Teledermatology company Iagnosis has raised the first tranche in what it hopes will be a $5 million fundraise to support the launch of an expanded mobile platform to share rashes and problem skin images with dermatologists.
The company’s form D filing on the Securities and Exchange Commission’s website shows it has raised about $1.25 million so far.
In a phone interview with CEO David Zynn, he said the company plans to launch its DermatologistsOnCall app for mobile devices on IoS and Android networks May 1.
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He said it has established a presence in 18 states so far. It added Virginia, Delaware and New York since the start of the year.
Among the company’s plans for the funding are to add six to 10 people across account management, product development and back office departments. It hopes to meet its fundraising target within the next six months. He said the funding comes from a combination of returning and new angel investors.
Zynn said it takes an average of 12 hours from the time users submit their medical information with up to nine pictures of the problem rash or spot to a text or email alert that their diagnosis is ready. Patients may get an e-prescription or in a very few cases, they will be asked to come for an in-person appointment for a closer exam. He said 85 percent to 88 percent of people who use the service are fully diagnosed with acne topping the list of most commonly diagnosed problems.
Although it offers a private service for $59, it inked a deal to give Highmark members access to the service for $45. Zynn added that it is open to other strategic collaborations.
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