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§ Private Profile · Markham, ON, Canada
Develops high-resolution micro-ultrasound systems for urologic imaging, focused on prostate cancer detection.
Based in Markham, Ontario, Exact Imaging develops high-resolution micro-ultrasound systems designed for urologic imaging and targeted prostate cancer detection. The company's flagship ExactVu platform facilitates real-time imaging and guided biopsies, utilizing proprietary technology that is currently supported by a portfolio of over 100 patents. Operating with a dedicated workforce of 49 employees, the enterprise generates under $5 million in annual revenue while serving a global base of more than 300 clinical customers. The medical device manufacturer has raised $27.2 million in total funding, which includes a recent $10 million financing round led by investor iGan Partners. Corporate operations and international distribution expansions are managed by an executive team that includes Vice President of Engineering Brian Wodlinger and Director of Finance Kevin Maier. Exact Imaging was founded in 2013 by co-founders Sam Ifergan and Randy AuCoin.
Exact Imaging has raised $26.3M across 2 funding rounds.
Exact Imaging has raised $26.3M in total across 2 funding rounds.
Exact Imaging has raised $26.3M across 2 funding rounds. Most recently, it raised $10.0M Venture Round in February 2026.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 10, 2026 | $10M Venture Round | IGan Partners | — | Announced |
| Jan 5, 2017 | $16.3M Series C | Peter VAN DER Velden, Mba, M.sc., Gaston Matthyssens | SAM Ifergan, Alexandra Tolia | Announced |
Exact Imaging has raised $26.3M in total across 2 funding rounds.
Exact Imaging's investors include iGan Partners, Peter van der Velden, MBA, M.Sc., Gaston Matthyssens, Sam Ifergan, Alexandra Tolia.
Exact Imaging is a Canadian MedTech company headquartered in Markham, Ontario, specializing in high-resolution micro-ultrasound systems for urology, particularly prostate cancer diagnosis.[1][2][3] It develops the ExactVu™ platform, operating at 29 MHz to enable real-time imaging and targeted biopsies, serving urologists by solving the problem of inaccurate traditional ultrasound diagnostics with 300% improved resolution over conventional systems.[1][2][3] This allows visualization of suspicious prostate regions during procedures, fitting seamlessly into standard workflows for faster, more precise biopsies in about 15 minutes per patient, reducing the need for multiple visits.[3]
The company targets the urological market, focusing on prostate biopsies, screening, treatment guidance, and applications like testicular imaging or bladder cancer assessment, while deliberately narrowing scope within urology for deep impact rather than broad expansion.[1] With regulatory approvals including FDA 510(k) clearance, Health Canada license, and CE Mark, Exact Imaging has gained traction through partnerships like UroGPO and awards such as Frost & Sullivan's 2019 Technology Innovation and Company of the Year.[5][6][7]
Exact Imaging emerged as a pioneer in micro-ultrasound technology, developing the world's first 29 MHz system with the launch of ExactVu™ around 2017-2019, as evidenced by early press releases and regulatory milestones like Health Canada approval in March 2017 and EU CE marking.[2][5] While specific founders are not detailed in available sources, leadership under President and CEO Randy AuCoin has driven its focus on urology, recognizing the technology's fit for high-frequency imaging in prostate and related anatomies via transrectal or small parts probes.[1]
Pivotal moments include FDA 510(k) clearance for the ExactVu system and later innovations like the Sterile Transperineal Needle Guide, enabling transperineal biopsies.[5] Commercialization proved the biggest challenge post-product development, with strategic decisions to prioritize urology depth over diversification, alongside partnerships like Cambridge Consultants for AI integration in 2018 to enhance suspicious tissue detection.[1][4] Early traction built through peer-reviewed papers, clinical protocols like PRI-MUS, and availability expansions across North America and Europe.[3][5]
Exact Imaging stands out in prostate imaging through these key advantages:
Exact Imaging rides the wave of advanced MedTech imaging for precision oncology, specifically addressing prostate cancer's diagnostic gaps where traditional ultrasound misses subtle lesions and MRI is costly/logistically challenging.[1][2] Timing aligns with rising prostate cancer incidence, demand for real-time biopsy tools, and AI integration in healthcare, as seen in their 2018 deep learning partnership to flag suspicious tissues automatically.[4]
Market forces favoring them include urology's shift to targeted biopsies (reducing overdiagnosis), regulatory wins enabling US/EU/Canada adoption, and workflow compatibility that lowers barriers versus competitors.[3][5] They influence the ecosystem by publishing peer-reviewed papers, standardizing protocols like PRI-MUS, and expanding micro-ultrasound applications within urology (e.g., bladder cancer staging), potentially reducing healthcare costs and improving outcomes amid AI-driven diagnostics growth.[1][3]
Exact Imaging is poised for scaled adoption in urology practices, leveraging its resolution edge and AI enhancements to dominate targeted prostate biopsies amid growing precision medicine demand.[1][4] Upcoming trends like broader AI (e.g., risk-stratification, surgery planning) and transperineal procedure standardization will shape growth, with potential net worth exceeding $50M as targeted pre-2021 amid commercialization momentum.[1][7]
Their influence may evolve toward urology ecosystem leadership, integrating micro-ultrasound with MRI/AI hybrids and expanding validated uses (e.g., testicular, bladder), solidifying ExactVu as the practical bridge between affordability and MRI-level accuracy in cancer care.[3] This positions them to modernize diagnostics, echoing their core mission from startup innovation to clinical staple.[2]