US-based medical informatics software developer Healthmyne received $15m yesterday in a series B round led by Ascension Ventures, the venture capital firm launched by healthcare provider Ascension.
University of Wisconsin-Madison’s commercialisation arm, Wisconsin Alumni Research Foundation (WARF), also took part along with VC firm Venture Investors and 4490 Ventures, the VC firm co-founded by WARF.
Founded in 2013, Healthmyne has developed quantitative analytics software to automatically evaluate radiology and oncology imaging scans. It will use the series B capital to drive international commercialisation activities.
The company raised $6.9m in equity funding in 2016 according to a securities filing, after securing $4.5m in a 2015 series A round co-led by 4490 Ventures and Venture Investors that also featured seed-stage fund HealthX Ventures and assorted angel investors.
Arvind Subramanian, president and chief executive of HealthMyne, said: “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.”
– The original version of this article appeared on our sister site, Global University Venturing.