Figure 1 announces US $10M Series B financing

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By Ted Liu

Figure 1, the knowledge-sharing platform for healthcare professionals, has announced the closing of a US $10 million Series B led by Kensington Capital Partners with participation of Samsung NEXT Ventures, John Hancock/Manulife, Hedgewood, WTI and existing investors, Union Square Ventures, Rho Canada Ventures, Version One Ventures, and private investors.

The financing closed in two tranches with first tranche closed in January 2017.

“Figure 1 is the largest crowd-sourced medical platform in the world,” said Amit Garg, Principal at Samsung NEXT Ventures. “We look for healthtech startups that use software and services to improve all our lives. Figure 1 does that by allowing healthcare professionals everywhere to share and collaborate with each other, leading to better outcomes.”

“Every morning we wake up with the goal of democratizing medical knowledge in order to help save lives,” said Gregory Levey, Figure 1’s CEO. “We are thrilled to be partnering with investors who understand why we come to work. Using these resources, the coming years will see Figure 1 integrate new technologies in order to completely transform itself — bolstering the already astounding capabilities of the network. We are just getting started.”

LaBarge Weinstein LLP is the legal counsel to Figure 1.

Union Square Ventures led Figure 1’s US $9 million Series A and A-1 closed in 2014 and 2015 respectively. Version One Ventures and Rho Canada Ventures co-led Figure 1’s seed round in the fall of 2013. Figure 1’s Series B is priced at [mepr-active rule=”374″ ifallowed=”hide”]##subscriber ONLY content##[/mepr-active][mepr-active rule=”374″]21.5[/mepr-active]% over Series A-1.

photo credit: Figure 1