Originally published by Mobi Health News on July 26, 2022
Cardiovascular disease-focused Cleerly scored $192 million in Series C financing, a little more than a year after the company launched with a $43 million Series B.
The latest round, led by T. Rowe Price and Fidelity Management and Research Company, brings Cleerly's total raise to $248 million.
Other participants in the round include Sands Capital, Piper Sandler’s Merchant Banking and Heartland Healthcare Capital funds, Mirae Asset Capital, Peter Thiel, Breyer Capital, Novartis, Vensana Capital, LRVHealth, New Leaf Ventures, Cigna Ventures and DigiTx Partners.
The company offers an AI-backed tool that evaluates CT angiograms for plaque build-up on the heart arteries' walls, which Cleerly pitches as a way to catch heart disease early. It will use the Series C capital to expand its team and commercial capabilities as well as invest in research.
"At Cleerly, we are passionate about our mission to create a new standard of care for heart disease," CEO and founder Dr. James Min said in a statement. "We are grateful for this round of financing that will further enable our work and believe it provides a resounding vote of confidence in our vision for the future of cardiovascular care.
"The status quo for heart health simply isn’t good enough – for patients, providers, or payors – and our proven approach to examining for early signs of heart disease through the build-up of arterial plaque promises to deliver the change we need right now."