Segmed raised $2 Million in Seed funding in 2020, we wanted to learn more about the company and its plans. Here is our interview with Cailin Hardell, CEO at Segmed:
Q: What is Segmed? For those who have never heard of it, tell us something more?
A: At Segmed, we believe medical AI is the future. It will help people all over the world have access to higher quality healthcare, help doctors from being so overworked, and hopefully help keep them from making mistakes. In order for medical AI to become commonplace, tons and tons of clean and structured healthcare data is needed so that algorithms can be trained, tested, and verified like they will have to be in the real world. Segmed is helping make medical AI a reality for patients and doctors by providing a place for researchers and developers to get access to high quality, diverse data — instantly.
Q: Can you give us more insights into your platform?
A: Since Segmed’s inception we’ve been able to partner with world-class institutions all over the world and now we have data in our library from more than 50 locations. We’ve also been able to work with customers ranging from startups to Fortune 50 companies and get a good idea of their needs and desires. The Segmed Insight platform is the culmination of all of that.
Segmed Insight is the first platform of its kind. It’s a place for researchers and developers to come and sort through real-world data themselves to pick and choose what data to use for development. They can zero in on data from specific regions of the world, patient types, and medical conditions to build the exact datasets they need for training, testing, and validation.
Q: Can you describe a typical use case for your solution?
A: Right now, if a data scientist at a healthcare AI company had a new idea for a new algorithm they wouldn’t be able to test its feasibility very easily. They might have to make a new research agreement with an academic hospital who could provide some sample data, which could take months. If the idea worked and they wanted to pursue it, they would have to make many many more similar agreements to ensure that they had a diversity of data for training their algorithm. All of this would likely cost hundreds of thousands of dollars in time and expense, and on average takes about 18 months.
With Segmed Insight, that same developer could log into our platform and easily access data to test his or her idea. When he or she was ready to increase the scale, they would be able to access all the diversity of data they needed for development.
Q: You’ve recently raised $2,000,000 in Seed funding; can you tell us something more?
A: We’re thrilled to have Blumberg Capital, Nina Capital, and a bunch of strategic angel investors who believe in our mission to make healthcare better for everyone. We have already tripled our team size and are ready to hit the ground running in 2021.
Q: What are your plans for the first half of 2021?
A: We have an exciting announcement coming in Q1 and are excited to keep working with our existing data partners and customers as well as welcoming new ones to the Segmed family.