Canopy, which is improving the cancer treatment process, reports this morning that it has completed a $ 13 million (Round A) round, led by the GSR Ventures fund, which was joined by other investors, including: Samsung Next, the UpWest fund, and more. The current fundraising funds will be used by the company to further develop the company’s technology, marketing, and recruit 40 additional employees for the company’s development center in Tel Aviv.
Canopy was founded in 2018 by Lavi Kabitkowski, who currently serves as its CEO. The company’s management is located in New York, and its development center is located in the Sharona Tower, Tel Aviv.
According to the company, 1.7 million cancer patients are added each year in the United States alone. What happened, billing systems to charge the insurance, but lacked a system to manage the care itself and the day-to-day work of hundreds of employees in each clinic.
Canopy’s product, based on artificial intelligence, bridges this gap by monitoring patients, creating continuity in the treatment process between visits, as well as automating many tasks and directing the medical staff to focus on treating patients themselves. The company’s technology also includes an app that monitors patients on a regular basis and receives real-time indications from them about their condition – side effects, pain, reactions to medications and more. On the other hand, the nurses and doctors receive the current information about the patients and their condition within an organized dashboard and can effectively manage their care, even remotely.
Today, about 6 oncology centers in the United States are used on the Canopy platform. In each of these centers, hundreds of nurses, doctors and staff use Canopy as a central tool for supporting their patients.
Kabitkowski emphasizes the importance of the system in the treatment of cancer patients, a disease characterized by high variability among patients: “There are currently about 30,000 protocols of treatment for various cancers. Using our decision support system, a clinic nurse can understand within three minutes Canopy is given in an emergency or can be treated by phone.Although cancer is one of the most common diseases in the world, the technology has lagged behind both the patient and the treating staff.Our product provides a holistic and complete solution to all aspects of treatment and allows regular contact with patients, monitoring their condition, assistance “As a result, it leads to a decrease in hospitalizations, a steady improvement of patients in the treatment process, as well as patient survival and saving lives.”
“The monitoring system learns the patients, and in addition relies on a great deal of historical information collected in the medical file, thus identifying life-threatening effects and alerting the treating staff to this,” the CEO adds.
Canopy’s monitoring product, which monitors patients and floods important issues in real time, significantly reduces situations where patients are forced to discontinue treatment due to side effects and also reduces the number of urgent emergency visits and hospitalizations, thanks to early detection and treatment of problems before they worsen.
“We are advancing in expansion across the United States, as well as the increasing assimilation of artificial intelligence to complete the transition from early detection to the pre-prevention of serious side effects during treatment.”
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