Cleerly plans to use the funding to scale its commercial reach and pursue strategic partnerships. Here are the top-line bullets you need to know.
Cleerly, a digital healthcare company, has raised $43M in a Series B that drew participation from Vensana Capital, LRVHealth, and Cigna Ventures, among others.
HOW’S THE COMPANY PERFORMING?
- New York-based Cleerly is a cardiology diagnostics company that leverages AI to analyze heart scans and determine the presence, degree, severity, and type of coronary artery disease, among other cardiovascular diseases.
- The company’s algorithm leverages a database of millions of annotated lab images as well as clinical data from more than 50,000 patients in trials.
- It aims to establish a broad multinational registry with the goal of enrolling more than 200,000 patients over a span of 10 years.
WHY DOES THE MARKET MATTER?
- The digital health market is projected to grow at a CAGR of 28.5% to reach a value of $639B by 2026, according to Global Market Insights.
- The impact of Covid-19 on healthcare infrastructure, technological advancements, and the changing virtual care ecosystem has accelerated the growth of the telehealth industry.
- Q1’21 continued to see strong investor interest following 2020’s record highs, boosted by notable $100M+ healthcare investments and exits. Key themes that emerged over the quarter included the increasing role of data analytics, consumer-centric healthcare, and Medicare & Medicaid solutions in driving efficient care delivery.