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Enlitic closes $25 million in series B-1 funding round

November 2019 by Patrick LEBRETON

New Equity Capital Fuels Momentum as Company Sets its Sights on Market Deployment in 2020, Lawrence Gozlan Joins Board of Directors

Enlitic, Inc.announce the completion of $25 million in Series B-1 financing. Thorney Investment Group, one of Australia’s leading investment groups, led the round and Enlitic’s existing investors – Capitol Health, Marubeni Corporation, Amplify Partners, The Jagen Group, and Regal Funds Management – also participated. Enlitic will use the proceeds for the next phase build-out of its comprehensive AI software platform and to further grow its global footprint with major regional partners in the healthcare industry, paving the way for market deployment in 2020. The company will debut its new platform in December at RSNA 2019.

Enlitic also announced the appointment of Lawrence Gozlan of The Jagen Group to the company’s board of directors, joining Sunil Dhaliwal of Amplify partners, Andrew Harrison of Capitol Health, Kevin Lyman, Enlitic’s Chief Executive Officer, and Michael Sistenich, Enlitic’s Chairman of the Board.

In building the company’s best-in-class platform, Enlitic’s team of practicing radiologists, data scientists, and software engineers analyze millions of clinical cases from global healthcare partners to improve diagnostic accuracy, speed, and patient outcomes, as well as to accelerate pharmaceutical research and drug trials. Since undergoing an executive reorganization in June of 2018 that included the appointment of Kevin Lyman as Chief Executive Officer, Anthony Upton as Chief Medical Officer, and Michael Sistenich as Chairman of the Board, Enlitic has experienced unprecedented growth that includes the following achievements:

- In April, Enlitic announced that it had completed its Series B funding with a $15 million raise.

- Also, in April, the company signed a significant joint development agreement with Marubeni Corporation and global imaging company, Konica-Minolta, that streamlines Enlitic’s expansion efforts in the Asian market.

- In August, Enlitic announced that it had rounded out its core leadership team by appointing a Chief Financial Officer and heads of Research & Development, Business Development, Regulatory & Quality Assurance, Creative, and Communications. The company also opened a new office in New York City.

- In October, the company announced a partnership with Select Healthcare Solutions, a healthcare technology and services provider that owns and operates cancer centers across the U.S. The partnership provides Enlitic with high-quality data to accelerate its research into the early detection of most forms of cancer and will help drive the company’s development of best-in-class workflow solutions for oncology centers around the world.

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