Oncology healthtech startup OncoLens secures $7.25m Series A funding

Oncology healthtech startup OncoLens secures $7.25m Series A funding

Published: 14-01-2021 11:24:00 | By: Pie Kamau | hits: 1765 | Tags:

OncoLens, a pioneer in tumor board and cancer treatment planning solutions, raised a $7.25 million Series A investment from BIP Capital, Martin Ventures, and SeedToB Capital, a new healthcare artificial intelligence (AI) venture fund launched by former Jvion Co-founders Shantanu Nigam and Ritesh Sharma.

OncoLens brings collaborative and personalized treatment planning to the cancer patient through data integration and decision support. It helps cancer programs and their multidisciplinary teams of specialists collaborate effectively while easily aggregating patient-specific data in a HIPAA-compliant manner across different EMR/clinical/genetics information systems. Patient-specific clinical trials at a facility or its affiliates, NCCN/ASCO guidelines, and the latest research are also automatically identified for each case to support the care team in making the best decision for the patient. 

Anju Mathew, CEO, OncoLens: "The new investment round will enable us to further capitalize on our position as a leader in the tumor board and cancer treatment planning software industry. We're excited to continue our work with BIP Capital and our new investors Martin Ventures and SeedToB Capital. Their combined deep expertise in healthcare and AI will help catalyze both our product development and market expansion efforts."

OncoLens is being used or implemented across several National Cancer Institute-designated Cancer Centers and some of the largest U.S. healthcare delivery networks. The company has received significant market recognition, with studies showcased in the Association of Community Cancer Centers' Oncology Journal, Journal of Registry Management, American Society of Clinical Oncology, and others.

Mark Buffington, Co-founder and CEO, BIP Capital: "We were an early investor in OncoLens and we're proud of its rapid growth and commitment to improving healthcare through technology. We're confident OncoLens will increasingly become part of the new norm in terms of how care providers collaborate efficiently and effectively with one another."

Devin Carty, CEO, Martin Ventures: "OncoLens is enabling better outcomes for cancer patients. The need for new, cutting-edge technologies has never been more important to ultimately winning the fight against cancer. We are excited to partner with Anju and the rest of the OncoLens team to extend and expand clinical trials, precision medicine, and multidisciplinary care to cancer patients."

Shantanu Nigam, Managing Partner, SeedToB Capital: "Tumor boards and care collaboration are within a space needing much innovation. OncoLens is stepping up and leading this charge with a very innovative approach under stellar leadership. We're extremely excited to welcome OncoLens to our portfolio."

The funding announcement comes during a week when many healthcare investors and innovators are attending the 39th Annual J.P. Morgan Health Care Conference virtually (social media hashtag #JPM21).  A focal area of the event is telemedicine and virtual collaboration tools to help healthcare providers better meet the needs of patients in a mobile and digitally connected world.

In 2020, OncoLens was named among the top 10 most innovative companies by the Technology Association of Georgia. OncoLens currently serves more than 8,000 cancer care providers across the country.