Cardiologs Secures $15 Million Series A Funding to Enhance AI-Powered Cardiac Diagnostics Platform

VCBeat (WeChat ID: vcbeat) learned from foreign media that on January 10, 2020, healthcare company Cardiologs completed a $15 million Series A financing round. The round was led by Alven Capital Partners, with participation from Bpifrance, Idinvest Partners, Kurma Diagnostics, ISAI, and Paris Saclay Seed Fund.

It is reported that since its establishment in 2014, Cardiologs has raised a total of $23 million in funding, having completed five financing rounds in 2014 and 2015. The proceeds from this round will be used to expand the sales of Cardiologs’ cardiac health monitoring platform and products in North America and Europe, as well as to enhance the overall performance of the cardiac health monitoring platform.

Cardiologs is a medical technology company headquartered in Paris, France, dedicated to transforming cardiac diagnosis through medical-grade artificial intelligence and cloud technologies. Cardiologs is the first company to obtain the CE mark for a medical device based on deep learning technology, and it remains the only company offering a deep learning solution for ECG analysis.

Since its founding in 2014, Cardiologs has collaborated with cardiologists and physicians to develop a database integrating approximately 1.5 million electrocardiogram (ECG) records, leveraging deep learning algorithms to identify patient types and diagnose heart disease. Data obtained from Holter monitors or ECG devices used to track cardiac activity are input into the Cardiologs system for analysis. The Cardiologs Clinical Decision Support System (CDSS) then assists physicians in detecting abnormalities in patients’ cardiac activity, and the Cardiologs platform can reduce the false-positive rate for atrial fibrillation detection by a factor of 20.

Yann Fleureau, Co-Founder and CEO of Cardiologs, stated: “Cardiologs’ products leverage artificial intelligence to eliminate numerous tedious and labor-intensive tasks, increase the throughput of diagnostic centers, thereby accelerating the turnaround time for diagnostic results, while reducing costs and enhancing accuracy.”

Alven partner Francois Meteyer stated, “Cardiologs possesses unique software that leverages cutting-edge technology to integrate deep learning with clinical diagnostic science, thereby driving substantial transformation in the speed, cost, and accuracy of diagnosis.”

Alven Capital Partners, established in 2003, is a private equity firm specializing in acquisitions and recapitalizations, primarily investing in rapidly growing companies in the arts and sciences sectors.

Idinvest Partners, established in 1997 and headquartered in Paris, France, is a private equity firm.

Kurma Diagnostics, founded in 2009 and headquartered in Paris, France, is an investment fund focused on life sciences and healthcare.

ISAI, established in 2009 and headquartered in Paris, France, is a technology entrepreneur fund focusing on early-stage internet startups and small-scale tech private equity transactions.

The Paris-Saclay Seed Fund, established in 2017, is an investment fund initiated by Université Paris-Saclay.

(Compiled by: Chang Jia)