Legit.Health
Series A  ·  2026

The objective measurement layer
for dermatology

An AI medical device that diagnoses 300+ skin conditions and objectively scores their severity from a single photo. Already in production across hospitals, insurers and pharma.

Andy Aguilar, CEO
Andy Aguilar  ·  CEO & Co-founder
andy@legit.health  ·  July 2026
Problem

There is a critical shortage of dermatological expertise

Demand for dermatological assessment far outstrips supply. And when a specialist is available, two doctors score the same patient differently. That subjectivity blocks triage, follow-up and treatment.

1 in 3
People with a skin condition each year
≈1.9B affected globally. Skin diseases are the 4th leading cause of non-fatal disease burden.
Source: Global Burden of Disease · WHO
127 days
Average dermatology wait in the Spanish public system
In Spain. In the UK NHS it exceeds 18 weeks. The specialist shortage is structural across Europe.
Source: Spanish Ministry of Health · SISLE-SNS · Dec 2025
~30%
Difference between two doctors scoring the same lesion
With standard scales like PASI or SCORAD. Without objective measurement you cannot compare progression or measure treatment response.
Source: peer-reviewed clinical literature
Solution

We bring clinical expertise to where it is needed most

One photo. An objective score. In seconds. Certified as a medical device.

Clinical practice
Hospitals · Insurers · Telemedicine
Automated triage, longitudinal follow-up, prioritised referral. Non-specialist doctors respond where there used to be a 127-day wait.
Clinical research
Pharma · CROs
Objective trial endpoints: automated PASI, SCORAD, IGA, IHS4. Reduces variability and enables decentralised studies.
What makes us unique?
The only AI medical device that combines diagnosis across 300+ skin conditions with objective severity scoring, not just detection. Regulatory certification + 9 peer-reviewed papers validating the algorithms.
Clinician using Legit.Health in a dermatology consultation
Product & technology

From diagnosis to prediction and phenotyping

Legit.Health APASI on iPhone
Capabilities today
300+ conditions
Diagnosis support, from acne to skin tumours.
Objective endpoints
PASI, SCORAD, IHS4, AUAS, SALT, GPPGA. 9 peer-reviewed papers.
Image quality (DIQA)
Filters out non-diagnostic photos. Enables teleconsultations and decentralised trials.
Roadmap 2026-2028
Prediction
Treatment response. Critical for pharma in phase II/III.
Phenotyping
Disease subtypes. Patient stratification in studies.
Multi-modality
Photo + clinical data + biomarkers in combined models.
Product evolution

We delivered what we promised. We are accelerating what comes next.

From basic diagnosis (5 conditions, 2020) to today's platform (300+ conditions diagnosed, plus severity scoring on the standard validated indices). Prediction and phenotyping are the 2026-2028 roadmap.

2020
2021
2022
2023
2024
2025
2026
2027 +
Diagnosis
5 conditions
Diagnosis
300+ conditions
Severity measurement
10 endpoints
Severity measurement
60 endpoints
Prediction & phenotyping
TODAY
Traction

2025: the inflection year

€401K
ARR · Jun 2026
Recurring run-rate · +90% YoY
€903K
Signed TCV 2025
16 contracts
92%
Top-customer retention
Gross retention, largest 2025 deals
7
Active markets
Europe + LatAm
The commercial engine is compounding
ARR up +90% YoY, from €300K in Dec 2025 to €401K in Jun 2026. 2025 closed 16 new contracts for €903K in signed TCV across pharma, hospitals and insurers.
Revenue that stays and expands
92% retention across top customers. Land-and-expand within hospital groups and insurer networks grows revenue per account over time.
Over 66% of the €903K signed TCV is committed revenue for 2026-2027, not pipeline. ARR counts only recurring software; multi-year pharma studies are booked as signed TCV and recognised as they are delivered.
Client portfolio

Three segments with tier-1 names

Pharma · CROs
Objective endpoints in clinical trials
Johnson & Johnson Boehringer Ingelheim ICON Eli Lilly Novartis Pierre Fabre
Hospitals · Telemedicine
Daily clinical practice
SESPA Ribera Salud HM Hospitales Sanitas Hospitales Puerta de Hierro CHU Rennes Visiba Care
Insurers
Triage and digital consultation
Sanitas / BUPA Lux Med (BUPA) Teladoc / Adeslas Cigna IMQ
Why it matters: we work with 3 of the top 10 global pharma companies and with insurer groups that cover a combined insured population in the tens of millions. These contracts are not signed unless the product works, and they multiply credibility with the next customer.
Regulatory moat

Certification = years of head start

The moat is not the CE Mark itself, but what it backs: diagnosis across 300+ conditions plus objective severity scoring on the validated indices (PASI, SCORAD, IHS4).

🇪🇺
EU MDD
Class I diagnosis support
CE Mark Class I
Done
🇪🇺
EU MDR
Multi-diagnosis + severity measurement
Transition in progress
2026
🌐
ISO 13485
Quality management system for medical devices
BSI-certified
Done
🇧🇷
BR ANVISA
Brazil medical-device certification
Active market
Done
🇺🇸
US FDA · 510(k)
Pre-submission 2026, target clearance 2027. Sequential strategy: malignancy predicate first, then expansion.
10x market
In progress
FDA clearance unlocks the US clinical and insurer sale, and each regulatory milestone is a valuation re-rating.
Competition

The only one that combines all five

Competitors specialise: cancer screening, imaging hardware, or single-disease severity tools. Legit.Health is the only medical device combining diagnosis across 300+ conditions with objective severity, sold to pharma, hospitals and insurers.

Player Severity
measurement		 300+
conditions		 Pharma
/ CRO		 Medical
device		 Multi-
segment
Legit.Health ✓ ✓ ✓ ✓ ✓
Nia Health DE · inflammatory ✓ ✗ ✓ ✓ ✗
Clario US · pharma trials ✓ ✗ ✓ ✗ ✗
FotoFinder DE · imaging ✓ ✗ ✗ ✓ ✗
Skin Analytics UK · cancer ✗ ✗ ✗ ✓ ✗
DermaSensor US · FDA De Novo ✗ ✗ ✗ ✓ ✗
The insight: the closest players overlap on one or two axes: Nia Health and Clario measure severity for pharma but only in a few inflammatory conditions; FotoFinder adds severity on hardware. Skin Analytics and DermaSensor are single-purpose cancer detectors. Only Legit.Health combines all five, where the largest budgets (pharma + payers) converge.
Market

A 10x opportunity within reach

TAM · 2030
$1-7B
Dermatology-AI software to ~2030 (~16-26% CAGR). Sources: Mordor, Grand View, Precedence.
Enabling channel
$25-41B
Teledermatology market by 2030 (~15-18% CAGR), the channel our software rides.
Beachhead
7 markets
€903K in 2025 bookings; path from €401K to €1M ARR, then scale post-FDA.
US = 10x Europe
The US derm market is ~10x Europe. We already bill a US pharma; FDA clearance unlocks the clinical and insurer sale.
Three tailwinds converging
Regulation (regulators and sponsors increasingly expect objective, reproducible endpoints; SaMD frameworks maturing) + demand (ageing, global shortage) + technology (clinical AI crossed the reliability threshold).
Financials

Revenue up 3x since 2022, on efficient capital

€604K
Recognised revenue 2025
+49% YoY · 3x since 2022
€848K
Billings 2025
+145% YoY · cash booked ahead of revenue
64%
Capital raised non-dilutive
Grants and soft loans, low dilution
€632K
Capitalised R&D 2025
IP built, not expensed
Recognised revenue trajectory
2022 €197K → 2023 €359K → 2024 €405K → 2025 €604K
Billings (€848K) and signed bookings (€903K) run ahead of recognised revenue: multi-year pharma contracts are recognised over 2026-2027.
Three lenses on the same business
ARR €401K = recurring software run-rate · Recognised €604K = what hit the 2025 P&L · Signed TCV €903K = contracted future revenue. All three grow; ARR is lower because it excludes one-off pharma projects.
€6.6M raised to date, 64% non-dilutive: capital-efficient for the stage. The Series A funds the path to operating profitability, targeted 2028. Full P&L, balance sheet and model in the data room.
Unit economics

Recurring software, multi-year contracts, low churn

Care providers & insurers
Annual recurring SaaS license, priced per site and per use. Land-and-expand across a hospital group or insurer network.
ACV: TBD
Pharma & CROs
Per-study endpoint contracts, often multi-year framework agreements. Highest value per account.
ACV: €50K-€130K per study
Expansion
Land-and-expand within accounts grows revenue per customer year over year, on top of 92% retention.
Net revenue retention: TBD
Gross margin
TBD
Software delivery: no hardware, no per-procedure cost. Margin scales with volume.
Revenue mix
~66% / ~34%
Recurring (hospital + insurance) vs project (pharma studies). Recurring share growing.
Team

The team that builds and sells

Legit.Health founding team

27 people today. Five co-founders, 5+ years together: commercial, clinical, technical and product vision in the same founding team.

Andy Aguilar  CEO
Forbes 30 Under 30 · Top 10 Most Visionary Women
Alfonso Medela  Chief AI Officer
Deep-learning lead
Taig Mac Carthy  COO
Product, design and operations
Antonio Martorell, MD  Chief Medical Officer
Practising dermatologist · medical-device regulatory lead
Gerardo Fernández  CTO
Technical infrastructure · AI platform
Senior team

A senior bench that has done it before

Beyond the five co-founders, a senior layer hired since the seed round, each having already done at scale what the company needs next: commercial growth, regulatory clearance and international expansion.

Giuseppe Razzani
Giuseppe Razzani  BD Director
Built a €3.5M ARR portfolio at DocPlanner
Saray Ugidos
Saray Ugidos  RA/QA Manager
BSI Lead Auditor ISO 13485; CE marking and FDA clearances at prior medtechs
Alejandra Salat
Alejandra Salat  Head of Legal
From the team that took TravelPerk to unicorn; ESADE professor
Chris McKee
Chris McKee  UK Sales Director
PhD in oncology; NHS Trust business development
Alba Santacreu
Alba Santacreu  Head of People
Scaled Adsmurai from 28 to 200
And a broader team across product, AI, regulatory and operations.
Why now

Four converging catalysts

It is not just that the product is ready. It is that the market, regulation and demand converge at the same moment.

Regulation · EU MDR
The bar on validated performance is rising
MDR now demands objective endpoints; the window to set the standard is open.
Regulation · US FDA
FDA fast-tracking dermatology SaMD
The US is 10x Europe, and the FDA 510(k) path is clear; the round funds the submission.
Demand · structural shortage
127-day waits are not solved by hiring more doctors
The shortage is structural; the fix is equipping GPs and payers, not hiring more specialists.
Commercial validation
J&J has signed. Boehringer has signed. BUPA already renews.
Tier-1 pharma do not sign multi-year deals unless the product works. The rest is execution.
Cap table

Founder-controlled, backed by strategics

Capital raised to date: €6.6M
Non-dilutive · 64%
Equity · 36%
€4.23M non-dilutive (€3.44M grants + €795K soft loans) · €2.38M equity (pre-seed + Seed, lead Mutua Ventures).
Ownership · fully diluted
Founders ~70%
Investors ~30%
Five co-founders retain majority control, with an ~8% ESOP pool for new hires.
Existing investors
Mutua Ventures Ribera Salud Telefónica Open Innovation Angels Capital Biozell Ventures
Strategic healthcare and telco backers already on the cap table. Mutua Ventures (seed lead) commits pro-rata to the next round.
The opportunity

Series A

Raising a Series A to scale a proven platform: US commercial launch (post-FDA), European expansion, and the predictive / phenotyping roadmap.

Instrument · terms
Amount
TBD
Instrument
Series A (priced equity)
Target close
TBD
Anchor investor
Mutua Ventures (pro-rata)
Use of funds
US commercial + FDA
EU commercial scale
R&D
Team & ops
Milestones it unlocks
Now
€401K ARR, on track to €1M
With Series A
US launch post-FDA clearance, EU scale
Revenue today, tier-1 customers that renew, regulation that advances. The round accelerates what is already happening.
Andy Aguilar, CEO
Andy Aguilar, CEO  ·  andy@legit.health