Los Angeles, CA-based PictorLabs, a pioneering software company transforming histopathology with AI-powered virtual staining, has secured $30 million in Series B funding round led by global software investor Insight Partners, with continued participation from M Ventures, the venture capital arm of Merck KGaA, Darmstadt, Germany, which had previously led PictorLabs’ Series A round.
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The infusion of capital will enable PictorLabs to further advance its technology, expand its market reach, and accelerate the adoption of AI-driven virtual staining in clinical and research settings.
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“Securing this Series B funding is a testament to the transformative potential of our technology and the trust that our investors have in our vision,” said Yair Rivenson, CEO of PictorLabs. “With the support of Insight Partners and M Ventures, we are well-positioned to scale our operations, expand our team, and bring our revolutionary virtual staining technology to more histopathology labs, ultimately improving patient outcomes across the globe.”
From a single unstained tissue sample, PictorLabs’ proprietary platform can produce an unlimited number of virtual stains that are indistinguishable from analogous chemical stains. PictorLabs is developing products that replicate standard of care stains and is creating specialized virtual biomarker stains for indications in which there is a large demand for novel and accelerated diagnostic tests.
“By digitizing the staining process, PictorLabs will increase the speed, consistency, and quality of pathology reports, both for patient treatment and life science research,” said Scott Barclay, Managing Director at Insight Partners. “Insight is proud to back Yair and this deep technology team who are so dedicated to science, to producing validated data, and to positively impacting pathologists and patients.”
Bauke Anninga, Investment Director at M Ventures, added: “We are excited by PictorLabs’ progress and continue to be impressed by their differentiated virtual staining technology. We look forward to supporting PictorLabs through their next phase of growth.”
About PictorLabs
Founded in 2019 by Yair Rivenson and Aydogan Ozcan, PictorLabs is a digital pathology company developing an AI-powered virtual staining platform to revolutionize histopathology and accelerate clinical research with the goal of improving patient outcomes. Led by a team with deep expertise in bioengineering, artificial intelligence, and health-tech product development, the Company is reimagining existing histopathology workflows, accelerating clinical and diagnostic results, and improving process sustainability.
