# icoMetrix NV

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/icometrix

- Industry: Software
- Headquarters: Leuven, Belgium
- Website: www.icometrix.com
- Total disclosed funding: $17M
- Latest round: Series A (May 14, 2019)
- Investors on record: 3

## About

icoMetrix NV is a Belgian company specializing in AI-driven solutions for brain imaging, aiding in the diagnosis and monitoring of neurological conditions with FDA-cleared and CE-marked technologies.Founded in 2011 and headquartered in Leuven, Belgium, icoMetrix NV focuses on developing advanced imaging solutions for neurological conditions. The company was established by Wim Van Hecke, who serves as CEO. icoMetrix raised a total of USD 18.00 mn in Series A funding on May 14, 2019, led by Forestay Capital, with participation from Capricorn Partners and Optum Ventures.icoMetrix specializes in advanced AI-driven solutions for brain imaging that facilitate the diagnosis and monitoring of various neurological conditions. Their flagship products, icobrain dm and icobrain aria, are FDA-cleared and CE-marked technologies designed to accurately visualize and quantify changes in brain lesions and volumes over time, particularly in multiple sclerosis, dementia, traumatic brain injury, epilepsy, and stroke. These solutions assist healthcare professionals in making timely and informed clinical decisions by providing standardized assessments of MRI scans, enhancing the capability to detect subtle changes that may indicate disease progression or treatment response. The company serves a diverse client base that includes hospitals and imaging centers across more than 400 locations worldwide, with significant adoption reported in markets such as the United States, Europe, and Canada.icoMetrix generates revenue primarily through B2B transactions with healthcare providers, including hospitals and diagnostic imaging centers. Their business model includes direct sales of their software solutions as well as potential subscription-based agreements for ongoing access to their technology. The reimbursement landscape for their services is supported by two specific US reimbursement codes (0865T and 0866T), which have multiple insurers covering them, thereby facilitating smoother financial transactions for clients. The pricing structure for these services reflects the complexity and value of the AI-driven analyses, allowing healthcare providers to integrate icoMetrix solutions into their standard workflow for enhanced patient care and diagnostic accuracy. In 2023, icoMetrix reported an EBITDA of USD -2,508,693.40.icoMetrix plans to utilize the recent Series A funding of USD 18.00 mn to support the development of new products and expand its market reach. The company aims to introduce enhancements to its existing product line while exploring new solutions for healthcare providers. Additionally, icoMetrix is targeting further expansion into North America and Europe by 2025, leveraging its established client base and partnerships to drive growth.

## Funding rounds

- Series A, May 14, 2019, $17M — Capricorn Partners, Optum Ventures, Forestay Capital

## Investors

- Capricorn Partners (https://capitalatlas.ai/funds/capricorn-partners) — Series A
- Optum Ventures (https://capitalatlas.ai/funds/optum-ventures) — Series A
- Forestay Capital (https://capitalatlas.ai/funds/forestay-capital) — Series A