Enlitic Closes $25 Million in Series B-1 Funding Round

(image: Korea Bizwire)

San Francisco, Nov. 14 (Korea Bizwire) – Enlitic, Inc., a leading developer of artificial intelligence (AI) software designed to help doctors diagnose patient conditions more quickly and more accurately, announced today the completion of $25 million in Series B-1 financing. Thorney Investment Group, one of Australia’s leading investment groups, led the round and Enlitic’s existing investors – Capitol Health, Marubeni Corporation, Amplify Partners, The Jagen Group, and Regal Funds Management – also participated. Enlitic will use the proceeds for the next phase build-out of its comprehensive AI software platform and to further grow its global footprint with major regional partners in the healthcare industry, paving the way for market deployment in 2020. The company will debut its new platform in December at RSNA 2019.

Enlitic also announced the appointment of Lawrence Gozlan of The Jagen Group to the company’s board of directors, joining Sunil Dhaliwal of Amplify partners, Andrew Harrison of Capitol Health, Kevin Lyman, Enlitic’s Chief Executive Officer, and Michael Sistenich, Enlitic’s Chairman of the Board.

In building the company’s best-in-class platform, Enlitic’s team of practicing radiologists, data scientists, and software engineers analyze millions of clinical cases from global healthcare partners to improve diagnostic accuracy, speed, and patient outcomes, as well as to accelerate pharmaceutical research and drug trials. Since undergoing an executive reorganization in June of 2018 that included the appointment of Kevin Lyman as Chief Executive Officer, Anthony Upton as Chief Medical Officer, and Michael Sistenich as Chairman of the Board, Enlitic has experienced unprecedented growth that includes the following achievements:

• In April, Enlitic announced that it had completed its Series B funding with a $15 million raise.
• Also, in April, the company signed a significant joint development agreement with Marubeni Corporation and global imaging company, Konica-Minolta, that streamlines Enlitic’s expansion efforts in the Asian market.
• In August, Enlitic announced that it had rounded out its core leadership team by appointing a Chief Financial Officer and heads of Research & Development, Business Development, Regulatory & Quality Assurance, Creative, and Communications. The company also opened a new office in New York City.
• In October, the company announced a partnership with Select Healthcare Solutions, a healthcare technology and services provider that owns and operates cancer centers across the U.S. The partnership provides Enlitic with high-quality data to accelerate its research into the early detection of most forms of cancer and will help drive the company’s development of best-in-class workflow solutions for oncology centers around the world.

“Enlitic’s rapid growth, including our successful fundraising, points to the enthusiasm and confidence we have elicited in the marketplace with the development of our comprehensive AI software platform and our highly efficient business model,” said Kevin Lyman, Enlitic’s Chief Executive Officer. “We look forward to formally debuting our platform at RSNA 2019 in December and to its market deployment in 2020.”

Alex Waislitz, Founder and Chairman of Thorney Investment Group said, “The global healthcare industry is experiencing the dawn of a new age with artificial intelligence and we are excited to be at its forefront with our investment in Enlitic and the company’s game changing AI-powered software platform.”

Commenting on the appointment of Lawrence Gozlan to Enlitic’s board of directors, Michael Sistenich, Enlitic’s Board Chairman said, “Lawrence joins us with one of the most extensive backgrounds in the biotechnology and healthcare investment communities. I am certain that his expertise and keen eye to the future of global healthcare will add tremendous value to our board.”

About Enlitic          

Named one of the world’s “50 Smartest Companies” by MIT Technology Review, Enlitic is a pioneer in medical deep learning, building a best-in-class platform that bridges human and artificial intelligence to save time, money, and ultimately, lives. The company’s team of practicing radiologists, data scientists, and software engineers analyze a vast stream of healthcare data –– including millions of clinical cases from cross-sector healthcare partners –– to improve diagnostic accuracy, speed, and patient outcomes, as well as to accelerate pharmaceutical research and drug trials. Enlitic is based in San Francisco and has offices in New York and Sydney, Australia. Find out more at www.enlitic.com, and follow the company on Twitter, and LinkedIn.

John Ordoña
Enlitic
jordona@enlitic.com

Source: Enlitic via GLOBE NEWSWIRE