Spokane-based Gestalt Diagnostics has raised $2 million in additional funding that will go toward hiring more employees and expanding functionality of its products.
The Seed II funding round, which closed in March, included investments from KickStart Funds, the Morningstar Foundation, Inland Imaging Investments, Tacoma Venture Fund and Cowles Ventures.
Cowles Ventures is a subsidiary of Cowles Co., which publishes The Spokesman-Review.
The new round of funding will help the company to expand its commercial and development teams to work on future projects as well as addi more capabilities to its digital and lab services products, Gestalt Diagnostics CEO Dan Roark said.
The company has 18 employees and plans to hire five more , Roark said.
Gestalt Diagnostics, headquartered in the McKinstry Innovation Center at 850 E. Spokane Falls Blvd., builds cloud-based software that replaces microscopes, paper and manual workflows in pathology laboratories for disease diagnosis.
Last month, New Jersey-based BioReference Laboratories Inc. selected the Spokane-based company’s digital software platform, PathFlow, to support its pathology business.
BioReference is one of the five largest reference laboratories in the world, Roark said.
“We are honored they picked us and we know they will help drive innovation in our products,” Roark said. “We are very excited to have that opportunity.”
Under the agreement, Gestalt Diagnostics partnered with Leica Biosystems, which supplies whole-slide imaging scanners and MindPeak, which provides artificial intelligence algorithms within the PathFlow software.
Last year, Gestalt Diagnostics was named a Top 10 Solution Provider for workflow applications by CIO Applications.
CIO Applications publishes an annual listing of companies at the forefront of providing workflow solutions to transform businesses.
Gestalt Diagnostics has raised $6 million in investments since 2017 from angel and venture capital funds. The company also received a $400,000 U.S. Small Business Administration loan from Ignite Northwest, which funds and mentors entrepreneurs and growing companies in the Spokane region.
Gestalt Diagnostics has offices in Boise, Idaho, and Putnam, Connecticut.
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