The Toronto-based startup Figure 1, whose medical photo sharing app used by more than 500k medical professionals across 100 counties has raised $5 million in funding from Union Square Ventures as well as existing backers Version One Ventures, Rho Canada Ventures and Graph Ventures. Investors also include Allen & Co. and individual investors. The latest funding round brings the Canadian digital health startup's total funding to $9 million. The company plans to utilize the funding to
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Figure 1
20 Promising Canadian Digital Health Companies to Watch
“A company’s odds of success are better the closer they can get to their market,” argues Stephen Hurwitz, a thought leader in the Canadian venture capital industry, recognizing that the proximity to a VC-tech hub can help the success rate of Canadian startups. A socialized healthcare system, Canada’s market is fragmented by province and type of care – most primary and emergency care is free for residents whereas specialty care, prescription drugs, long-term and in-home care amongst others,
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