Prenuvo, a California-based MedTech company that uses advanced MRI using AI to proactively screen for cancer and disease in under one hour, raised $70 million in Series A equity and debt funding led by Felicis.
Tony Fadell, NYT bestseller author and founder of Nest; Dr. Timothy A. Springer, Lasker award recipient; Anne Wojcicki, CEO of 23&Me; Steel Perlot, with Eric Schmidt as chairman; entrepreneur Rande Gerber; and wellness investor, supermodel, and actress, Cindy Crawford also participated in the round.
The funds will use to invest in its artificial intelligence (AI) team, new radiology tools, custom advanced MRI builds, and national expansion.
“The current healthcare system is reactive. For many, health information comes too late, once a disease or condition has progressed, has symptoms, and is more difficult and expensive to treat,” says Andrew Lacy, founder and CEO of Prenuvo. “Our series A financing is a validation of Prenuvo’s mission to catch conditions before they become crises and transform the healthcare approach as we know it to one rooted in proactive health.”
The company claims to have grown in revenue by 240% year-over-year and is scaling quickly.
Prenuvo currently operates seven clinics, including newly opened locations in Santa Monica and Boca Raton, and plans to open new clinics in New York City, Chicago, Boston, and Bethesda over the next year.
Company: Prenuvo, Inc.
Round: Series A
Funding Month: October 2022
Lead Investors: Felicis
Additional Investors: Tony Fadell, Dr. Timothy A. Springer, Anne Wojcicki, Steel Perlot, Eric Schmidt, Rande Gerber; and Cindy Crawford
Company Website: https://prenuvo.com/
Software Category: MRI Screening
About the Company: Founded by Andrew Lacy, Prenuvo is an innovative medical technology company specializing in whole-body medical diagnostic imaging for the early detection of cancer and other diseases. Prenuvo offers radiation-free, full-body MRI scans that are faster, less costly, and more intelligent than traditional methods. Using cutting-edge software and proprietary AI technology, a single Prenuvo scan covers 26 regions and organs of the body in under one hour. With high clinical diagnostic quality, it can screen for and diagnose more than 500 conditions – including most solid tumors at Stage 1 – at a fraction of the cost of traditional MRI screenings. Its mission is to transform the medical paradigm from reactive to proactive. Prenuvo operates preventative screening clinics in Vancouver, Silicon Valley, Los Angeles, Dallas, Boca Raton, and Minneapolis.