Ibex Raises $55 Million in Series C Funding to Drive Global Adoption of AI for Cancer Diagnosis; This Round of Financing Brings Total Funding to Over $100 Million

Ibex Medical Analytics (Ibex), the leader in AI-powered cancer diagnostics, has announced it has closed a $55 million Series C financing round led by 83North. The announcement was made on September 6, 2023. Additional participants in the round were Sienna Venture Capital and existing investors in the company, Octopus Ventures, aMoon, Planven Entrepreneur Ventures, and Dell Technologies Capital. The financing brings total funding to over $100 million since Ibex’s inception in 2016. Ibex is transforming cancer diagnostics with AI-powered solutions that help pathologists improve the quality of diagnosis and support laboratories with enhanced efficiency and better turnaround times. Cancer incidence is rising around the world while its diagnosis becomes more complex and nuanced, causing heavy workloads for pathologists and laboratories. The increasing demand is compounded by a global shortage of pathologists who still rely heavily on manual work and solely on visual analysis of biopsies. Ibex’s Galen™ platform helps overcome these challenges with AI-powered workflows and decision support tools that pathologists use in their everyday practice.

Login Or Register To Read Full Story