The transaction will fund expansion of the healthcare software company through an innovative funding structure
CHICAGO, Aug. 21, 2024 /PRNewswire-PRWeb/ — CancerIQ, a best-in-class precision health platform that empowers healthcare providers to personalize cancer prevention and early detection for their patients, has landed a growth funding package from Decathlon Capital Partners. Details of the transaction were not disclosed.
“We’re grateful to be working with such a flexible payment structure where we can repay the investment through our future revenues.” – Ben Bowman, CancerIQ CFO
The growth funding will be used for continued investment in platform development, introduction of new offerings, and support of the company’s overall growth with health system and hospital partnerships. The easy-to-use digital platform equips providers in any setting to identify patients’ lifetime and hereditary risk, use the most up-to-date guidance to improve uptake of genetic testing, and increase adherence to personalize cancer care plans — all integrated into EHR workflows.
Feyi Olopade Ayodele, Co-Founder and Chief Executive Officer of CancerIQ, said the level of personalization to the platform is what sets CancerIQ apart from its competitors. “The CancerIQ platform is designed to help providers ensure every patient receives the necessary care to manage their individual cancer risk — from prevention and early detection to treatment and survivorship,” Ayodele said. “It’s time to abandon the one-size-fits-all approach to cancer prevention and ensure people get the care they need to stay ahead of cancer.”
Ben Bowman, Chief Financial Officer of CancerIQ, said CancerIQ will not have to give up any equity, ownership, or control of the company in exchange for the capital from Decathlon Capital Partners. “We’re grateful to be working with such a flexible payment structure where we can repay the investment through our future revenues,” Bowman said.
John Borchers, Managing Director of Decathlon Capital Partners, said CancerIQ is good for both patients and healthcare providers. “This platform really is a win-win,” Borchers said. “Not only can patients be confident that they are being put on the best cancer prevention or early detection plan for them, but CancerIQ also assists the healthcare provider in managing their business by tracking revenue impact and identifying opportunities to grow patient impact.”
About CancerIQ
CancerIQ is the only cancer-focused precision health platform that empowers healthcare providers to detect cancer earlier and prevent it altogether across all patient populations. Integrated directly into real-time EHR workflows, CancerIQ makes it easy to gather comprehensive patient data, automatically map it to the latest evidence-based guidelines, and expand access to personalized care plans, cutting-edge clinical solutions, and genomic innovations. CancerIQ co-founder and CEO Feyi Ayodele was recently named a Modern Healthcare Innovator for pioneering this transformative approach to cancer prevention, early detection and treatment. Learn more at canceriq.com, follow CancerIQ on X or LinkedIn.
About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at http://www.decathloncapital.com.
Media Contact
Press, CancerIQ, (312) 761-3360, info@cancer-iq.com, https://www.canceriq.com/
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SOURCE CancerIQ
