CoreMap announced today that it closed an oversubscribed $37 million Series C financing round led by medtech giant Medtronic.
Alongside Medtronic, both existing and new investors participated in the financing round. It supports the company’s precise, data-driven tools for guiding AFib ablation.
Burlington, Massachusetts-based CoreMap develops a proprietary, high-density mapping technology and advanced data analytics platform. It designed its electrophysiology mapping system designed to provide physicians with AF ablation guidance based on large data sets of highly accurate electrical activation data.
The company said the funding reflects strong confidence in its platform.
Medtronic’s investment reflects its interest in supporting the technology, just weeks after investing in thrombectomy technology from RapidPulse. The company itself is one of the top competitors in the hot pulsed field ablation (PFA) space.
Commentary from CoreMap and Medtronic officials
Sarah Kalil, CoreMap CEO and co-founder, said:
“The successful completion of this financing is a significant milestone for CoreMap. [AFib] remains one of the most significant unsolved challenges in electrophysiology, and physicians need better data to guide treatment decisions and improve patient outcomes. This investment provides the resources to accelerate CoreMap’s next-generation [AFib] mapping platform’s time to market. This financing enables us to continue pursuing that vision with urgency and purpose.
“Our goal is simple: to provide electrophysiologists a clearer understanding of AF so they can deliver more targeted, personalized treatment. We are grateful for the support of our investors and energized by the opportunity ahead.”
Chris Eso, global head of Corporate and Business Development, M&A and Ventures at Medtronic, said:
“CoreMap is addressing one of the critical unmet needs in [AFib] treatment with a differentiated technology platform and strong clinical support. We are excited to support Sarah and the CoreMap team as they advance the company through its next stage of growth.”
