Proscia, a company developing digital and AI-based pathology software, has raised $50 million in a Series C funding round to expand the adoption of its Concentriq platform. The new investment brings the company’s total funding to $130 million as demand grows for more efficient diagnostic tools in oncology and other disease areas.
[Image courtesy of Proscia]
Pathology — the analysis of tissue samples that underpins most cancer diagnoses — has been slower to adopt digital and AI technologies than other areas of medicine, even as diagnostic workloads increase and workforce shortages persist. While digital pathology has been gaining ground in recent years, it still lags behind fields like radiology in digitization and automation.
Proscia is one of several companies aiming to modernize this space. Others include Paige, PathAI, and Ibex Medical Analytics, which have developed AI models for cancer detection and decision support. Some, like Paige, have received regulatory approval for specific clinical applications, while others work primarily in research and pharmaceutical development.
Proscia’s approach centers on Concentriq, a software platform that supports clinical diagnostics and life sciences workflows. According to the company, Concentriq is used by 16 of the top 20 global pharmaceutical companies and is on track to process over 22,000 patient cases daily.
The platform enables users to digitize pathology slides and apply AI to aid in biomarker discovery, clinical trial analysis, and diagnostic interpretation tasks. Proscia says the new funding will support deeper integration of AI into its platform, expand commercial operations, and enhance collaborations with industry partners such as Agilent Technologies and Siemens Healthineers.
The company is also investing in tools that support algorithm development and deployment, such as Concentriq Embeddings — a foundation model feature it says can speed up AI development by a factor of 13. However, those figures have not been independently validated.
Investors cited Proscia’s dual focus on diagnostics and pharma applications as a differentiator in a crowded field. “We’ve had a longstanding interest in AI pathology, and Proscia’s platform approach and customer traction position it well,” said Scott Barclay, Managing Director at Insight Partners.
Analysts agree the sector is poised for continued growth.
“Adoption of digital pathology and AI is creating an opportunity for a more connected and data-driven healthcare ecosystem,” said Katie Maloney, a partner at DeciBio, a healthcare strategy and market intelligence firm. “This shift is enabling precision medicine by making breakthroughs more technologically achievable, commercially viable, and clinically impactful for patients.”
