PathCentral Raises $10M in Series B Financing

PathCentral, an Irvine, California-based provider of a fully integrated, web-based enterprise software platform designed specifically for community pathologists, has raised $10m in Series B financing.

The proceeds will be used to support the company’s growth initiatives, continue to enhance its web-based laboratory information system (LIS), deploy a field sales force, and build out its cancer diagnostics laboratory.

The round was co-ed by Okapi Venture Capital, Arboretum Ventures, and Baird Venture Partners.

Created by a team of pathologists and industry executives, PathCentral’s solution integrates all aspects of a pathology practice’s business, including ordering (accessioning), barcode-based laboratory workflow management and specimen tracking, transcription, test send-outs, professional consultations, diagnosis, reporting, billing and financial analysis.

In conjunction with the funding, Sharon Stevenson, DVM PhD, Co-Founder and Managing Director of Okapi Venture Capital, will join the PathCentral board of directors, along with Tim Petersen, Managing Director of Arboretum Ventures, and Michael Liang, PhD, Partner of Baird Venture Partners.

02/11/2010