Nationwide Children’s Hospital spinout Deep Lens Inc. closed a $14 million Series A funding round, led by Maryland VC firm Northpond Ventures. Existing investors Rev1 Ventures, Sierra Ventures and Tamarind-Hill Partners also participated.
The Columbus-based startup will use the funding to expand its artificial intelligence and platform product development activities and scale its service, sales and marketing to support current and anticipated demand and growth for its disruptive approach to clinical trial recruitment.
The Series A funding round comes just three months after Deep Lens closed a VC-led seed equity round. The company’s funding now totals $17.5 million.
“This Series A financing is further validation of the value of our industry-changing approach to digital pathology in delivering the right cancer diagnoses faster and accelerating oncology trial recruitment and timelines,” Deep Lens co-founder and CEO Dave Billiter said in a statement.
Deep Lens’ flagship technology, VIPER (Virtual Imaging for Pathology Education and Research), was originally developed for research purposes. It was the de-facto platform for global oncology studies including The Cancer Genome Atlas Project and others, before being commercialized.