Enlitic Secures $25 Million in Series B1 Funding to Advance AI-Powered Medical Diagnostic Platform

VCBeat (WeChat ID: vcbeat) has learned that on November 14, 2019, artificial intelligence company Enlitic announced it had secured $25 million in Series B1 financing. This round of funding was led by ThorneyInvestmentLead investor; existing investors Capitol Health, Marubeni Corporation, Amplify Partners, Jagen Group, and Regal Funds Management participated in the follow-on investment.

In addition, Lawrence Gozlan of Jagen joined the Enlitic Board of Directors, serving as Co-Chair alongside Sunil Dhaliwal of Amplify Partners, Andrew Harrison of Capitol Health, and Lyman and Michael Sistenich.

In another statement, Lyman stated that Enlitic will officially launch its latest software platform in December and continue to collaborate with other healthcare companies to further expand its global influence in the healthcare industry, with the aim of achieving market deployment by 2020.

Enlitic was founded in August 2014 and is headquartered in San Francisco, California, USA, with offices in New York and Sydney, Australia. The company is an AI software developer in the healthcare sector, dedicated to streamlining physicians' workflows and improving the accuracy of disease diagnosis.

Leveraging a platform developed by data scientists, machine learning experts, and medical specialists, Enlitic can analyze various healthcare data sources, including billions of clinical cases, to enhance diagnostic accuracy and speed, improve patient treatment outcomes, and accelerate drug research and clinical trials.

The Enlitic platform can seamlessly integrate multiple stages of the radiology workflow. During triage, the platform provides real-time interpretation based on scan results, collaborates with radiologists to analyze findings, offers measurements and descriptions, automatically performs longitudinal analysis, and even generates reports. Furthermore, the platform provides post-reading analysis by reviewing radiology reports against corresponding images to help prevent diagnostic errors by physicians.

Enlitic was named one of the “50 Smartest Companies” by MIT Technology Review.

Furthermore, the company completed a $15 million Series B financing round in April this year. In an interview, Lyman, CEO of Enlitic, stated that the company’s valuation has nearly quadrupled since the first-half funding round, with investors clearly signaling their belief that it is poised to become a unicorn.

Thorney Investment is a venture capital firm based in Melbourne, Australia, focusing on investment inEmerging Manufacturing, Technology, Mining Services, and Resources Company。

Capitol Health is a leading diagnostic imaging services company in the Australian healthcare market. Headquartered in Melbourne, the company operates clinics in central Melbourne, Victoria, Tasmania, and Western Australia.

Marubeni Corporation, established in 1858 and headquartered in Tokyo, Japan, engages in product handling and service provision across numerous sectors, including the import and export of food, materials, paper, chemicals, energy, metals, and mineral resources, as well as trading within the Japanese market.

Amplify Partners, founded in 2012, is a venture capital firm based in California, United States. The company focuses on investing in technology-driven enterprises and is dedicated to transforming innovative ideas into products. In addition to providing capital, the firm offers expertise to its portfolio companies during their early stages.

Jagen Group, established in 1952 and located in North Rhine, Germany, is a venture capital family enterprise.

Regal Funds Management, established in 2004, is a hedge fund management firm based in Sydney, Australia. The company specializes in initial public offerings (IPOs), late-stage venture capital, and expansion capital.

(Compiled by Jiang Ying)