Eko Expands Algorithmic Heart Problem Detection And Lands $30M Series C Extension
03/22/22, 6:14 PM
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series c
The stethoscope has come a long way from its humble beginnings in the 19th century. The regular acoustic type is still used every day, but it’s been joined by a panoply of digital options that can amplify or convert heart sounds into electrical signals. Eko, a company founded in 2013, has focused on bringing applied AI into the stethoscope space. Now there’s real-world data to suggest that the company has made progress, and it has secured a $30M extension to its earlier C round to continue its work.
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Now there’s real-world data to suggest that the company has made progress, and it has secured a $30M extension to its earlier C round to continue its work. But the company has also been tweaking some FDA approved clinical support algorithms. (A company earns this when it demonstrates that its tech is similar to what is already out there). But so far, the company has focused on devices and clinical tools. As COO Jason Bellet told TechCrunch after the closing of Eko’s series A round in 2019, the company was really going after “screening for structural heart diseases and heart failure.”Heart failure affects about 7 million people in the US, and is expected to reach 8 million by 2030. The company has made progress on that front, but has not yet received FDA clearance to use the algorithm clinically. That extension will allow the company to support further commercialization efforts and develop new products, said Landgraf.