CardioSignal Raises $10 Million in Series A Financing

CardioSignal is now $10 million richer, having raised that amount during a Series A funding round led by DigiTx Partners, with participation from Sandwater and existing investor Maki.vc.

CardioSignal has raised $23 million total to date. The latest Series A investment will be used to finance additional clinical validation of CardioSignal’s technology and expand its commercial efforts.

“More than 20 million people die each year from cardiovascular diseases. This funding enables us to scale a detection and remote monitoring solution for primary care doctors and their patients. Currently, primary care has very limited tools to detect heart diseases, like heart failure patients who are often already experiencing symptoms. We can support the shift in cardiovascular care from treating complications to earlier detection and prevention,” CardioSignal Founder/CEO and cardiologist Dr. Juuso Blomster, said.

In exchange for its financial support, DigiTx Managing Director David J. Kim, M.D., is joining CardioSignal’s Board of Directors. 
 
CardioSignal develops digital technologies and software-as-medical-devices to provide early detection of heart diseases, and provides technology to detect several major heart diseases with high accuracy using just one clinical modality without any specialized medical equipment.Its technology harnesses gyroscope and accelerometer motion data from smartphones to measure specific rotational movements of the heart that can be used to accurately detect abnormal heart function. The analysis occurs using a smartphone placed on the patient’s chest for a one-minute measurement. A clinically validated algorithm analyzes the motion data in a secure cloud service and provides immediate results.
 
The company has 52 patents covering its method and clinical algorithms, which are based on gyrocardiography and have been heavily researched and documented in more than 20 peer-reviewed scientific publications.
 
Currently, CardioSignal’s technology produces digital biomarkers validated in clinical studies for atrial fibrillation (A-fib) and heart failure, with additional development ongoing for aortic stenosis, coronary artery disease, and pulmonary artery hypertension. The CardioSignal application is already available in 15 countries as a class IIa medical device for detecting signs of afib.
 
“CardioSignal has the potential to impact heart disease on a global basis. Besides the ability to detect various heart diseases, which continue to be one of the common causes of death, CardioSignal has lowered the barrier to the adoption of its technology by making it readily available to all individuals who have smartphones. We can reach millions of at-risk patients and make a real impact,” Kim said.
 
CardioSignal is a brand and a product by Precordior Ltd., an ISO 13485 and 27001 certified health technology company formed in 2017 and headquartered in Turku, Finland. Subsidiary CardioSignal Inc is based in Palo Alto, Calif. CardioSignal develops solutions for the detecting heart diseases using digital cardiac biomarkers. Originally an academic spin-off, the company’s patented gyrocardiography technology is built on a decade of research and algorithm development.