AliveCor Closes $65 Million In Funding To Detect Heart Problems With AI

AliveCor, a startup developing algorithms to detect health issues from heart rate readings, announced a $65 million raise in series E financing, led by existing investors OMRON, Khosla Ventures, WP Global Partners, Qualcomm Ventures and Bold Capital Partners. The company says they will use the funds to support growth of their remote cardiology platform around the world.

The company plans to use its AI-powered ECG determinations along with telehealth services, and add detection and condition management services for medical providers. A partnership with OMRON will also allow AliveCor to include hypertension management within its service offerings.

AliveCor’s first device was an FDA-cleared smartphone case that worked as an ECG, the company later released the KardiaMobile units. The company says they have sold over a million KardiaMobile devices globally, recording over 85 million ECGs.

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According to Venture Beat, “AliveCor’s first products relied on doctors to analyze the readings, the company received clearances from the FDA in 2015 to provide algorithmic analyses of readings. By 2017, AliveCor’s software was using AI models to “train” its products to identify heart problems.”

The company says the vast amount of data they have collected gives them an “advantage in building new AI-based services to drive a new age of advanced and improved cardiological care”. AliveCor’s AI does have a track record of being fairly good, in 2017 the AI was almost 4x better than general practitioners at detecting atrial fibrillation.

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