# Ibex Medical Analytics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ibex-medical-analytics

- Industry: Healthcare IT
- Headquarters: Tel Aviv, Israel
- Website: www.ibex-ai.com
- Total disclosed funding: $104M
- Latest round: Series C (Sep 6, 2023)
- Investors on record: 7

## About

Ibex Medical Analytics Ltd., based in Israel, specializes in AI-driven diagnostic solutions that enhance cancer detection and improve diagnostic accuracy for pathologists and healthcare professionals.Founded in 2016, Ibex Medical Analytics Ltd. focuses on providing AI-powered diagnostic tools for cancer detection. The company is headquartered in Tel Aviv, Israel. Co-founders Chaim Linhart and Joseph Mossel, the latter also serving as CEO, have guided the company through significant advancements and four successful funding rounds. The latest funding round occurred on September 6, 2023, when the company raised USD 55 mn in SERIES C funding led by 83 North, with participation from several other investors including Dell Technologies Capital and aMoon.Ibex specializes in AI-powered diagnostic solutions that enhance cancer detection and diagnosis across various body tissues. Their flagship products, including the Ibex Prostate and Ibex Breast platforms, utilize advanced algorithms to identify cancerous cells and other critical diagnostic features such as Gleason grading and tumor sizing. These products are designed for use by pathologists and healthcare professionals, providing a second opinion in real-time diagnostics and improving the accuracy of tissue analysis. Ibex solutions are deployed globally, serving a diverse clientele that includes leading physicians, health systems, and diagnostic solution providers in markets such as North America, Europe, and Asia. The company prioritizes improving patient care through its innovative technology, which has been validated through numerous clinical studies demonstrating high concordance with expert consensus diagnoses.Ibex generates revenue through B2B partnerships with hospitals, healthcare systems, and diagnostic laboratories by providing subscription-based access to their diagnostic platforms. Clients typically engage in contracts that secure ongoing use of Ibex's technology, ensuring that pathologists can efficiently incorporate AI assistance into their workflows. The revenue model may include initial setup fees along with recurring subscriptions for ongoing software updates and support services. Additionally, the company’s products, such as Ibex Prostate and Ibex Breast, fall under tiered pricing structures that cater to the varying needs of their clients, depending on the size of the institution and volume of diagnostic cases processed. This structured revenue approach facilitates a scalable solution that aligns with the growing demand for enhanced diagnostic accuracy in cancer care.In September 2023, Ibex Medical Analytics Ltd. raised USD 55 mn in SERIES C funding to expand its presence in the United States and accelerate the growth of its product portfolio. The company plans to develop and launch new diagnostic products while targeting expansion into key markets across North America and Europe. With the recent funding, Ibex aims to enhance its operational capabilities and broaden its reach within the healthcare sector.

## Funding rounds

- Series C, Sep 6, 2023, $55M — Sienna Investment Managers, 83 North, Octopus Investments, Planven, aMoon, Dell Technologies Capital
- Series B, Mar 9, 2021, $38M — 83 North, Octopus Investments, Planven, aMoon, Dell Technologies Capital
- Series A, Mar 26, 2019, $11M — 83 North, aMoon, Dell Technologies Capital, Kamet Ventures

## Investors

- 83 North (https://capitalatlas.ai/funds/83-north) — Series A, Series B, Series C
- aMoon (https://capitalatlas.ai/funds/amoon) — Series A, Series B, Series C
- Dell Technologies Capital (https://capitalatlas.ai/funds/dell-technologies-capital) — Series A, Series B, Series C
- Kamet Ventures (https://capitalatlas.ai/funds/kamet-ventures) — Series A
- Octopus Investments (https://capitalatlas.ai/funds/octopus-investments) — Series B, Series C
- Planven (https://capitalatlas.ai/funds/planven) — Series B, Series C
- Sienna Investment Managers — Series C