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AiCure Raises $24.5 Million Series C Round to Broaden Its Strategic Value for Life Sciences
NEW YORK, Nov. 7, 2019 /PRNewswire/ -- AiCure, recognized as one of the world's 100 most innovative artificial intelligence companies, announced a Series C fundraising round totaling $24.5 million. The financing was led by Palisades Growth Capital (PGC) with new investors from Singtel Innov8 (Innov8), Asahi Kasei Corporation, Accelmed Growth Partners, and SpringRock Ventures. Participants in this round included all prior institutional investors, including Baird Capital, New Leaf Venture Partners, the Pritzker Group, Biomatics Capital, Tribeca Venture Partners, and Silicon Valley Bank (SVB). The investment will accelerate commercial, engineering, and research and development activities in order to advance research-grade data insights for life science companies.
"Since starting AiCure in 2010, we have been focused on developing AI-driven insights – to see, hear and understand how people respond to treatment," said Adam Hanina, CEO of AiCure. "We are delighted by the Series C and our new partners at PGC with new investors from Innov8, Asahi, Accelmed Growth Partners, and SpringRock. This is further validation of our precipitous growth, scientific integrity, and our commitment to improving patients' health worldwide and our responsiveness to the market needs of our global clients in the life sciences."
"We are delighted to lead an investment in AiCure – a true growth leader that is able to help the pharmaceutical industry develop better medications," said Jeff Anderson, a Partner at PGC.
"AiCure is at the forefront of therapeutic intelligence, assisted by an extensive clinical evidence base, and rooted in an enviable intellectual property portfolio."
Prior to raising institutional capital, AiCure was able to make substantial technical and commercial progress due to $7 million in National Institutes of Health (NIH) funding. With the closing of this round of financing, AiCure has raised nearly $52 million to date, with $12.25 million in its Series A in 2016 and $15 million in its Series B financing round in 2017.
AiCure uses artificial intelligence to see, hear and understand how people respond to treatment across clinical trials and patient care. Clinically proven to accurately measure and modify patient behavior, AiCure's technologies keep patients engaged and optimized to treatment, as well as assess treatment effectiveness.
Founded in 2010 and funded by the National Institutes of Health (NIH) and leading institutional investors, AiCure has more than 100 patents filed and works with global clients in over 25 countries. AiCure is globally recognized and a recipient of the Scrip Award, AI 100, and Digital Health 150.
For more information, please visit www.aicure.com and follow us @AiCureMed.
About Palisades Growth Capital (PGC)
Palisades Growth Capital is a Los Angeles-based private equity fund which makes growth stage investments into leading B2B expansion stage software and technology-enabled companies. The fund seeks to partner with exceptional entrepreneurs where we can work closely with management to help companies grow, scale operations and build a winning team and culture. For more information, please visit www.palisadesgrowth.com.
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