DermaSensor Inc.

The only FDA-cleared AI diagnostic improving skin cancer detection for all clinicians

https://wefunder.com/dermasensor

Total raised on Wefunder: 1131376

Total investors: 166

Quick facts

  • First & only automated skin cancer detection tool cleared by the FDA for Primary Care Physicians
  • $1M contracted revenue at EOY 2025 from 3X device growth, $3M target for EOY 2026
  • >40K lesions scanned, 9 published clinical studies; device cuts physicians missed cancers by 50-68%
  • $20M raised including Pier 70 Ventures, Kern Venture Group & GenHenn Capital
  • Exited unicorn co-founder ($1.65B to Stryker); leadership from Genentech, Optum, & Abbott
  • 10 US health systems and hundreds of practices as customers; Class 2b CE Mark in Europe; 5 patents
  • TIME Best Invention, Inc. Magazine Best in Innovation, Edison & SXSW winner; Forbes & CBS features
  • $8B+ US & European market across 1.5M+ frontline clinicians evaluating suspicious lesions

Team profiles

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Invest in DermaSensor Inc.

The only FDA-cleared AI diagnostic improving skin cancer detection for all clinicians

EARLY BIRD TERMS: $68,623 LEFT

$5,065,321

raised from 163+ investors
INVESTMENT TERMS
Preferred Stock
 $72.4M  $65.8M pre-money valuation
Early Bird Bonus: The first $500K of investments will be at a $65.8M pre-money valuation

Highlights

VC-Backed

Raised $250K or more from a venture firm

VC-Backed

Fast Growth

Revenue growing 2X/yr for at least prior 6 months

Fast Growth

Repeat Founder

Started a prior company with $2M+ in funding or revenue

Repeat Founder
1
First & only automated skin cancer detection tool cleared by the FDA for Primary Care Physicians
2
$1M contracted revenue at EOY 2025 from 3X device growth, $3M target for EOY 2026
3
>40K lesions scanned, 9 published clinical studies; device cuts physicians missed cancers by 50-68%
4
$20M raised including Pier 70 Ventures, Kern Venture Group & GenHenn Capital

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Team


Memo

DermaSensor is the first and only FDA-cleared automated skin cancer diagnostic for clinicians who aren’t dermatologists.

Skin cancer is one of the most common cancers in the world, and one of the most survivable when caught early. Melanoma is 99% survivable when found at the earliest stages, and 40% survivable when found late. The difference is often just a timely referral, and for decades that referral has relied on the naked eye.

Led by top-tier entrepreneurs and investors, DermaSensor is ending a reliance on visual guesswork. Using AI-powered spectroscopy, our patented device scans a suspicious lesion with pulses of light and returns an objective risk result in seconds.

DermaSensor has earned the kind of recognition that's rare in medtech. Following the recent FDA approval in 2024, TIME named us a 2024 Best Invention of the Year, and Inc. named us a 2025 Best in Innovation honoree alongside Anthropic and Nvidia.

With FDA clearance secured, commercialization is underway. Hundreds of practices across the U.S. are already using the device, including ten leading health systems. Contracted devices and annual recurring revenue tripled from year-end 2024 to 2025, with 40,000+ lesions already scanned to date.

Europe is next. In May 2026, our device received Class IIb CE Mark, the certification that authorizes its sale across the EU. We’ve also secured a collaboration with England's National Health Service (NHS) -- that study is already underway and could open the door to the second largest single-payer health system in the world.

For investors, DermaSensor is a proven, FDA-cleared and CE-marked technology in an $8B+ market with no other FDA-authorized competitor, backed by a founding team that's sold medical device companies to Stryker and GE.

We're building a future where no life is lost to cancer that you can see.

Currently in primary care, studies show that physicians miss as many as 46% of skin cancers. Over 120,000 people die from skin cancer every year around the world, almost always because it was caught too late.

In the US alone, 3 million people are diagnosed annually. Hundreds of thousands undergo invasive surgeries that earlier detection could have helped avoid, and over ten thousand sadly die. The difference between a routine procedure and a deadly diagnosis often comes down to referral timing.

The biggest obstacle to catching it early is getting to a specialist.

In the US, only about 11,000 dermatologists serve ~100 million people at risk for skin cancer. Similar to the US, across the UK and continental Europe, the wait to see a dermatologist can stretch months. Between waitlists, time off work, out-of-pocket costs, and lack of awareness, many people simply never go.

The job of catching skin cancer early falls to the clinicians who see patients for routine physicals. Most primary care clinicians receive little dermatology training and often aren't confident evaluating a suspicious mole.

Fewer than 9% report using a dermatoscope regularly, a subjective imaging tool that requires extensive training to improve performance over naked-eye assessment.

Suspicious moles in primary care are almost always evaluated mainly by visual appearance alone, the same way that they have been since melanoma was first described medically in 1804. Because of this, skin cancers are often missed, and studies show that less than 5% of moles referred or biopsied from primary care for melanoma are actually melanoma.

Non-dermatologist clinicians have never had an objective detection device available in the exam room, until now.

DermaSensor is equipping clinicians on the front lines with a skin cancer detection device that can be used during the same visit it's spotted.

The technology behind DermaSensor was pioneered at Boston University, where Professor Irving Bigio invented the field of Elastic Scattering Spectroscopy.

What was once a 30-pound instrument is now a sleek handheld device that pulses hundreds of wavelengths of light through five different lesion recordings to evaluate many cellular and sub-cellular features beneath the lesion's surface. The device reads what no eye can, with the algorithm analyzing 47 different wavelengths to determine skin cancer risk.

The algorithm was trained on thousands of diagnosed lesions to correlate lesion diagnoses with the cellular-level spectral features that the device is detecting beneath the surface of the skin lesion.

The patient never feels a thing. They leave the visit with an answer instead of months-long worry.

The objective result also moves patients to take action: clinicians tell us patients are far more likely to follow through on a dermatology referral when they've seen the score for themselves.

For decades, companies have tried to solve skin cancer detection by applying algorithms to photos of moles. They all ran into the same problem: a picture only sees the surface.

Many image-based competitors have failed to achieve FDA authorization, and any consumer skin cancer apps that provide a similar skin cancer likelihood result or risk level are marketed on app stores without the required FDA authorization.

DermaSensor took a different path. Instead of analyzing images, our device evaluates cellular and sub-cellular level features from beneath the skin, capturing objective information the naked eye and a camera cannot.

These are the same features that pathologists look at under a microscope after a skin lesion biopsy. The result is a category-defining technology with no direct equivalent today, protected by 5 patents spanning the core detection method and our proprietary calibration and algorithms.

Our moat gets deeper with every scan: while image-based AI tools that have failed to gain FDA authorization already have millions of photos available to train on from publicly available datasets from academic centers (e.g. Memorial Sloan Kettering), our spectral data can only come from a device in a clinician's hand, and ours is the only one out there.

Our customers are already scanning ~2,000 lesions a month, and device scans are saved to our database and can be used to make the algorithm better. With our recently launched clinical registry, our customers can now share deidentified data with us for publication and algorithm development purposes. We have three active pipeline programs, two of which are next-generation algorithms that we expect to be delivered as new products through our current device.

Many hundreds of physicians are already using the device commercially, and in the FDA pivotal clinical utility study with over 100 physicians, 99% reported at least one benefit from use of the device results and 81% reported increased confidence.

DermaSensor is in daily use across family medicine, internal medicine, concierge practices, walk-in clinics, and major health systems. We are also starting to see patients ask for the device by name, searching our Physician Finder to locate practices that carry the device.

We envision that the use of our device and the phrase "DermaSensor it" will become the "new normal" for checking suspicious lesions.

From TIME's Best Inventions to Inc.'s Best in Innovation, DermaSensor has been recognized among the most innovative companies in the world. But the most compelling endorsements come from the exam room.

DermaSensor was co-founded by Dr. Maurice Ferre, a multi-exit medtech CEO. Dr. Ferre scaled MAKO Surgical, the robotic-surgery company, to a $1.65B acquisition by Stryker as CEO. As co-founder and Chairman, he now leads DermaSensor's board. They have experience taking a first-in-class device from launch to exit, and they're doing it again for skin cancer.

CEO and Co-Founder Cody Simmons, a Brown University and Stanford University-trained bioengineer and former Genentech business development leader, was hand-picked by the founders to turn their research project into a company. He built DermaSensor from concept to FDA clearance and a TIME Best Invention of the Year.

DermaSensor’s commercial team has scaled products at Abbott, ResMed, and Qualcomm, and our clinical team has led the DermaSensor device through the six clinical studies submitted to the FDA and many others (nine are published to date). This all-star leadership team has deep expertise in putting new technology into clinicians' hands.

DermaSensor is built on a hardware-as-a-service model, similar to the common and successful SaaS model. We expect most customers to pay over $25,000 per device over the five-year validated life of the device, providing our company with over a 90% gross margin per device.

Because there is no large upfront purchase cost (unless a customer prefers to purchase it), many sales cycles are just a few weeks, and practices generate recurring revenue for DermaSensor Inc.

Our revenue comes through three main channels:

  1. Digital marketing leads feed direct sales with private practices,
  2. Executive-led contracts with health systems, and
  3. National distribution through reps who will sell devices alongside supplies clinicians already order, e.g. our new commercial partner MedTech MedPlace (MTMC) with ~150 sales reps.

Sales in Europe will follow with commercial partners under the new CE Mark.

DermaSensor launched commercially in May 2024 and is scaling fast. Paid devices tripled in 2025, closing the year at $1M in contracted revenue, with clinicians using each device twice as often as expected. In 2026, contracted revenue is on track to at least triple again to $3M. The company plans to reach at least $10M next year and $100M in 2031.

The next wave of revenue is driven by deals already in place: two national distribution partnerships providing access to sell DermaSensor to ~500 sales reps, a new VA reseller partnership, major new health system deployments, and European commercialization.

The economics compound from there - DermaSensor expects to reach profitability by 3,000 active devices.

Forward-looking projections are not guaranteed.

DermaSensor's total addressable market includes every clinician who evaluates suspicious moles but isn't a dermatologist.

In the US alone, that includes 300,000 primary care physicians today, growing to nearly one million clinicians when the device expands to nurse practitioners and physician assistants. Across Europe, it's larger still. DermaSensor is the only FDA-cleared and CE-marked device that is indicated for use by physicians who are not dermatologists.

When a diagnostic device proves itself with clinicians, the largest names in medtech tend to acquire the company behind it. DermaSensor's own chairman has been on the selling side of that deal before.

Forward-looking projections are not guaranteed.

Skin cancer is one of the most common cancers in the world, and the most survivable when it's caught early. Backed by tens of millions in investment from leading investors, DermaSensor exists to make catching it early the standard with an FDA-cleared or CE-marked device in every exam room at the front line of care.

The pieces are already in place. Across the U.S., hundreds of practices use the device today, ten health systems are under contract, and two distributors are in the process of putting 500+ reps behind it. In Europe, we’ve laid the foundation for market entry so that 1.5M clinicians around the world can’t wait to use DermaSensor, because patients can’t wait.

Almost everyone knows someone who heard, "I'm sorry, we caught it too late." It doesn't have to be that way. Clinicians are bringing DermaSensor into their exam rooms, and patients are asking for it by name.

Now it's your turn: own a piece of a company working to make sure no one loses their life to a cancer that was visible all along.

Invest in DermaSensor today →













Overview