About/ Investor
Investor Information
Patient Capital, Concrete Steps & Big Dreams
The Pathology Network's vision of an efficient, global, patient-centric, tech-enabled, AI-assisted pathology and laboratory diagnostic ecosystem serving Africa and other developing markets is a big dream. It not only solves an intense problem affecting millions of patients but creates new possibilities for the practice of medicine in emerging markets.
Funding was required to take the necessary steps towards making this vision a reality and we are privileged to have raised over US$ 1.1 million in funding between 2019 and 2024. We are equally delighted to note that our investors have not only deployed patient capital but also invested their time and expertise to helping build this transformative business.
Company Overview
The Pathology Network (TPN) is a Oxford-headquartered , Africa-focused technology company in the laboratory medicine space. We are building the enabling technology infrastructure to connect patients across Africa to specialised pathology and laboratory medicine resources in their country and abroad.
Business Model
TPN has pioneered an on-demand pathology and lab medicine service for Africa in which TPN is a trusted digital intermediary. TPN receives payments for laboratory tests and arranges for those tests to be performed by licensed and vetted laboratories and pathologists. TPN acts as chaperone for the laboratory testing process on behalf of its clients - the doctors and patients, ensuring quality and speed of service. It also acts as a credentialing and commercial partner to laboratories and pathologists, assisting them in maintaining diagnostic standards, ensuring reliable payments as well as delivering to them a consistent flow of quality samples for analysis.
Investors
To date TPN has been financed by both individual and institutional investors. There are several seasoned impact investors among our shareholders, including Villgro Africa, Jazarift Ventures, Kua Ventures, ADAP Capital and Terama Impact Partners. These investors have been very supportive of our activities in light of the transformational impact that we are having on the health sector in Kenya and before too long across East Africa and beyond.
Investors Updates
We keep our investors up-to-date with company affairs and progress through quarterly newsletters and an annual meeting.
Get in touch
Are you considering The The Pathology Network for investment? Please email [email protected]
Key Milestones
2017-2018
Ideation, MVP built in a rural town in Kenya. We discovered that the software platform needs to address inter-institutional sample referral, communication and coordination challenges.
2019
Early traction milestones:
- ● First paying customer
- ● First external pathologist user (other than the founder)
- ● First hospital users
- ● First angel investor
- ● First marketing conference
2020-2021
These years saw significant business model refinement which informed today's model.
- ● First institutional investment - $50,000 funding from Villgro Africa plus additional follow-on funding
- ● First employees and first independent office
- ● Development of early scaling strategies
2022
- ● Met first revenue milestone
- ● Launched new products
- ● Established presence in Nairobi
- ● 30 hospital clients and 14 pathologists
- ● Fundraising for $650k
2023-2024
- ● Closed on $650k seed funding
- ● Updated MVP creating scalable successor - www.spes360.com
- ● Expanded the types of tests we support
- ● Launched www.hpv.ke
- ● Hired first members of senior leadership
- ● Established UK headquarters