial advancements in healthcare research and patient care. By effectively addressing the challenges of data acquisition and standardization, Segmed is setting new standards for how medical imaging data is used in developing AI solutions and supporting biopharmaceutical research.
The company’s strategy to integrate diverse data sources and facilitate seamless access for researchers and developers is a game-changer. It underscores Segmed’s potential to accelerate medical research and innovation, ultimately leading to improved health outcomes on a global scale. With strong backing from prominent investors and healthcare institutions, Segmed is well-positioned to lead the way in transforming how medical imaging data contributes to scientific discovery and healthcare improvements.
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