Healthcare photo sharing app Figure 1 raised $2 million in seed funding. The round was co-led by Version One Ventures and Rho Canada Ventures, a division of New York-based Rho Capital Partners and also included the Investment Accelerator Fund, Ryerson Futures, Accelerated Medical Ventures Founder Zen Chu, and Rypple Cofounder Daniel Debow.
Figure 1 will use the money to improve their product and expand their community.
"Right now we are focused on making performance better and improving search and categorization of images in Figure 1," Communications Coordinator Annie Williams told MobiHealthNews in an email. "We’ve had a lot of interest in Android and desktop versions from users, and this is something we are prioritizing. We are also interested in building out user profiles and developing other features that our users have asked for."
Figure 1 allows medical professionals to take and share photos with other medical professionals securely. The app also has a face blocking feature to automatically block faces after the picture of the patient is uploaded. For each photo, the provider can choose whether to share it publicly or privately, and in a recent update the app added a categorization tool which allows providers to search for images by anatomy or specialty.
In the first week after releasing the app, over 2,000 healthcare professionals signed up, Williams said, and since then the app has been steadily growing its user base.
Recently, the app added integrations with Doximity and Dropbox. Physician network Doximity makes it easier for doctors to create a verified log-in within the app and Dropbox was added to help with uploading high resolution files.
Williams said the app's metric for success is the different things Figure 1 can offer to users for their continuing medical education and as part of their existing workflow.
"As for business model, we’re fortunate enough to have patient investors who want us to concentrate on growing the community and improving the product," Williams said. "And we are confident that when we have done so there will be several different monetization options for us."