NEW YORK – Digital pathology company Proscia announced on Tuesday that it has raised $37 million in a Series C financing round.
The funding round included participation from Highline Capital Management, Triangle Peak Partners, and Alpha Intelligence Capital, among existing investors. Proscia has raised $72 million to date including closing a $23 million Series B round in 2020.
Proscia said in a statement that the funding will allow it to accelerate adoption of computational pathology, led by its artificial intelligence-based Concentriq platform. The company will use the money to scale its commercial operations by expanding its sales, marketing, and support teams, along with growing distribution partnerships.
The Philadelphia-based firm will also "increasingly focus on its regulatory strategy" in light of receiving CE marking under Europe's new In Vitro Diagnostic Regulation rules last week. It will invest in broadening its portfolio and introduce more third-party applications onto Concentriq, it said.