Segmed Inc. Raises $10.4 Million to Fuel AI Development in Healthcare
Segmed Inc., a innovative startup focused on gathering medical imaging data to propel the development of artificial intelligence (AI) tools, recently announced that it has secured $10.4 million in new funding. This Series A financing round was spearheaded by Toronto-based VC firm iGan Partners and Advocate Health, a network of 67 hospitals. Other investors also participated in this funding round.
Founded in 2017 and headquartered in Stanford, California, Segmed plays a crucial role in streamlining access to imaging studies to propel the advancement of AI tools and biopharmaceuticals. The company specializes in acquiring, de-identifying, standardizing, and providing imaging data to researchers and innovators through its proprietary platform.
CEO and Co-founder Martin Willemink expressed his excitement about the continued support from major investors like iGan Partners and Y Combinator, as well as the addition of clinical powerhouses like Advocate Health and Fox Chase Cancer Center. He emphasized that their expertise and experience will be invaluable as Segmed continues to innovate and develop cutting-edge solutions for the future.
Moving forward, Segmed plans to utilize the newly raised funds to expand its presence in the healthcare AI sector and facilitate the integration of imaging data into the biopharmaceutical and life sciences industries. With a vast network of healthcare providers, the company is able to share imaging information that can be connected with other data sources. Currently, Segmed has established partnerships with thousands of healthcare facilities and imaging centers across five continents.
Furthermore, Segmed’s technology enables clients to securely access, de-identify, standardize, and create cohorts of imaging data within their own environments. This feature enhances efficiency and data privacy while empowering researchers to conduct innovative studies and accelerate medical research.
Emilie McKenna, MBA, managing director of strategic development and investment at Advocate Health, emphasized the commitment of their team to advancing the science of medicine by developing a comprehensive provider-based research data set. She expressed eagerness to collaborate with Segmed in unlocking imaging data to drive progress in medical research.
Conclusion
Segmed Inc.’s successful fundraising efforts not only underscore the growing importance of AI in healthcare but also highlight the critical role of innovative startups in driving industry advancements. With a strong focus on improving patient outcomes and revolutionizing medical imaging research, Segmed is poised to make significant contributions to the future of healthcare. Through strategic partnerships and cutting-edge technology, the company is well-positioned to lead the way in harnessing the power of AI and imaging data to transform the healthcare landscape.
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