Skin Analytics, a British healthtech company focused on early skin cancer detection, has raised £15 million in a Series B round led by AI-focused investor Intrepid Growth Partners. The round follows the company’s landmark regulatory milestone: earning an EU MDR Class III CE mark for its AI tool, DERM — the world’s first legally authorized AI medical device for skin cancer diagnosis that can make decisions without human oversight.
Intrepid Growth Partners is backed by high-profile names including Mark Machin (former CEO of CPPIB), Mark Shulgan (former Head of Growth Equity at OMERS), and Ajay Agrawal (a leading expert in AI economics from the University of Toronto).
The company’s funding arrives at a moment when health systems around the globe are under pressure due to a lack of dermatologists. With just 30 dermatologists per million people in many European countries, patients often face long waits for essential skin cancer screenings. This scarcity is especially concerning given that skin issues are among the most common reasons for initial GP visits.
Skin Analytics has already made notable strides in the UK. Its DERM device is deployed at 26 NHS sites and has been used in pathways involving more than 150,000 patients, identifying over 14,000 cancers. The technology can autonomously discharge up to 40% of urgent skin cancer referrals, helping to reduce unnecessary face-to-face dermatology appointments by up to 95%.
The fresh capital will help Skin Analytics expand beyond skin cancer into a wider range of dermatology conditions. The team also plans to launch in new markets, particularly across Europe, Australia, and the United States, where specialist shortages are creating major care gaps.
"AI allows us to move from a world of specialist scarcity to one where we have the capacity to see everyone who is concerned about their skin," said Neil Daly, founder and CEO of Skin Analytics. "We have proven this technology in the UK and are now making it available globally."
Founded by Neil Daly, Skin Analytics is on a mission to build a future where no one dies from skin cancer. The company’s DERM solution delivers a 99.8% accuracy rate in ruling out high-risk skin cancers, outperforming the 98.9% benchmark set by dermatologists. This has made it a critical support tool for overburdened public health systems.
The company is now investing in talent, actively hiring top-tier professionals in AI and healthcare to support its global growth and mission-driven expansion.
"This is just the beginning," Daly added. "The faster we scale, the more lives we can impact. That mission drives us every day."
Intrepid Growth Partners, known for backing AI-first health and infrastructure plays, led the Series B. The fund’s founders bring deep expertise across capital markets and AI, supporting ventures they believe can reshape essential industries.
"Their technology is redefining early skin cancer detection, improving patient outcomes while reducing healthcare costs," said Mark Machin, Co-founder and Managing Partner at Intrepid Growth Partners.
