US-based medical informatics software developer Healthmyne received $15m yesterday in a series B round backed by University of Wisconsin-Madison’s commercialisation arm, Wisconsin Alumni Research Foundation.
4490 Ventures, the venture capital firm co-founded by Warf that raised a $49m second fund in February this year, also participated in the round, as did VC firm Venture Investors. The round was led by Ascension Ventures, the corporate venturing arm of healthcare provider Ascension.
Founded in 2013, Healthmyne has developed quantitative analytics software to automatically evaluate radiology and oncology imaging scans.
The platform provides volumetric information such as density, heterogeneity or doubling-times, combining it with data from clinical systems such as electronic medical records on a patient-centric visual dashboard.
Healthmyne will use the capital to drive its international commercialisation activities.
The company previously raised $6.9m in equity funding in 2016, according to a securities filing, after receiving $4.5m in a 2015 series A round co-led by 4490 Ventures and Venture Investors that featured HealthX Ventures and assorted angel investors.
Arvind Subramanian, president and chief executive of HealthMyne, said: “There is exceptional interest in the market for an integrated platform that can solve multiple high-impact problems in the diagnosis and treatment of patients across the healthcare enterprise.
“We are currently making that breakthrough in oncology, but our roadmap includes expansion into other major clinical specialties over time.
“Ascension Ventures’ investment is great validation that community health systems are looking for ways to get more clinical yield out of their imaging and clinical decision support investments and partnerships.”
