Deciphex, a Dublin, Ireland-based provider of pathology software and services, announced that it closed an $11.5 million Series B funding round. 

The round was led by ACT Venture Capital, with Charles River Laboratories, Novartis, IRRUS Investments, Nextsteps Capital, HBAN Medtech Syndicate, and other current investors also participating. 

The company will leverage the funding to continue driving global growth and consolidate its position as a leader in revolutionizing clinical and non-clinical pathology, through the use of digital pathology and artificial intelligence (AI), along with supporting ongoing expansion in the UK, Canada, and the Middle East.

Donal O'Shea, Chief Executive Officer of Deciphex, says, “This funding is an important milestone for the business in its ambition to use Digital Pathology and AI to network and accelerate the world’s clinical and non-clinical pathologists. At Deciphex we’re continuously working to provide better solutions for world-class pathology care and better patient outcomes.”

Deciphex is a rapidly scaling player in the emerging pathology computer-aided diagnostics sector that uses digital pathology and AI to accelerate pathology diagnostics, improving productivity and patient outcomes.

The company has also driven considerable traction in the research pathology market, with the adoption of the company’s Patholytix digital pathology platform by a significant majority of the world's biggest pharmaceutical companies and contract research organizations (CRO).

Company: Deciphex Limited

Raised: $11.5M

Round: Series B

Funding Month: May 2022

Lead Investors: ACT Venture Capital

Additional Investors: Charles River Laboratories, Novartis, IRRUS Investments, Nextsteps Capital, and HBAN Medtech Syndicate

Company Website: https://www.deciphex.com/

Software Category: Pathology Software

About the Company: Founded in 2017 Deciphex is a software company focused on developing digital pathology-based software and services for clinical and research pathology. Deciphex is a rapidly scaling player in the emerging pathology computer-aided diagnostics sector that uses digital pathology and AI to accelerate pathology diagnostics, improving productivity and patient outcomes. Deciphex ambition is to network and accelerate the world's pathologists. The company believes that digital pathology combined with artificial intelligence will help make pathologists work more efficiently, offering a solution to the pending challenges in supply/demand in pathology services. .

Source: https://www.deciphex.com/news/irish-digital-pathology-and-ai-company-deciphex-raises-11-5m-in-series-b-funding-led-by-act-venture-capital