RICHARDSON, Texas, Feb. 27, 2019 /PRNewswire/ -- Ikonopedia, Inc., pioneers of a patented next generation breast reporting and tracking system, announced today that Texas Women Ventures (TWV) Capital, an independent Dallas-based private equity firm that focuses on women-owned and women-led businesses, has invested in the company. The TWV investment was part of Ikonopedia's $2M Series C Preferred Stock financing.
The financing also involved existing Ikonopedia Board Member and investors. Proceeds will fund key product development initiatives and fuel continued growth of the company's customer base and exam volume. Whitney Martin, Managing Director and co-founder of TWV Capital, will join the Ikonopedia Board of Directors.
"TWV Capital's mission is to invest in women-led companies with pioneering technologies," said Martin. "We are especially proud to support the Ikonopedia team led by Emily Crane with this investment into its game-changing technology about women and for women. Driving breast imaging efficiency and patient safety, Ikonopedia helps ensure that women get accurate and timely information about their breast care, which can lead to better outcomes."
Ikonopedia has recently initiated or completed installations across a broad range of breast imaging practices and large radiology groups, including Sinai Health System in Chicago, Diagnostic Clinic of Longview in Texas, Invision Diagnostics in Florida and North Carolina, Breast Cancer Detection Center of Alaska, and Maui Medical in Hawaii. In addition to expanding its customer base, Ikonopedia's monthly exam volume more than tripled in 2018.
Ikonopedia is an innovative structured breast reporting and MQSA management system designed to dramatically improve reporting efficiency, and optimize facility operations. All findings are saved as discrete data which allows Ikonopedia to prevent errors, maintain BI-RADS-compliant language and automate many time-consuming processes. Ikonopedia makes it possible to eliminate laterality errors, automatically choose exam-appropriate patient letters and pull forward findings from past exams along with many other time-saving features.
"We look forward to adding Whitney's expertise and vision to our Board to help fuel continued innovation and commercial success. Growing adoption of Ikonopedia among key breast imaging practices and large radiology groups has positioned the company for rapid growth moving forward," said Emily Crane, president of Ikonopedia.
About TWV Capital
TWV Capital, a Dallas based private equity firm that provides growth capital through innovative capital solutions to private companies with inclusive management teams and ownership, is continuing to fulfill its mission to invest in gender inclusive companies. TWV Capital is unique in that it leaves ownership and control with the current owners and management team. In addition to providing capital, TWV Capital offers an experienced team of more than 100 industry and functional experts, entrepreneurs, and seasoned professionals who serve as trusted advisors and resources for portfolio companies. For more information, visit www.twvcapital.com.
Ikonopedia was founded by three expert breast imaging Radiologists: László Tabár, MD is the author of 6 books in 10 languages on mammography and a world renowned educator; A. Thomas Stavros, MD is the author of one of the most popular reference books in the field of breast ultrasound; and Michael J. Vendrell, MD is an expert in breast MRI and CAD design with extensive experience in breast-imaging software. For more information, visit www.ikonopedia.com.