Cleerly, a cardiovascular disease evaluation company, announced it secured $192 million in Series C funding.
The infusion represents one of the largest digital health funding rounds of the year.
T. Rowe Price Investment and Fidelity led the round. It brings Cleerly’s total funding to $248 million. Dr. James Min, Cleerly’s founder and CEO, credited the size of the deal, in part, to the company providing value to payers, providers and patients.
The company uses AI-enabled algorithms on the CT scans of patients presenting with symptoms that indicate a heart attack to quantify and describe atherosclerotic plaque in arteries.
Min said it would use the capital to fund current and additional clinical trials, educate providers and expand the company’s team and commercial reach.
“Heart doctors have never actually measured heart disease,” said Min, who previously worked as a cardiologist. “We haven’t had a good non-invasive tool that has allowed us to personalize the evaluation of somebody’s heart disease burden.”
After analyzing the scan, the company disseminates results to various stakeholders, including providers and patients. Min said the process aids communication among providers with different skills.
While the majority of Cleerly’s customers operate under a fee-for-service model, Min anticipates the company’s value-based care customer base to be roughly equal in 12 to 18 months.