San Carlos, California- and Waterloo, Ontario-based digital health company Onc.AI has secured US$6 million in financing. Blue Venture Fund and Accomplice led the round, with participation from KdT Ventures, Digitalis Ventures and angel investors. Onc.AI will use the funds raised to develop a precision oncology care management platform.
SAN CARLOS, Calif. & WATERLOO, Canada–(BUSINESS WIRE)–Onc.AI, a digital health company developing a novel oncology care management solution, announced today it has closed a $6M financing round co-led by Blue Venture Fund and Accomplice, with participation from KdT Ventures, Digitalis Ventures and prominent angel investors, including: The Operator Network (Frederic Kerrest, Executive Vice Chairman, COO and Co-founder, Okta), Jonathan Fleming (Chairman of Onc.AI and multiple VC-backed life sciences companies), Dr. Chen Fong (Co-Chair of the Global Strategy Board at Creative Destruction Lab), and Dr. Stanley Marks (Chairman of UPMC Hillman Cancer Center).
“Onc.AI is developing an innovative comprehensive approach to oncology diagnostics which can help clinicians attain the full potential of precision oncology,” said Thomas Hawes, Managing Director of the Blue Venture Fund. “We believe Onc.AI can become the standard in oncology decision support and we are excited to partner with the company’s management team alongside Accomplice and a stellar investment syndicate.”
“Actionable insights in oncology treatment derived through the power of Deep Learning is a compelling vision,” said John Capodilupo, Co-founder/CTO of WHOOP and Venture Partner at Accomplice. “The Onc.AI team has an opportunity to transform oncology care and we’re thrilled to support them.”
Onc.AI’s seasoned founding team includes operating executives, expert technologists and repeat successful entrepreneurs from market leaders in healthcare, AI, autonomous-driving and oncology. The company’s Advisory Board comprises leading researchers and medical oncologists, including Dr. Hugo Aerts, Director of the AI in Medicine Program at Harvard/BWH and Dr. George Simon, Executive Director of the Moffitt-Advent joint Clinical Research Unit.
“With this round of funding from leading digital health and deep science investors, Onc.AI will expand its team in the Bay area and Waterloo region, and execute on its operating plan with the objective of demonstrating the capabilities of our clinical solutions at leading cancer centers and health systems,” said Akshay Nanduri, Co-founder and CEO of Onc.AI.
Onc.AI is a privately held digital health company developing a precision oncology care management platform that aims to transform clinical decision making. Onc.AI is backed by premier investment firms The Blue Venture Fund, Accomplice, KdT Ventures and Digitalis Ventures as well as prominent individual investors who are leaders in Enterprise SaaS, AI/drug-discovery, precision/medical oncology, and radiology.
About The Blue Venture Fund
The Blue Venture Fund (BlueCross BlueShield Venture Partners) is a corporate venture fund program to which thirty-six Blue Cross and Blue Shield (BCBS) companies have committed over $800 million across four Funds. The Funds invest in promising emerging companies of strategic relevance to Blue Cross and Blue Shield companies and provide access to its portfolio to deploy innovation at scale. The Blue Venture Fund is sponsored by the Blue Cross Blue Shield Association (BCBSA), an association of independent Blue Cross and Blue Shield companies. For more information, visit www.bcbsvp.com.
Accomplice is a seed-led venture capital firm that embraces risk. They have been part of the origination story of companies that matter, including AngelList, Carbon Black, DraftKings, Integral Ad Science, Hopper, PillPack, Plastiq, Recorded Future, Skillz, Veracode, WHOOP and Zoopla. Accomplice has pioneered a community approach through platforms like Spearhead, BOSS, Rev, and TUGG. Based in Boston. To learn more about Accomplice, visit https://accomplice.co/