Cleerly Secures $106M in Funding from Insight Partners for AI-Powered Heart Health Early Detection
Cleerly, a cardiovascular imaging startup, has announced a significant $106 million Series C extension round led by Insight Partners, with participation from Battery Ventures. This funding comes just over two years after the company raised $223 million in a previous Series C round.
The venture aligns with Cleerly’s mission to improve the early detection of coronary artery disease, a pressing health issue as heart disease remains the leading cause of death in the U.S. Many individuals experiencing heart attacks are often unaware they have underlying heart conditions. Cleerly’s AI-driven technology analyzes CT scans of the heart to identify early-stage coronary artery disease, akin to how mammograms screen for breast cancer.
Founded by cardiologist James Min in 2017, Cleerly grew out of a clinical program established in 2003 at New York-Presbyterian Hospital/Weill Cornell Medicine. Min emphasized the need for proactive screening, stating, “The majority of people who will die of heart disease and heart attacks will never have any symptoms.”
Currently, Cleerly is conducting a large multi-year clinical trial to validate their screening approach against existing methods such as measuring blood pressure and cholesterol levels, which may fail to effectively detect heart conditions in asymptomatic individuals. Success in gaining regulatory approval could drastically expand Cleerly’s market reach.
The investment interest in Cleerly highlights its growth potential. The company’s algorithms have already received approval for diagnosing symptomatic patients, and in October, Medicare approved coverage for its plaque analysis test, which detects plaque build-up—a common precursor to heart attacks.
Cleerly’s AI analysis is less invasive than traditional diagnostic methods like stress tests or coronary angiograms. As it stands, the software has been commercially available for four years and has witnessed over 100% compound annual growth, now targeting approximately 15 million individuals presenting with heart problems annually.
Despite facing competition from other entities like HeartFlow and Elucid, Cleerly aims to capture a significant portion of the market focused on screening older adults for heart conditions, emphasizing that there is room for multiple successful players in this critical sector.
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