AI-Powered Heart Disease Detection Startup Raises $106 Million in Extended Funding Round
Cleerly, a cardiovascular imaging startup leveraging artificial intelligence to detect early-stage coronary artery disease, has secured an additional $106 million in a Series C extension round led by Insight Partners. This latest investment follows a previous $223 million Series C round led by T. Rowe Price and Fidelity, bringing the company’s total funding to over $300 million.
Founded in 2017 by cardiologist James Min, Cleerly aims to address the critical issue of undiagnosed heart disease, which remains the leading cause of death in the United States. The company’s innovative approach utilizes AI software to analyze CT scans, potentially revolutionizing early detection of coronary artery disease in asymptomatic individuals.
Cleerly’s technology, which has been commercially available for four years, has already received FDA clearance for diagnosing symptomatic patients. The company reports over 100% compounded annual growth and recognition from payers for its ability to diagnose approximately 15 million heart problem cases annually.
To further validate its screening method, Cleerly is conducting a large, multi-year clinical trial. Success in these trials could lead to regulatory clearance for widespread screening, potentially positioning Cleerly’s approach as a standard preventive measure akin to mammograms and colonoscopies for cancer detection.
The involvement of Insight Partners in this extension round is expected to provide additional capital for growth and ongoing trials. Medicare’s recent approval of coverage for Cleerly’s plaque analysis test further underscores the potential impact of this technology on healthcare.
Cleerly’s AI-driven CT scan analysis offers a less invasive alternative to traditional diagnostic methods such as stress tests or angiograms. The support from health insurers and Medicare indicates growing confidence in the efficacy of this innovative approach.
As Cleerly continues to expand, it faces competition from other AI-focused heart health companies like HeartFlow and Elucid. However, industry experts suggest that the market potential in this field allows room for multiple successful companies.
With heart disease remaining a significant health concern, Cleerly’s progress in early detection and prevention could mark a significant advancement in cardiovascular care, potentially saving countless lives through early intervention and treatment.
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