Tuesday, 24 November 2020

AliveCor raises $65M to expand remote cardiology platform

17 November 2020 | News

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

Source credit: Shutterstock

Source credit: Shutterstock

AliveCor has announced a $65 million series E financing led by existing investors OMRON, Khosla Ventures, WP Global Partners, Qualcomm Ventures and Bold Capital Partners.

Proceeds from this financing will be used 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.

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.

“We are grateful for the continued confidence of our investors” said Priya Abani, CEO, AliveCor. “This financing speaks to the transformative power our technology brings to the healthcare system. We remain positioned to fulfil 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.”

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