Pathway, a clinical decision support platform, announced it raised $1.3 million to scale its clinical decision support platform. Investors include Panache Ventures, Amplify Capital, Desjardins Venture Capital, BoxOne Ventures, and Formentera Capital.
The funding round also included participation from veteran healthcare entrepreneurs Dr. Josh Landy (ICU physician and co-founder of Figure 1), Cherif Habib (CEO of Dialogue), emergency physician entrepreneurs – Dr. Julien Martel, Dr. Louis Charbonneau, and Dr. Alexandre Tratch, co-founders of DXA, an AI-powered medical triage startup acquired by Dialogue in 2018.
According to Pathway, its clinical decision support tool helps drive evidence-based medicine into clinical practice with modern decision support technology and structured data.
“The complexity of providing evidence-based care is increasing along with the accelerating pace of information generation and consensus development in the medical community,” stated Pathway Medical co-founder and Chief Medical Officer Dr. Louis Mullie.
“Clinical tools that were built from the digitization of the medical textbook are ill-equipped to keep physicians informed and up to date today. This contributes to the fact that physicians have the highest rate of burnout, depression, and suicide of any profession. Healthcare professionals love Pathway because we understand their needs and reduce cognitive load by delivering concise, quality clinical guidance in an efficient, easy manner.”
“This investment will help us scale our operations and expand the functionality of our software to support additional use cases. Most notably, we’re augmenting our platform to help hospitals disseminate their own guidelines and pathways more efficiently,” said Pathway co-founder and CEO Jonathan Hershon St-Jean.
Venture capital (VC) funding into Clinical Decision Support software companies doubled to $1.1 billion in the First Half (1H) of 2021, compared to $545 million in 1H 2020, according to the latest Mercom Digital Health Funding and M&A Report. PathAI, a provider of AI-powered clinical decision support tools for pathology laboratories, announced the closing of its $165 million Series C financing round.