Ryerson Futures backed Figure 1 Raises $4M to Become Medicine’s Instagram

Ryerson Futures backed  Figure 1 Inc. has raised $4 million in Series A venture funding to grow its photo-sharing app for health-care professionals, according to co-founder Gregory Levey.

Ryerson Futures (RFI) is a “Founders First” Accelerator program that selects and assembles top technology based start ups, accelerating their go to market success with real customers, real investors, and actionable guidance. RFI is connected to the leading edge incubator Digital Media Zone (DMZ) at Ryerson University, which has incubated 125+ companies since launch in 2010, raising in excess of $25m in funding in 2013 alone. Figure 1 has been seed funded by Ryerson Futures.

Union Square Ventures led the round joined by the company’s earlier backers Version One Ventures and Rho Canada Ventures.

While popular images on photo-sharing apps like Instagram are likely to include cute animals, beautiful landscapes or delectable food and drink, the images on Figure 1 have less appeal, at least to the untrained eye.

Today, more than 125,000 health-care professionals use Figure 1 to view or share free medical imagery. The app’s users include board-certified doctors, registered nurses, medical and nursing students, physicians’ assistants, and others who use the app and share images for teaching and studying purposes, or even to request community feedback about a possible diagnosis.