The company has been emerging as the groundbreaking leader of intuitive, easy-to-implement digital dermatopathology solutions that can speed the diagnostic process while reducing costs to clinics and enhancing patient care
Fremont, CA: Digital dermatopathology services company PathologyWatch raised USD 5 million in a Series A funding round led by SpringTide Investments and Rock Creek Capital with additional funding by individual investors. The company has been emerging as the groundbreaking leader of intuitive, easy-to-implement digital dermatopathology solutions that can speed the diagnostic process while reducing costs to clinics and enhancing patient care. Proceeds from the investment round will be used by the company to strengthen outreach to dermatology clinics nationwide.
"We have the first live clinical implementation of dermatopathology AI that can generate a full report and make physicians significantly more efficient in Australia, as we're working alongside physicians to diagnose skin cancer better," said PathologyWatch co-founder and CEO Dan Lambert. "We provide dermatologists with a digital interface that lets them read their own cases. Hitherto, most of the pathology has been done with a microscope. Our service offering is the first of its kind that can aid a dermatologist through digital tools and expert consultation."
By offering fully interfaced EMR (Electronic Medical Records) reporting and 24/7 access to digital slides, PathologyWatch differentiates itself from its competitors. The company's clients also have access to top dermatopathologists and the option to interpret and bill for their cases. PathologyWatch is further distinct by its primary focus on outpatient clinics. "I believe PathologyWatch is the future of dermatopathology for dermatologists. The group combines academic expertise with the efficiency of a private lab. It is a huge timesaver for my staff and me," said April Larson, Dermatologist. "By reviewing my own cases, I am able to make better clinical decisions for my patients. It's a win-win for everybody."
Over the next 12 months, the company expects to triple its sales force while expanding marketing efforts and implementing a strong channel partner strategy. The funding also represents a continued investment in the development of technology and supervised artificial intelligence (AI) for various cancer lines.
"We believe PathologyWatch will change how pathology operates by transforming biopsy diagnostics," said Austin Waters, principal at SpringTide Investments. "PathologyWatch has created a platform to digitize pathology workflows and is a leading developer of AI algorithms that detect and characterize cancers from biopsy samples. The quality and breadth of their solution, and their early success in dermatopathology, is why we're bullish on the future of this company; PathologyWatch is redefining biopsy diagnostics as we know it."