Cardiovascular imaging company Cleerly announced it raised $106 million in a Series C funding round.

The round was led by Insight Partners and Battery Ventures, with participation from preexisting investors. 

WHAT IT DOES

Cleerly is a digital healthcare company that offers heart disease-diagnosis solutions. It developed a standard for coronary artery disease by integrating quality clinical science with the latest-generation AI.

Cleerly's AI-driven noninvasive computed tomography (CT) imaging supports comprehensive phenotyping of coronary artery disease that the company says is rooted in scientific research based on millions of medical images.

The company said it will use the funds to "scale its commercial growth and clinical evidence generation" with the aim of helping healthcare professionals improve outcomes for patients with coronary artery disease.

"We are thrilled to receive this investment from Insight Partners, marking a significant milestone for Cleerly," Dr. James Min, founder and CEO of Cleerly, said in a statement. "We are very excited to see our purpose-driven mission come to life, making advanced cardiac care accessible to more patients and working toward our goal of eliminating heart attacks."

MARKET SNAPSHOT

In 2022, Cleerly scored $192 million in Series C financing, bringing its total raise to $248 million. 

The round was led by T. Rowe Price and Fidelity Management and Research Company. 

Other participants in the round include Cigna Ventures, DigiTx Partners, Breyer Capital, Novartis, Vensana Capital, LRVHealth, New Leaf Ventures, Sands Capital, Piper Sandler’s Merchant Banking, Heartland Healthcare Capital funds, Mirae Asset Capital and Peter Thiel. 

A little more than a year before, the company launched with $43 million in Series B funding. 

Other companies in the cardiovascular imaging space include Caristo Diagnostics, which has AI-enabled platforms to aid the prediction and diagnosis of heart attack, stroke and diabetes.

Elucid Bioimaging, is an AI medical technology company focused on developing tech designed to provide physicians with a more precise view of atherosclerosis. The aim of the company’s PlaqueIQ product is to help physicians prioritize and personalize treatment based on actual disease, rather than population-based risk of disease. 

HeartFlow offers an AI-powered noninvasive integrated heart-care solution across the coronary computed tomography angiography (CCTA) pathway. HeartFlow’s suite of noninvasive technologies includes its FFRct Analysis, RoadMap Analysis and Plaque Analysis.