Proscia is rewiring pathology to speed up the development of targeted therapies, accelerate diagnosis, and match more patients with the best course of treatment
Proscia, a software company leading pathology’s transition to digital and AI, has secured $50M in funding, bringing its total raised to $130M. This investment follows Proscia’s record-breaking growth in 2024. Proscia now counts 16 of the top 20 pharmaceutical companies among its users and is on track for 22,000+ patients to be diagnosed on its Concentriq software platform each day.
Cancer patients often wait more than two months to receive a diagnosis and start treatment1 as the rest of medicine races ahead. Pathology—the bedrock of up to 70% of clinical decisions2 and a critical driver of every drug brought to market—is among the last fields of healthcare to modernize, despite mounting pressures from a workforce shortage and rising case volume. Proscia is rewiring pathology, shifting it from microscope to data-rich images, to overcome these challenges, unlock new insights, and shape the future of care.
At the center of this transformation is Proscia’s Concentriq, the only AI-driven pathology platform underpinning the precision medicine value chain. In powering drug discovery to diagnostics, Concentriq is a foundation for fueling the next novel therapies, accelerating diagnosis, and connecting a network of life sciences organizations and laboratories to match more patients with targeted treatments.
“We are living through an extraordinary moment in medicine,” said David West, Proscia’s CEO. “Demand for advanced diagnostics is surging, digital pathology is gaining global traction, and AI is moving faster than the boldest predictions made just a few years ago. Patients are waiting to realize the future of precision medicine. With this investment, we will ensure that more pathologists and scientists can deliver it.”
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The funding was led by global software investor Insight Partners along with AI Capital Partners (Alpha Intelligence Capital’s US fund) and Triangle Peak Partners. Other investors included Avenue Venture Opportunities Fund, Emerald Development Managers, GPG Healthcare, Fusion Fund, Interwoven Ventures, and Razor’s Edge.
“Insight has had a long-standing thesis on digitization and AI in pathology, and we’ve been waiting for a winner to emerge,” said Scott Barclay, Managing Director at Insight Partners. “Proscia is poised to be that leader. With its fast-growing customer base and strong champions of its product, it will continue to solidify its position as digital pathology moves into the mainstream.”
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Proscia will use the capital to propel its commercial momentum, growing adoption of its platform. This includes leveraging its OEM partnerships with Agilent Technologies and Siemens Healthineers. The company will also continue to weave AI into the core of Concentriq and expand its lead in offering the industry’s most extensive collection of applications through its precision medicine AI portfolio. Building on the impact of Concentriq Embeddings, which brings foundation models to the platform and has been demonstrated to accelerate AI development by 13x, Proscia will further enable researchers and data scientists to develop and deploy algorithms for biomarker discovery, clinical trials, and companion diagnostics on its platform.
“Adoption of digital pathology and AI is creating an opportunity for a more connected and data-driven healthcare ecosystem,” said Katie Maloney, Partner at industry-leading strategy consulting and market intelligence firm DeciBio. “This shift is enabling precision medicine by making breakthroughs more technologically achievable, commercially viable, and clinically impactful for patients.”
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Source – GlobeNewswire
