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Ibex Raises $55 Million In Series C Funding To Drive Global Adoption Of Ai For Cancer Diagnosis

Sep 06, 2023•almost 2 years ago

Amount Raised

$55 Million

Round Type

series c

Tel AvivArtificial IntelligenceBiotechnologyHealth CareInformation TechnologySoftwareHealth DiagnosticsMachine Learning

Investors

Dell Technologies CapitalPlanven Entrepreneur VenturesA MoonOctopus VenturesSienna Venture Capital83 North

Description

Ibex Medical Analytics (Ibex), the leader in AI-powered cancer diagnostics, today announced it has closed a $55 million Series C financing round led by 83North. Additional participants in the round were Sienna Venture Capital and existing investors in the company, Octopus Ventures, aMoon, Planven Entrepreneur Ventures and Dell Technologies Capital. The financing brings total funding to over $100 million since Ibex's inception in 2016.

Company Information

Company

Ibex Medical Analytics

Location

Tel Aviv, Tel-Aviv District, Israel

About

Ibex Medical Analytics pioneers AI-based cancer diagnostics in pathology. Pathologists are challenged to provide accurate and timely cancer diagnoses as their workloads keep increasing due to a rise in cancer prevalence and advances in personalized medicine that result in growing diagnostic complexity. We use artificial intelligence (AI) to develop clinical-grade algorithms and digital workflows that detect cancer as accurately as a human pathologist. Our Galen™ platform demonstrated outstanding outcomes in clinical studies and helps pathologists and providers eliminate diagnostic errors, implement real-time quality control, reduce diagnosis time and boost productivity. Deployed worldwide, Galen is the first-ever AI-powered cancer diagnostics platform used in routine clinical practice in pathology labs, with demonstrated success in improving the quality and efficiency of cancer diagnosis. We are a multidisciplinary team of entrepreneurs, data scientists, software engineers and medical experts, working together to realize our vision: transform cancer diagnosis with AI and improve patient care. If you are an outstanding professional constantly looking for challenges, passionate about your work, a team player and want to make real impact – we want to hear from you.

FundzWatch™ Score

Medium Activity

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VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech