AI-powered skin cancer diagnostic technology startup DermaSensor has raised $4 million in a Series B extension round from institutional and strategic investors.
DermaSensor closed its initial tranche of $16 million Series B in October 2025. Including the latest extension round, DermaSensor has raised $48 million in VC Funding to date.
DermaSensor offers an FDA-cleared, non-invasive handheld diagnostic system designed to provide an immediate, objective assessment of skin cancer risk. The technology, originally developed at Boston University, combines Elastic Scattering Spectroscopy (ESS) with artificial intelligence to analyze suspicious lesions at the point of care.
According to DermaSensor, clinical studies evaluated its device have shown 96% sensitivity across melanoma, basal cell carcinoma (BCC), and squamous cell carcinoma (SCC), while reducing missed skin cancer referrals by more than 50%.
Since its commercial launch two years ago, the DermaSensor system has been deployed across hundreds of healthcare provider organizations and used to assess more than 45,000 suspicious lesions to date.
“Our professional investor partners have supported us through every phase of building this new medical device category. Opening the financing on Wefunder is about extending that ownership to the physicians and patients who are living the problem we’re solving, given that 1 in 5 Americans are affected by skin cancer. We want the people closest to it to have a seat at the table,” said Cody Simmons, Co-Founder and CEO of DermaSensor.
Latest Funding Activity
DermaSensor’s financing comes amid continued investor interest in AI-enabled cancer detection and diagnostics. The latest funding activity reveals a strong institutional pivot away from broad, traditional oncology treatments toward highly precise, AI-driven diagnostics.
More recently, SkinBit, a developer of an AI-driven full-body skin cancer scanning platform, raised $6 million in a pre-seed round to bring twenty-minute, full-body skin cancer scanning technology to clinics and wellness centers in the U.S.
In another deal, Inocras, a bioinformatics-led startup harnessing the power of whole-genome data and proprietary AI analytics to deliver curated insights for oncology and rare cancer diseases, has raised $31 million in an oversubscribed Series B-3 financing.