Segmed Secures $10.4 Million Series A Funding, Led by iGan Partners and Advocate Health

Press Releases

Sep 03, 2024

The investment is a pivotal milestone allowing Segmed to further expand its medical imaging solutions for artificial intelligence development and real-world evidence

PALO ALTO, Calif., Sept. 3, 2024 /PRNewswire/ — Segmed, Inc., a leader in providing real-world imaging data for health innovation, has raised a $10.4 million Series A funding round. The oversubscribed round was led by iGan Partners and Advocate Health, with participation from Castellan Group, Engine Health Capital, Bold Brain Ventures, Fox Chase Cancer Center, and current investors including Y Combinator, Nina Capital, Nova Capital, Blumberg Capital, and Expeditions Fund. The current Series A round follows a financing by Flashpoint Growth Debt Fund received in 2023.

Since Segmed’s inception, it has been committed to unlocking diverse cohorts of imaging data to support AI development and further clinical research. We are excited to announce the next step in that journey. Segmed will use the new funding to further expand its footprint in the healthcare AI space as well as to bring medical imaging to the biopharmaceutical and life science world. Our data network of leading healthcare providers enables innovators to get access to heterogeneous and diverse de-identified imaging data that can be linked with other data types. Additionally, our technology allows clients to access, de-identify, standardize, and build cohorts of medical imaging data within their own environment.

“We are excited to partner with such a select group of health systems and healthcare technology investors to support Segmed as they continue to disrupt the healthcare industry with their innovative approach to real-world imaging data. Segmed’s platform has the potential to drive significant improvements in patient care and healthcare outcomes, and iGan stands ready to continue to support their dynamic growth and the significant impact they are poised to make on healthcare technology going forward,” said Sam Ifergan, managing partner at iGan Partners.

“Advocate Health is an industry leader in utilizing innovation to serve the health needs of individuals, families and communities,” said Emilie McKenna, managing director of strategic development and investment at Advocate Health. “We’re driven to advance the science of medicine. To that end, our team is dedicated to developing the most comprehensive provider-based research data set in the country. We look forward to supporting Segmed in the shared goal of unlocking imaging data to accelerate medical research.”

“We founded Segmed five years ago to improve patient outcomes by revolutionizing medical imaging research,” said Martin Willemink, CEO and co-founder at Segmed. “We are thrilled to have the continued support from investors like iGan Partners and Y Combinator, as well as the addition of clinical powerhouses like Advocate Health and Fox Chase Cancer Center. Their expertise and experience will be invaluable as we continue to develop cutting-edge solutions for the future.

“Segmed deeply appreciates the support and confidence demonstrated by these significant investments and strategic partnerships to reshape the landscape of medical imaging utilization, ultimately advancing health care,” he said.

About Segmed, Inc.
Segmed, Inc. collaborates with life-sciences, health care and technology firms to streamline access to medical imaging studies for advancing biopharmaceutical R&D, AI development and enhancing global health care initiatives. Segmed acquires, de-identifies, standardizes and subsequently provides medical imaging data to researchers and innovators in AI/ML and Real-World Imaging Data (RWiD) through its proprietary data platform. Before Segmed, acquiring imaging data for medical research was a time-consuming process that could take months, or even years. By partnering with thousands of health care locations and imaging clinics across five continents, researchers and AI developers can access the studies they need.

For more information about Segmed, visit www.segmed.ai or follow us on LinkedIn @segmed-ai.