HeartVista, a pioneer in AI-assisted MRI solutions, today announced the closing of a $8.65M Series A financing round. The round was led by Khosla Ventures, Jeff Rothschild, Leslie Ventures, Open Field Capital, and additional investors. Combined with several grants from the National Institutes of Health (NIH), this latest raise brings the company’s total funding to $16.35 million.
One-Click MRI Solution
Despite the many advantages of manual cardiac MRI, its use has been largely limited due to a lack of trained technologists, high costs, long scan time, and complexity of use. HeartVista believes in leveraging artificial intelligence to improve access to MRI and improve patient outcomes.
HeartVista’s software solves these issues by using AI-assisted software to prescribe the standard cardiac views with just one click, and in as few as 10 seconds, while the patient breathes freely. The software also leverages a novel neural network that helps detect artifacts on scans and alerts physicians when the image quality is below the acceptable threshold.
The additional capital will go towards building AI-guided musculoskeletal and neural packages, expanding HeartVista’s sales, marketing and regulatory operations worldwide, deepening strategic partnerships with the world’s most renowned cardiology centers, and enhancing its core One-Click™ Cardiac Package.
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The new funding will also enable HeartVista to offer free usage of its software for the duration of the COVID-19 pandemic. Hospitals in dire need of operational efficiencies and increased capacity will be able to scan more patients with fewer technicians, freeing up scarce resources. Additionally, the company will offer free remote cardiac scanning services to providers who lack the staff to run the MRI machines.
The last year was an inflection point for HeartVista, which was full of significant milestones as the company received its fifth FDA 510(k) clearance for its AI-assisted One Click™ Cardiac Package, appointed Itamar Kandel as CEO, formed its Medical and Scientific Advisory Board, and expanded its Board of Directors to include Mark Leslie, former Chairman and CEO of VERITAS Software.
Source: HIT Consultant