B Capital Group, LifeForce Capital lead $40m funding in US-based Notable Labs

Photo by Hush Naidoo on Unsplash

Notable Labs, a San Francisco-based AI-driven cancer treatment startup, has raised  $40 million in a Series B round, co-led by the Eduardo Saverin’s VC fund B Capital Group and its existing investor LifeForce Capital.

In a statement received on Wednesday, the Series B round brings Notable’s total funding to more than $55 million. The company raised $14.8 million in a Series A round in September 2017.

Other investors who participated in the Series B funding round included First Round Capital, Industry Ventures, Capital Group, and 11.2 Capital, according to  Crunchbase.

Notable’s technology combines artificial intelligence (AI) with an automated lab that enables the startup to offer treatment to cancer patients who are running against time, thereby predicting drugs that are best suited for them.

Notable also helps patients and physicians to take informed decisions based on which clinical trials would be effective for them.

The company’s clinical trial, which recently achieved 84 per cent accuracy rate in predicting patients’ response to drugs, has been partnerships with Stanford University, MD Anderson Cancer Center, University of California San Francisco, Rady Children’s Hospital, and Texas Children’s Hospital, among others.

“LifeForce Capital is increasing its commitment to the company because of the results Notable has already achieved, and because Notable’s technology will continue to help physicians use data to make more informed decisions on which treatments and clinical trials will be most effective for each individual patient,” LifeForce Capital managing partner John Noonan said in a statement.

A global venture capital firm, B Capital Group was established in partnership with consulting firm Boston Consulting Group. The firm invests in healthcare, fintech, industrial logistics, and consumer enablement companies.

The firm previously backed and co-led a $30 million Series C funding in California-based Evidation Health in August 2018. It also backed a Singapore-based fintech company Capital Match Holdings in January last year.

California-based LifeForce Capital is a VC fund focussing on digital health companies.  It has so far backed Advantia, Cricket Health, Dr. Consulta, Galileo, Grand Rounds, HeartFlow, One Medical, among others.