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§ Private Profile · Tel Aviv, Israel
AI-powered cancer diagnostics for pathology, analyzing biopsy images to improve accuracy and efficiency.
Ibex Medical Analytics develops AI-powered solutions for cancer diagnostics in pathology, leveraging its Galen platform to analyze biopsy images for cancer detection, grading, and error flagging, thereby streamlining workflows across global healthcare systems. The company has secured over $100 million in total funding, including a $55 million Series C round led by 83North, with additional investment from firms like Octopus Ventures, aMoon, and Dell Technologies Capital. Its technology is widely deployed, serving customers such as Maccabi Healthcare Services in Israel, the largest pathology network in France, and LD Path in the UK, which supports 24 NHS trusts. Pathologists utilizing Ibex solutions have demonstrated up to 40% increased productivity and improved diagnostic accuracy, addressing critical challenges like rising cancer rates and pathologist shortages. Ibex Medical Analytics was founded in 2016 by Joseph Mossel and Chaim Linhart.
Ibex Medical Analytics has raised $114.0M across 4 funding rounds.
Ibex Medical Analytics has raised $114.0M in total across 4 funding rounds.
Ibex Medical Analytics has raised $114.0M in total across 4 funding rounds.
Ibex Medical Analytics's investors include 83North, 500 Global, AppWorks, Browder Capital, Hoxton Ventures, Lightbank, Octopus Ventures, OurCrowd, Maroof Ahmed, Yusuf Sherwani, Dell Technologies Capital, Planven Entrepreneur Ventures.
Ibex Medical Analytics has raised $114.0M across 4 funding rounds. Most recently, it raised $55.0M Series C in September 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 1, 2023 | $55M Series C | 83North | 500 Global, AppWorks, Browder Capital, Hoxton Ventures, Lightbank, Octopus Ventures, OurCrowd, Maroof Ahmed, Yusuf Sherwani, Dell Technologies Capital, Planven Entrepreneur Ventures, Sienna Venture Capital | Announced |
| Nov 10, 2022 | $10M Venture Round | Aris Constantinides | 83North, Dell Technologies Capital, Octopus Ventures, Planven Entrepreneur Ventures | Announced |
| Mar 1, 2021 | $38M Series B | 83North, Octopus Ventures | 500 Global, AppWorks, Browder Capital, Hoxton Ventures, Lightbank, OurCrowd, Maroof Ahmed, Yusuf Sherwani, Dell Technologies Capital, Planven Entrepreneur Ventures | Announced |
| Mar 1, 2019 | $11M Series A | — | 83North, OurCrowd | Announced |
Ibex Medical Analytics is a Tel Aviv-based technology company founded in 2016 that develops AI-powered diagnostic solutions for pathology, focusing on cancer detection in breast, prostate, and gastric tissues. Its flagship platform, the first and most widely deployed AI tool in pathology, assists pathologists in routine clinical workflows by improving diagnostic accuracy, reducing turnaround times, implementing quality control, and boosting productivity.[1][2][3][5] Ibex serves leading physicians, healthcare organizations, and diagnostic providers worldwide, addressing the core problem of ensuring accurate, timely, and personalized cancer diagnoses amid pathologist shortages and rising caseloads; it has demonstrated strong growth with a 178% surge in new customers, 157% increase in monthly patient cases processed, and $114M in total funding including a $55M Series C round.[1][2][5]
Ibex was co-founded in 2016 by Joseph Mossel (CEO) and Chaim Linhart, PhD (CTO), alongside key medical leadership like Chief Medical Officer Judith Sandbank, MD, with a mission to transform pathology through AI.[2][3] Emerging from Israel's strong medtech ecosystem, the idea stemmed from pathologists' need for tools to handle complex diagnostics more reliably; the company quickly gained traction as the first AI solution in routine clinical use for prostate biopsies and expanded to breast and gastric cancer.[2][3][5] Pivotal early moments include global deployments, regulatory milestones like IVDR certification for multiple solutions, and validations such as a Quest Diagnostics study, culminating in rapid customer growth and a $55M Series C led by 83NORTH in 2023.[1][2][5]
Ibex rides the AI-digital pathology wave, fueled by pathologist shortages, surging cancer caseloads, and the shift to computational diagnostics amid a tissue diagnostics market projected to grow significantly through 2035.[1][4] Timing is ideal post-2024 regulatory wins like IVDR, aligning with global adoption of AI in healthcare; market forces include rising demand for precision oncology, HER2 scoring accuracy, and workflow automation in labs facing high volumes.[1][4][5] Ibex influences the ecosystem by setting deployment standards, partnering with providers like Quest, and driving AI from research to routine use, accelerating industry-wide productivity gains and better outcomes.[1][3][5]
Ibex is poised for accelerated global expansion in 2025 and beyond, leveraging its Series C funding, new board addition Ann Costello, and certifications to dominate AI pathology with more indications and integrations.[1][3] Trends like AI regulatory harmonization, digital slide adoption, and biomarker-driven therapies will propel growth, potentially evolving Ibex into a comprehensive cancer diagnostics platform influencing lab standards worldwide. This builds on its present-day leadership, proving AI diagnostics are here to deliver precise cancer care at scale.[1][5]