AliveCor Raises $5.8 Million in New Funds, SEC Filing Reveals

AliveCor ECG
Image: AliveCor

Mobile ECG maker AliveCor has raised $5.78 million in new funds, according to an SEC filing. First spotted by Exits & Outcomes’ Brian Dolan, the filing lists the company’s total offerings at $9.1 million, leaving roughly $3.4 million left on the table to be sold to potential investors. This investment grows on the Mayo Clinic and Omron Healthcare-led $30 million funding the company raised in 2017, reports MobiHealthNews. The company hasn’t yet said how it will use the new funds.

AliveCor focuses on single- and six-lead smartphone ECGs and AI-based reading interpretations. The company’s latest product, KardiaMobile 6L, delivers six times more data. KardiaMobile 6L has two electrodes on the top for your fingers, and one on the bottom to contact the skin of your left leg. KardiaMobile 6L delivers EKG leads I, II, III, aVL, aVR, and aVF. All without messy gels and wires. When the user places his or her thumb on the device’s front electrodes, a third node on the back is pressed against the user’s knee or ankle. This enables the technology to give cardiologist six perspectives on the heart’s electrical activity.

AliveCor ECG
Image: AliveCor

Read more AliveCor Stops Selling KardiaBand, Its ECG Accessory for Apple Watches

KardiaMobile 6L detects AFib, Bradycardia, Tachycardia & Normal heart rhythm. It provides doctors more detailed heart information and visibility into certain arrhythmias that are leading indicators of cardiovascular disease, the company says.

The company’s KardiaAI, a dual-update to its existing KardiaMobile and KardiaStation platforms for consumer and point-of-care-use recently received clearance from the US Food and Drug Administration (FDA).

In April, Complete™, a blood pressure monitor with EKG capability, which Omron developed in collaboration with AliveCor, received FDA clearance. The device is an upper arm blood pressure monitor that allows users to simultaneously monitor EKG and blood pressure readings at home. EKG readings can be measured by touching electrodes conveniently located on the top face and both sides of the monitor for easy access and comfort.