NEW YORK – Digital pathology firm Deciphex announced Tuesday that it has closed its $32.3 million Series C financing round.
The round was led by Molten Ventures with participation from ACT Venture Capital, Seroba, Charles River Laboratories, IRRUS Investments, HBAN Medtech Syndicate, and Nextsteps Capital. The funding will be used to expand its global services, enhance the utility of its core platforms, and accelerate the development of pathology foundational models. Additionally, the financing will go toward strengthening Deciphex's strategic partnerships with Novartis and Charles River and expand its services to pharmaceutical and biotechnology customers, the company said in a statement.
The Dublin-based firm offers the Diagnexia global digital pathology network for expanding access to subspecialty expertise and reducing diagnostic backlogs and the Patholytix preclinical platform to help accelerate drug development using artificial intelligence-based workflows.
The company also plans to use its pathology image repository to develop pathology foundational models, it said. Deciphex is currently expanding across the US, UK, EU, Canada, and Japan.
It previously raised $11.5 million in a Series B financing round.
"This investment accelerates our mission to transform global pathology access," Deciphex CEO and Founder Donal O'Shea said in a statement. "Our ergonomic, AI-enabled platform enhances diagnostic workflow and accuracy — allowing experts to clear backlogs faster without compromising quality. By expanding this technology worldwide, we're not just improving healthcare efficiency, we're supporting both the pathologists who drive diagnoses and the patients who depend on them."