Photo sharing app start-up Figure 1 has raised $2 million in seed funding. The funding round was co-led by Version One Ventures and Rho Canada Ventures, a division of New York-based Rho Capital Partners.
Figure 1, the startup behind the popular healthcare
photo sharing app of the same name, announced today that it has raised $2 million in seed
funding. The funding round was co-led by Version One Ventures and Rho Canada Ventures, a
division of New York-based Rho Capital Partners. It also included the Investment Accelerator
Fund, Ryerson Futures, and a number of prominent angel investors, such as Zen Chu (Founder
of Accelerated Medical Ventures and Faculty Director at MIT’s HackingMedicine) and Daniel
Debow (Co-Founder of Rypple, acquired by Salesforce.com).
Figure 1 is building the world’s largest free repository of medical images, easily searchable and
available to the medical community. It is a mobile, crowdsourced platform that allows healthcare
professionals to upload and tag images, use each other’s images for information, and rate
images for accuracy or clinical representativeness. All of this is accomplished in line with
government and hospital privacy and ethics requirements. Figure 1 was founded in early 2013 by
Joshua Landy, a critical care physician, Richard Penner, a mobile developer, and Gregory Levey,
“We’ve just scratched the surface of what we can offer healthcare professionals,” explained Dr.
Landy. “We’re excited about having attracted world class investors to our company and we are
looking forward to using these funds to improve our product and grow our community.”
“The digital health category is experiencing unprecedented disruption today and we are pleased
to be partnering with the founders at Figure 1,” said Roger Chabra, Partner at Rho Canada
Ventures. “The Figure 1 platform is providing the medical community with the perfect solution for
collaborating and communicating around images, which are key components of the patient care
and medical education process.”
Figure 1 was launched in North America this summer and quickly reached the top spot in the
medical category on both the US and Canadian App Stores. It expanded to the United Kingdom
earlier this Fall, and is already used by tens of thousands healthcare professionals in the three
countries. Figure 1 also recently introduced Doximity integration allowing the 220,000 users of
Doximity, the professional network for physicians, to log in using their Doximity credentials and
become automatically verified on Figure 1.
Figure 1 is currently available on iPhone and iPad and will be expanding to Desktop and Android
in the coming months. The company is looking to hire talented developers