What You Should Know:
Today AliveCor, the leader in AI-based, personal ECG devices and cardiology platforms, announced they closed $65 million in Series E funding to accelerate its growth.
To date, AliveCor’s FDA-cleared Kardia devices have recorded more than 85 million ECGs. Since the pandemic began, nearly 15 million ECGs were taken which is an increase of 70% year-over-year.
AliveCor, a Mountain View, CA-based provider of AI-based personal ECG technology and provider of enterprise cardiology solutions, today announced their $65 million series E financing led by existing investors OMRON, Khosla Ventures, WP Global Partners, Qualcomm Ventures and Bold Capital Partners.
Remote Cardiology Solutions
Founded in 2010, AliveCor, Inc. is transforming cardiological care using deep learning. The FDA-cleared KardiaMobile device is the most clinically validated personal ECG solution in the world. KardiaMobile provides instant detection of atrial fibrillation, bradycardia, tachycardia, and normal heart rhythm in an ECG. Kardia is the first AI-enabled platform to aid patients and clinicians in the early detection of atrial fibrillation, the most common arrhythmia and one associated with a highly-elevated risk of stroke. AliveCor’s enterprise platform allows third party providers to manage their patients and customers’ heart conditions simply and profitably using state-of-the-art tools that provide easy front-end and back-end integration to AliveCor technologies.
Recent Milestones/Expansion Plans
To date, AliveCor products have served more than one million customers around the world, and recorded more than 85 million ECGs. This vast data set gives the company a meaningful advantage in building new AI-based services to drive a new age of advanced and improved cardiological care. AliveCor believes that comprehensive services coupled with AI-powered diagnostics will have an ongoing impact on cost, quality, and most importantly on responsiveness: resolving false positives and improving response time in medical emergencies.
AliveCor plans to use funding to accelerate growth of AliveCor’s remote cardiology platform both domestically and around the world. The company’s AI-powered ECG determinations will be augmented with telehealth services, as well as with detection and condition management services for providers and institutions. The enhanced partnership with OMRON will also position the company to include hypertension management within its service portfolio.
“We are grateful for the continued confidence of our investors” said Priya Abani, CEO of AliveCor. “This financing speaks to the transformative power our technology brings to the healthcare system. We remain positioned to fulfill our vision of delivering AI-based, remote cardiological services for the vast majority of cases when cardiac patients are not in front of their doctor.”