Electrocardiogram app startup AliveCor raises $30M in new funding

kardia

Smartphone-enabled electrocardiogram system startup AliveCor Inc. has raised $30 million late-stage funding round led by medical device maker Omron Healthcare and the Mayo Clinic.

Founded in 2010 and led by former Microsoft Corp. and Google Inc. executive Vic Gundotra, AliveCor offers a device and application that will turn any smartphone into a clinical-quality electrocardiogram recorder.

Along with its heart rate measurement, the company also offers Kardia Pro, a device that is claimed to be an industry-first artificial intelligence-enabled platform for doctors to monitor patients for the early detection of atrial fibrillation. The condition involves a quivering or irregular heartbeat, or arrhythmia, that can lead to blood clots, stroke, heart failure and other heart-related complications.

“Heart disease is the No. 1 cause of death in the United States, claiming more lives than all forms of cancer combined,” Gundotra said in a statement. “To manage heart disease and stroke risk, leading cardiologists want to see more than just ECGs from their patients.”

Gundotra said the Kardia Pro tracks key measures of physiology such as weight, activity and blood pressure. “For the first time, AI technology is used to create a personal heart profile for each user, enabling user identification,” he said. “The new platform enables doctors to be better doctors and patients to be more active participants in their own heart health.”

The device itself has received Food and Drug Administration approval and can be installed on the strap of a smartwatch or be used on its own.

Including the new Series D round, AliveCor has raised $43.5 million to date. Previous investors include Bold Capital Partners, Burrill & Co., Khosla Ventures, Oklahoma Life Science Fund and Qualcomm Ventures. The company said it would use the new funding to accelerate innovations in heart health and continue the expansion of the business.

Photo: AliveCor