Aperio Technologies, Inc., (Aperio), a global leader in digital pathology for the healthcare and life sciences industry, announced recently the completion of a $20 million Series C financing. The round was led by HLM Venture Partners, a Boston and San Francisco-based healthcare venture capital firm. Joining HLM in the Series C funding are existing investors Galen Partners and Advanced Technology Ventures, and new investors Acadia Woods Partners and BlackRock Alternative Advisors.

Aperio further announced that the company will use the new capital to accelerate clinical market development, expand sales and operations, and develop new products in support of its patented digital pathology system, which includes its linear array-based ScanScope^® slide scanning systems, Spectrum™ information management software, image analysis applications and professional services.

With this equity financing round, Martin R. Felsenthal, a partner at HLM Venture Partners, joins the Aperio board of directors. Regarding the announcement, Mr. Felsenthal said, “We believe that digital pathology has enormous potential to improve the quality and efficiency of pathology services. We are impressed with the considerable progress Aperio has made in biopharma and clinical applications, and believe that this additional funding will allow the company to expand its ability to address the needs of clinical customers, and to further strengthen its leadership position in this exciting market.”

Aperio’s CEO, Dirk Soenksen, said, “We are delighted to have Marty Felsenthal, a seasoned healthcare venture capitalist, join our board or directors. Mr. Felsenthal’s prior experience in healthcare services and recurring business models will be extremely helpful as we consider strategies for maximizing shareholder value.”

Jeff Samberg, managing director of Acadia Woods Partners, said, “As an investor with prior successful investments in life science companies, we are excited about the compelling opportunities Aperio is pursuing in digital pathology.” Kevin Nee, managing director of BlackRock Alternative Advisors added, “It’s rare to find such a large potential market opportunity with only one clear leader. We are very excited about collaborating with the Aperio management team.”

Aperio is digitizing pathology. We provide systems and services for digital pathology, which is an environment for the management and interpretation of pathology information that originates with the digitization of a glass slide. Aperio’s award-winning ScanScope^® slide scanning systems and Spectrum^™ digital pathology information management software improve the efficiency and quality of pathology services for pathologists and other professionals. Applications include education, remote viewing, archival and retrieval, basic research, and image analysis. Aperio's products are FDA cleared for specific clinical applications, and are intended for research and education use for other applications. 

For more information, please visit www.aperio.com