Flywheel Reports Strong 2025 Growth and Announces $27.5M Financing
Flywheel, a Minneapolis-based medical imaging data management and analysis platform, reported a year of record growth in 2025, marked by product expansion, rising adoption across life sciences, and the close of a $27.5 million equity financing round. Led by Novalis Lifesciences and 8VC, the oversubscribed financing round will be used to accelerate product innovation and support Flywheel’s expansion in clinical trial imaging and AI-ready data management, as demand grows for scalable, compliant imaging infrastructure across the life sciences sector.
Originally built to support academic core lab research, Flywheel has evolved into an enterprise imaging platform serving clinical trials, medical device development, and AI innovation. The company aggregates, curates, and analyzes large-scale imaging datasets, positioning imaging data as a central asset across regulated research and development workflows. During 2025, Flywheel expanded its capabilities with the launch of video viewing and annotation tools, allowing users to manage video data alongside traditional imaging datasets. The company also introduced Flywheel Validated, a solution designed to support 21 CFR Part 11–compliant workflows in clinical trials, enabling earlier and more reliable access to imaging data while supporting regulatory requirements.
“Imaging data holds tremendous value and is increasingly viewed as a strategic asset,” said Hooman Hakami, CEO and Board Chair of Flywheel. “Unlocking this value requires integrated data management, compliant workflows, and AI capabilities at scale. Flywheel is well-positioned to transform how organizations use imaging to inform clinical trials, accelerate AI development, and move faster from discovery to decision.”
Flywheel reported a 43 percent year-over-year increase in new business and a 40 percent rise in committed revenue. Annual recurring revenue from pharmaceutical and medical device customers more than doubled compared to last year, and net revenue retention exceeded 110 percent. Ten of the world’s top 20 pharmaceutical companies and 10 of the top 20 academic medical centers now use the platform, and adoption is growing among medical device developers and research sponsors.
