LifeImage closes $12 million round

January 5, 2011 by MassDevice staff

Medical image e-sharing start-up LifeImage Inc. brought in $12 million with the closure of its latest funding round.

LifeImage logo

LifeImage Inc. completed its second funding round, bringing in $12 million, according to The Boston Globe.

The Newton, Mass.-based start-up develops a cloud-computing based medical image sharing platform.

The firm has now raised about $17 million since CEO Hamid Tabatabaie and senior vice president Amy Vreeland founded the company in 2008. That includes a $2.2 million round in March 2009 and a $2.2. million round in January 2010, plus angel funding raised in conjunction with the venture raises.

New investors Cardinal Partners of Princeton, N.J., and Galen Partners of Stamford, Conn., led the round.

Previous LifeImage investors include Long River Ventures, Mass. Technology Development Corp. and Partners Innovation Fund. EMC Corp. (NYSE:EMC), which is interested in LifeImage because of the massive amount of image data that the company would be storing, is also a strategic investor.

In July, the growing company added three individuals to new leadership positions. The company currently employs 42 people, according to the Globe.