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HomeFUNDINGAliveCor Closes $65 Million Series E Financing: To Accelerate Growth of Its Remote Cardiology Platform For Consumers, Employers, & Providers

AliveCor Closes $65 Million Series E Financing: To Accelerate Growth of Its Remote Cardiology Platform For Consumers, Employers, & Providers

November 16, 2020

AliveCor today announced their $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 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.”

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Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

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