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PathologyWatch Completes $25M Series B Round

NEW YORK – Digital dermatopathology firm PathologyWatch announced on Tuesday that it has raised $25 million in a Series B funding round.

Participants in the round included Ceros Capital Markets, Rock Creek Capital, Springtide Capital, Spark Growth Ventures, Blueprint Health, Blackbrook Management Group, and existing investors.

The Salt Lake City-based company said in a statement that it will use the funding to broaden its outreach to dermatologists and continue its research into skincare diagnostics and artificial intelligence. The funding will also support its business expansion into Texas, Florida, and Arizona, the firm said.

The lab uses proprietary technology to digitize skin biopsies, which could potentially be used when applying AI and recognition technology for pathology, a spokesperson for the company said. The firm also provides an end-to-end solution integrating laboratory information systems, scanners, digital viewer technology, and electronic medical records for pathologists.

"With the need for remote health services during COVID, the distributed network of top-tier dermatopathologists alongside a digital viewer that can be accessed anytime and anywhere could not have come at a more fortuitous time," Ceros Capital Markets CEO Mark Goldwasser said in a statement.