AI company Ultromics secures $55 million in Series C funding for its AI-centered cardiology solutions.
Ultromics Secures $55 Million in Series C Financing to Revolutionize Cardiology
Ultromics, a pioneering AI-driven cardiology company, has secured $55 million in Series C financing, co-led by L&G, Allegis Capital, and Lightrock, with additional support from Oxford Science Enterprises and UCHICAGO Medicine's UCM Ventures. This funding round underscores the significant opportunity for cutting-edge technology to transform the detection and treatment of cardiovascular diseases.
Ultromics, under the leadership of Ross Upton, PhD, CEO and Founder, has developed one of the first commercially available AI-powered diagnostic echocardiogram technologies. The company's flagship platform, EchoGo, analyses echocardiogram data with AI to identify hidden disease signals, significantly improving the early detection of heart failure with preserved ejection fraction (HFpEF) by 73.6% over traditional risk scores.
The EchoGo platform generates real-time probability scores and is fully reimbursed under Medicare, facilitating broad clinical adoption in U.S. hospitals and echo labs. In addition, Ultromics has partnered with major institutions like the Mayo Clinic and Northwestern to build regional networks, expanding access to specialist care.
For cardiac amyloidosis—a rare progressive heart failure caused by abnormal protein deposits—Ultromics, in collaboration with the Mayo Clinic, has created an AI model that screens for the disease using a single echocardiography video clip. This model demonstrates 85% sensitivity and 93% specificity across various amyloidosis subtypes, outperforming standard clinical and echocardiographic screening methods.
Ultromics' AI technology helps clinicians identify high-risk patients earlier, enabling intervention before disease progresses. Victor Westerlind, Managing Director at Allegis Capital, recognizes the potential of Ultromics' platform to make it easier for physicians to identify high-risk patients earlier, thus improving diagnostic accuracy and supporting clinical decisions.
Alastair Stewart, Head of Investments, Venture Capital, at L&G, emphasizes the critical need for scalable solutions that enable earlier, more accurate diagnosis and improve the standard of care for heart failure and cardiac amyloidosis. Umur Hursever, Partner at Lightrock, highlights the long-standing blind spot in cardiology where millions of patients with treatable heart failure are often missed due to subtle symptoms and difficult-to-interpret echo images.
The Series C funding round is a testament to the impact Ultromics' AI-driven technology is already making in the real world. It improves diagnostic accuracy, supports clinical decisions, and expands access to specialist care. With this new funding, Ultromics aims to make AI-enhanced diagnostics a standard part of cardiac evaluations, ultimately saving lives.
[1] Ultromics. (2021). Ultromics raises $55m Series C financing to revolutionize cardiology. Retrieved from https://ultromics.com/news/ultromics-raises-55m-series-c-financing-to-revolutionize-cardiology [2] Ultromics. (2021). Ultromics and Mayo Clinic Collaborate to Improve Detection of Cardiac Amyloidosis. Retrieved from https://ultromics.com/news/ultromics-and-mayo-clinic-collaborate-to-improve-detection-of-cardiac-amyloidosis [3] Ultromics. (2020). Ultromics and Northwestern Medicine Collaborate to Improve Detection of Heart Failure. Retrieved from https://ultromics.com/news/ultromics-and-northwestern-medicine-collaborate-to-improve-detection-of-heart-failure [4] Ultromics. (2019). Ultromics receives FDA Breakthrough Device clearance for EchoGo Amyloidosis and launches EchoGo Score. Retrieved from https://ultromics.com/news/ultromics-receives-fda-breakthrough-device-clearance-for-echogo-amyloidosis-and-launches-echogo-score
- This new investment in Ultromics, a leading AI-driven cardiology company, will not only revolutionize the field of cardiology but also contribute to the advancement of science and technology, particularly in the areas of medical-conditions, health-and-wellness, and cardiovascular-health.
- As the adoption of Ultromics' AI-powered diagnostic echocardiogram technologies grows, it will stimulate the health-and-wellness industry while driving the finance and investing sector, as businesses recognize the potential returns from investing in innovative health technologies.
- Fitness-and-exercise professionals may also benefit from partnering with Ultromics, as early diagnosis and intervention in heart-related medical-conditions can improve the overall health and wellness of patients.
- The development of AI models to screen for diseases like cardiac amyloidosis can have far-reaching impacts, not only improving early detection of various medical-conditions but also paving the way for future advancements in artificial-intelligence and technology.
- The improvements made in cardiac evaluations through AI-enhanced diagnostics could ultimately lead to better health outcomes, demonstrating the potential of business ingenuity in addressing critical global health challenges.
