The funding will be available in seven tranches, including an initial €2.0 million tranche of bonds with warrants that the company immediately exercised.
BrightEdge was founded by the American Cancer Society to invest in for-profit companies developing novel cancer therapeutics and diagnostics.
The Boston-based company said it will use the funding in part to continue refining its artificial intelligence-powered pathology research platform.
The Austin, Texas-based company offers more than 30 tests, including those for food sensitivity, fertility and women's hormones, sexually transmitted diseases, and thyroid.
The company envisions creating a "vocometer … to provide disease screening and management solutions based on acoustic analysis of seconds of voice."
The firm said that it will use the funding to support business activities to meet demand for its approach to clinical trial recruitment.
The company, which develops blood-based tests for cancer and autoimmune diseases, expects a second closing of the Series C round in Q2 of this year.
The company has initial financing of $35 million, and has licensed its foundational SHERLOCK and INSPECTR technologies from the Broad and Harvard, respectively.
With deep learning software running on a supercomputer, Paige.AI is developing pathology technology that learns from large-scale digital image datasets.
The company said that three unnamed insiders who are in control of the company are expected to subscribe for most of the securities for sale.