Ikonopedia Secures $2 Million Series C Funding to Advance Breast Disease Screening and Diagnostic Platform

On March 1, 2019, VCBeat (WeChat Official Account: vcbeat) learned that Ikonopedia, a company focused on the treatment of breast diseases, had completed a $2 million Series C preferred equity financing. Texas Women Ventures (TWV) was one of the investors in this round, and Whitney Martin, Managing Director and Co-founder of TWV, will join the Board of Directors of Ikonopedia.

It is understood that Ikonopedia was founded in 2012 in Richardson, Texas, USA, as a company specializing in the development of breast radiology reporting systems and patient tracking systems. The company was co-founded by three medical doctors: Laszlo Tabar, A. Thomas Stavros, and Michael J. Vendrell. These three experts in breast imaging possess extensive experience in mammography, breast ultrasound, and breast imaging software, respectively, and hold prominent positions in the field of breast diseases.

Ikonopedia is an innovative structured breast reporting system and MQSA (Mammography Quality Standards Act) management system that automatically tracks and monitors patients, providing services in both screening and diagnostic modes. The system enhances the efficiency of breast imaging and patient safety, helping to ensure that women receive accurate and timely information regarding breast care, thereby promoting better health outcomes. All conclusions generated by Ikonopedia are stored as discrete data within the system, enabling error prevention, maintaining BI-RADS-compliant language, and automating many time-consuming processes.

ikonopedia has recently initiated or completed system installations across extensive practices and large radiology teams, including Sinai Health System in Chicago, Diagnostic Clinic of Longview in Texas, Invision Diagnostics in Florida and North Carolina, the Breast Cancer Detection Center in Alaska, and Maui Medical Center in Hawaii. The proceeds from this financing will be used to drive key product development and expand the company’s customer base.

Emily Crane, President of Ikonopedia, stated, “The increasing adoption of Ikonopedia among breast imaging practices and large radiology groups has laid the foundation for our company’s rapid growth. We look forward to Whitney leveraging his expertise and ambition to drive Ikonopedia’s continued innovation and commercial success.”

Regarding this collaboration, Whitney Martin, Managing Director and Co-Founder of TWV, stated, “TWV’s mission is to invest in technology-leading companies founded and led by women. We are honored to join the Ikonopedia team under the leadership of Emily Crane, and this funding will also be directed toward technologies serving women.”

Headquartered in Dallas, Texas, TWV Capital is an independent private equity firm. The company provides growth capital to privately held businesses with inclusive management teams and ownership structures through innovative capital solutions. What sets TWV Capital apart is its commitment to leaving ownership and control in the hands of the investees and their management teams. In addition to providing funding, TWV Capital boasts a team of more than 100 industry functional experts, entrepreneurs, and seasoned professionals who serve as trusted advisors and resources for its portfolio companies.