Skin cancer is one of the most diagnosed cancers worldwide, affecting millions of people each year. Despite its widespread impact, many healthcare systems are unable to meet the growing demand for early and accurate diagnosis. In Europe alone, there are just 30 dermatologists per million people. This shortage creates dangerous delays, with early diagnosis often determining whether a patient survives. British healthtech company Skin Analytics is tackling this challenge head-on with a clear mission — to make sure no one dies from skin cancer due to delayed detection.
Funding to Accelerate Global Reach and Innovation
Skin Analytics recently raised £15 million in Series B funding. The round was led by Intrepid Growth Partners and marks a key milestone for the company. The investment follows Skin Analytics’ historic EU MDR Class III CE mark approval. This approval makes its AI tool, DERM, the first legal AI device that can make clinical decisions for skin cancer diagnosis without human involvement.
With the new funding, Skin Analytics plans to expand internationally. The company will focus on countries with dermatologist shortages, such as those in Europe and Australia. It also aims to strengthen its presence in the US market, where access to dermatologists remains uneven.
The funds will also help recruit top-tier AI engineers and healthcare professionals. Skin Analytics is investing in talent that shares its goal of transforming cancer detection through innovative, scalable solutions.
AI That Works Like a Dermatologist
Founded in 2012 by Neil Daly, Skin Analytics began with a simple belief: early detection saves lives. By 2015, the company launched its first teledermatology services. Over time, it evolved into a leader in medical AI, helping overstretched health systems through technology.
DERM, the company’s flagship AI tool, is built using over 12 years of real-world data. It identifies malignant and pre-malignant lesions and distinguishes them from benign lookalikes. With this ability, it accurately triages patients, sending urgent cases to specialists while safely discharging others.
In fact, DERM has reduced face-to-face dermatology appointments by up to 95% in NHS settings. It also helps discharge up to 40% of urgent suspected cancer referrals. This improves patient care and gives specialists more time to focus on the patients who truly need their attention.
DERM has a Negative Predictive Value of 99.8%. That means the system almost never misses serious cancers that require fast intervention. For comparison, dermatologists in person average about 98.9% accuracy. So far, the AI has assessed more than 150,000 patients at 26 NHS sites and detected over 14,000 cancers.
Looking Ahead: Global Growth and Lifesaving Impact
Skin Analytics is more than a promising startup — it’s redefining how we fight skin cancer. With regulatory approval, scientific credibility, and solid financial backing, the company is poised to lead a global transformation in dermatology.
AI is changing healthcare, but it doesn’t aim to replace clinicians. Instead, Skin Analytics shows how AI can extend their reach, delivering timely, accurate results to more people. The technology is especially powerful in underserved regions where specialist access is limited.
Neil Daly, the founder and CEO, said:
“AI allows us to move from a world of specialist scarcity to one where we can help everyone concerned about their skin. Starting with skin cancer, this funding allows us to work with our partners to build new models of care that everyone can access, whenever they want to. That brings us closer to a world where no one dies from skin cancer. We’ve proven this in the UK and are now taking it global.”
Mark Machin, Co-founder and Managing Partner at Intrepid Growth Partners, added:
“We invest in transformative AI that tackles urgent global problems. Skin Analytics fits that vision. Their system improves outcomes and reduces costs. We’re proud to help them scale their impact around the world.”
