Surgical Intelligence creator Theator has secured $24m in an extension of its Series A funding round following the initial $15.5m Series A round.
The initial round was announced in February 2021, increasing the round’s total to $39.5m.
The expanded investment round was once again led by Insight Partners with assistance from existing investors Blumberg Capital, Mayo Clinic, NFX, StageOne Ventures, iAngels, and former Netflix chief product officer Neil Hunt.
Ariel Cohen, CEO and co-founder of TripActions, and other new growth investors including iCON also participated in the round.
The funds will be utilised to expedite the deployment of Theator’s Surgical Intelligence Platform in healthcare systems across North America and to continue the company’s commercial expansion.
The series extension comes after commercial traction, notably earlier this year when Theator expanded into urology.
Theator’s Surgical Intelligence platform institutionalises the routine collection of surgical video data with the use of artificial intelligence (AI) and computer vision.
Surgical intelligence eventually raises the bar for patient care by producing practical insights that improve patient outcomes.
The firm said that with over 30K hours of film and almost a billion processed frames, Theator’s surgical video and data archive is unmatched.
Theator CEO and co-founder Dr Tamir Wolf said: “This funding is a strong vote of confidence in our vision, team, and the field of Surgical Intelligence as the cornerstone of the future of surgery.
“Surgical Intelligence is already demonstrating significant improvement in surgical quality and safety.
“It’s thrilling to hear about the impact our partners and collaborators have achieved thus far, and we look forward to this latest investment advancing our mission to transform surgery and alleviate variability and disparity in surgical care worldwide.”
The company has worked with Mayo Clinic and partnered with the Canadian Association of General Surgeons (CAGS) bringing prominence to the list of medical institutions and surgical societies using Surgical Intelligence.
