Total of $182 million raised in 2021 including a $30 million Series A round that closed in August
Series B round co-led by leading global investment firms Insight Partners and Clearlake Capital, with participation from existing investors
Funding will accelerate application of cutting-edge computational technology tools that are designed to transform gastroenterology care for patients
Iterative Scopes, a pioneer in the development of precision-based gastrointestinal (GI) disease technologies and software, announced today that it has raised $150 million in Series B financing to accelerate development of its core algorithmic innovations that are designed to transform gastroenterology care for patients. The round was co-led by Insight Partners and Clearlake Capital Group, L.P. (together with certain of its affiliates, “Clearlake”), as well as by returning investors Obvious Ventures, Johnson and Johnson Innovation-JJDC Inc., Eli Lilly, Breyer Capital and other industry and financial leaders.
The latest financing comes shortly after the company raised $30 million in a Series A round in August 2021 which totals to $182M raised in 2021, reflecting investors’ confidence in Iterative Scopes’ strategy as it gains traction as the emerging market leader in AI-driven precision gastroenterology, with a focus on inflammatory bowel disease (IBD) and colorectal cancer prevention.
“This robust financing comes on the back of an incredibly successful year at Iterative Scopes, reflecting the strength of our technology, team and strategic partnerships. With this investment round, we are relentless in our drive towards narrowing disparities in patient outcomes through the use of artificial intelligence, starting with inflammatory bowel disease and colorectal cancer,” said Iterative Scopes Founder and CEO Jonathan Ng. “The network and support of top tier global investors like Insight Partners and Clearlake Capital alongside our existing investors like Obvious Ventures, JJDC and Eli Lilly will serve to power our progress towards bringing the most advanced computation technology solutions to a field that has significant unmet need.”