Cardiologs, the Boston- and Paris-based startup behind AI software that can detect and diagnose heart conditions, has secured $15 million in Series A funding.
The round was led by Alven, a venture capital firm in Paris. Previous backers Bpifrance, ISAI, Kurma Diagnostics, Idinvest Partners and Paris Saclay Seed Fund also participated in the round.
Founded in Europe in 2014, Cardiologs has its U.S. headquarters in Boston. The startup's premier product is Cardiologs ECG Analysis Platform, a cloud-based cardiac monitoring-analysis web service powered by AI that aids physicians in screening for atrial fibrillation and other arrhythmias. The software received FDA approval in 2017. It also has CE marking in Europe, which indicates the product has been assessed by the manufacturer and deemed to meet European Union safety, health and environmental protection requirements.
The funding will be used to hire 12 people across the sales, marketing, customer success and operations teams in the Boston office by the end of the year. A press release from Cardiologs notes that lead investor Alven has a "track record of investing in and expanding into the U.S." tech startups founded by French entrepreneurs.
"With its unique software built around a cutting-edge technology that blends deep learning with diagnostic clinical science and workflow, Cardiologs is already improving a traditionally manually-processed industry to generate substantial improvements in the speed, cost and accuracy of diagnostics," François Meteyer, a partner at Alven, said in the release. "We're excited to support this European-rooted global business in its development."
