OncoLens, a leader in optimizing cancer treatment planning, announced it has raised $16 million in a Series B round co-led by BIP Capital and Cross Border Impact Ventures. Martin Ventures and SeedToB, existing investors in the company, also participated in this round.
ATLANTA, Oct. 24, 2024 /PRNewswire-PRWeb/ — The Series B funding comes on the heels of the company coming in at No. 1296 on the Inc 5000’s 2024 list of fastest growing privately held companies in America. The company serves national cancer institutes (NCIs), academic medical centers and community based integrated delivery networks (IDNs) with the mission of delivering timely, precision cancer care.
The company delivers on this mission through AI enabled clinical and workflow solutions across three pillars of multidisciplinary collaboration, data interoperability and AI driven informatics. OncoLens’ proprietary and unique oncology focused AI capabilities provide cancer centers the ability to extract key insights from structured or unstructured clinical, molecular and other lab data to find patients who might have missed treatment-defining diagnostics or therapies, in real time. OncoLens’ collaboration solutions can then be used to coordinate next steps on those patients to ensure action is taken in a timely and multidisciplinary manner. The focus on a comprehensive set of solutions delivering intelligence and efficiency has set the company apart.
“OncoLens’ focus on not just delivering insights but usability tools such as provider targeted alerts, continues to excite us along with their already impressive growth.”
OncoLens serves care providers internationally as well, having launched in the EMEA (Europe, Middle East and Africa) region in 2022. With the growth of its customer base, the company launched the OncoLens Research Network, partnering closely with life science commercial, real world evidence and clinical development teams to bring cutting edge research including trials and quality improvement initiatives to their centers. For life science partners, OncoLens brings a diverse, community focused network of centers to address real world evidence, diversity and inclusion in trials or finding patients with extremely rare genomic alterations or conditions.
“Healthcare is a prime target for AI-driven innovation. Paired with the appropriate solutions, there’s incredible potential for AI to deliver useful and actionable results,” said Mark Buffington, Managing Director and CEO of BIP Capital. “We’re excited about how OncoLens continues to build impressive growth by delivering groundbreaking insights alongside innovative and AI-enabled usability tools like provider-targeted alerts.”
“We’re excited by the growth of OncoLens’ network of domestic and international customers. These cancer centers and lifescience companies alike are closing the current disparities in care with the help of the company’s cutting edge solutions.” says Donna Parr, Managing Partner at Cross Border Impact Ventures.
“The past few years have been a true partnership with our provider and lifescience customers, working closely together to ensure we are able to deliver on the promise of the right treatment at the right time for every cancer patient, whether that patient is a needle in the haystack with an extremely rare genetic alteration or was one among too many that got missed for a clinical trial they were eligible for,” says Anju Mathew, CEO of OncoLens. “We have a bold vision to impact cancer care and excited to continue to deliver to that vision.”
About BIP Capital
BIP Capital is recognized as one of the most active venture investors in the Southeast, serving entrepreneurs, investors, and operators to grow the emerging company ecosystem. It applies experience and process to make investment decisions and operational recommendations, allowing its portfolio companies to achieve and stay on a glide path of growth. Areas of focus include Enterprise SaaS, Healthcare IT, Digital Media, Dev Tools, and MarTech.
About Cross Border Impact Ventures (CBIV)
CBIV is an impact venture capital firm on a mission to revolutionize venture capital investing in health technology. Our firm invests in world-class companies that create better health technologies benefiting women, children and adolescents inclusively and globally. We target venture returns for our investors and empower our portfolio companies to reach beyond their primary markets in the United States and Europe to reach more vulnerable populations in developing economies. We work collaboratively with the CEOs of our portfolio companies to enable commercial success, promote gender and health access equality with creative approaches tailored to local contexts.
About OncoLens
OncoLens is a leading provider of digital health solutions designed to optimize cancer treatment planning. Serving more than 225 cancer centers in the U.S. and internationally, OncoLens also collaborates closely with pharmaceutical and diagnostic companies through the OncoLens Research Network. This collaboration bridges the gap between cancer centers and industry enabling the right treatment at the right time for patients. For more information on OncoLens, please visit www.oncolens.com. Follow us on X and LinkedIn.
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