Prospection, a Sydney-based health analytics startup that utilizes AI and machine learning to give patients insights into potentially life-threatening conditions, raised $45 million in a Series B funding round.
The round was led by Ellerston Capital’s JAADE fund, chipping in $30 million, with the balance coming from existing backers, the CSIRO VC fund Main Sequence Ventures, and Hong Kong-based Horizons Ventures.
Round: Series B
Funding Month: September 2021
Lead Investors: Ellerston Capital’s JAADE fund
Additional Investors: CSIRO VC fund Main Sequence Ventures, and Hong Kong-based Horizons Ventures
Company Website: http://www.prospection.com/
Software Category: PharmDash platform
About the Company: The venture was founded in 2012 at the deep tech incubator Cicada Innovations, by two engineers, Eric Chung and Ricky Chen, and Dr. Peter Cronin. Prospection collaborates with governments, pharmaceutical companies, and medical researchers across more than 80 therapy programs, including immuno-oncology, HIV, heart disease, and hepatitis. It takes a wide range of data points, including from health and insurance records, and applies data analytics and machine learning capabilities to discover patterns in healthcare to potentially improve patient outcomes. Prospection’s PharmDash platform uses longitudinal data to do everything from understanding market dynamics to patient and pharma data analytics.