Ryerson University alumnus firm Figure 1 raises CAN$2m ($1.89m) seed round for healthcare photo sharing app.
Figure 1, an alumnus company of Ryerson University, has raised CAN$2m ($1.89m) in seed backing for its healthcare photo sharing app.
The round was co-led by venture firms Version One Ventures and Rho Canada Ventures, as well as securing support from startup support organisation MaRS through its Investment Accelerator Fund and angel investors.
Figure 1 is looking to build the largest free repository of medical images to be shared by medical professionals. It works as a mobile app which gets its images through crowdsourcing as professionals upload and tag images, and then rate each other’s images for accuracy. Figure 1 is available in Canada, the US, and the UK, and is looking to expand to desktop and android devices in the coming months.
The company has passed through the university’s Ryerson Futures accelerator programme, and currently resides in the institution’s incubator Digital Media Zone.
Gregory Levey, co-founder of Figure 1, said: “Founding our company at the Digital Media Zone helped us benefit from the entrepreneurial spirit at Ryerson. The collaborative environment of the DMZ, along with the financial support and mentorship provided by Ryerson Futures allowed us to focus completely on building a product and getting our company off the ground.”
