Cleerly announced today that it closed an oversubscribed Series C financing round with proceeds of $192 million.
New York-based Cleerly has now raised $248 million in total, including its Series B round in 2021.
The company develops an AI-enabled approach for evaluating coronary computed tomography (CT) angiograms, allowing physicians to more easily identify, characterize and qualify atherosclerosis (plaque) build-up in the walls of the heart arteries. The information provided by Cleerly’s technology promotes a more accurate understanding of a patient’s risk of heart attack, shifting away from the way heart disease has previously been assessed through indirect surrogate markers of disease.
“At Cleerly, we are passionate about our mission to create a new standard of care for heart disease,” Cleerly CEO and founder Dr. James Min said in a news release. “We are grateful for this round of financing that will further enable our work and believe it provides a resounding vote of confidence in our vision for the future of cardiovascular care. The status quo for heart health simply isn’t good enough — for patients, providers, or payors — and our proven approach to examining for early signs of heart disease through the build-up of arterial plaque promises to deliver the change we need right now.”
Funds and accounts advised by T. Rowe Price Associates and T. Rowe Price Investment Management, as well as Fidelity Management and Research Company, led the funding round. Additional investors, including Sands Capital, Piper Sandler’s Merchant Banking and Heartland Healthcare Capital funds, Mirae Asset Capital, Peter Thiel, Breyer Capital, and Novartis participated.
Existing investors also joined in the funding round, including Vensana Capital, LRVHealth, New Leaf Ventures, Cigna Ventures and DigiTx Partners.
The funds will be used to enable Cleerly to expand its team and commercial reach to broaden patient and physician access to its technology-enabled care pathway across disease prevention, ranging from early diagnosis of heart disease to ensuring that ongoing treatments are effective.
Additionally, the company intends to invest in large-scale outcomes research to establish its technology as the standard of care for supporting physicians through personalized evaluation and treatment of heart disease.