# PathAI

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

- Industry: Software
- Headquarters: Boston, US
- Website: www.pathai.com
- Total disclosed funding: $251M
- Latest round: Series C (May 19, 2021)
- Investors on record: 15

## About

PathAI, Inc. is a biotechnology company that develops AI-powered pathology solutions to improve diagnostic accuracy in healthcare. Their technology assists pathologists in identifying diseases, enhancing patient outcomes through faster and more reliable diagnoses.Founded in 2016 in Boston, US, PathAI, Inc. specializes in providing AI solutions for pathology. The company has raised a total of USD 165 mn, with its latest funding round, Series C, completed on May 19, 2021, involving prominent investors such as D1 Capital Partners and Kaiser Permanente Ventures. Andrew Beck serves as the CEO and has an extensive background in the healthcare technology sector, contributing to the company's growth and innovation.PathAI specializes in AI-powered pathology solutions designed to enhance the accuracy and efficiency of diagnostic processes in healthcare. Their core offerings leverage advanced machine learning algorithms to analyze pathology slides, assisting pathologists in identifying diseases such as cancer with higher precision. This technology is aimed at improving patient outcomes by enabling faster and more reliable diagnoses. PathAI's products are utilized primarily by hospitals, clinical laboratories, and biopharma companies, fostering collaborations to streamline the pathology workflow. These solutions are marketed primarily in the United States and Europe, where there is a significant demand for innovative diagnostic tools that enhance clinical decision-making.PathAI generates revenue through a subscription-based model, partnering with medical institutions and biopharma companies to integrate their AI solutions into existing pathology workflows. Clients typically engage in multi-year contracts that provide access to PathAI’s core technologies and ongoing support, fostering long-term relationships. The transactions are structured around specific service bundles, which may include software licenses, training, and consultation services. Pricing structures are established based on the scale of implementation, with larger healthcare systems potentially negotiating tailored agreements to suit their needs. PathAI’s flagship offerings, which include their proprietary diagnostic algorithms, play a crucial role in the revenue model as they are central to the value proposition presented to healthcare providers.In May 2021, PathAI, Inc. raised USD 165 mn in Series C funding, which will be utilized to expand and develop its product offerings. The company plans to launch new diagnostic tools aimed at enhancing pathology workflows and is targeting expansion into additional markets in North America and Europe by 2023. The funding will support the development of advanced algorithms and technologies that improve diagnostic capabilities.

## Funding rounds

- Series C, May 19, 2021, $165M — General Catalyst Partners, General Atlantic, Polaris Partners, Adage Capital Management, Tiger Global Management, Bristol-Myers Squibb Company, Kaiser Permanente Ventures, 8VC, Refactor Capital, KdT Ventures, D1 Capital Partners, BioSpring
- Series B, Nov 4, 2019, $15M — Merck Global Health Innovation Fund, Bristol-Myers Squibb Company
- Series B, Apr 17, 2019, $60M — General Catalyst Partners, General Atlantic
- Series A, Nov 2, 2017, $11M — General Catalyst Partners, DHVC, 8VC, Refactor Capital, Pillar, KdT Ventures

## Investors

- General Catalyst Partners (https://capitalatlas.ai/funds/general-catalyst-partners) — Series A, Series B, Series C
- DHVC (https://capitalatlas.ai/funds/dhvc) — Series A
- 8VC (https://capitalatlas.ai/funds/8vc) — Series A, Series C
- Refactor Capital (https://capitalatlas.ai/funds/refactor-capital) — Series A, Series C
- Pillar (https://capitalatlas.ai/funds/pillar) — Series A
- KdT Ventures (https://capitalatlas.ai/funds/kdt-ventures) — Series A, Series C
- General Atlantic (https://capitalatlas.ai/funds/general-atlantic) — Series B, Series C
- Merck Global Health Innovation Fund (https://capitalatlas.ai/funds/merck-global-health-innovation-fund) — Series B
- Bristol-Myers Squibb Company — Series B, Series C
- Polaris Partners (https://capitalatlas.ai/funds/polaris-partners) — Series C
- Adage Capital Management — Series C
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series C
- Kaiser Permanente Ventures (https://capitalatlas.ai/funds/kaiser-permanente-ventures) — Series C
- D1 Capital Partners (https://capitalatlas.ai/funds/d1-capital-partners) — Series C
- BioSpring (https://capitalatlas.ai/funds/biospring) — Series C