Eko Closes $20M in Series B
BERKELEY, CA, Eko announced it has secured $20 million in Series B funding led by ARTIS Ventures.
Eko, a Silicon Valley-based digital health company building machine learning tools to fight heart disease, today announced it has secured $20 million in Series B funding. Led by ARTIS Ventures, the funding will drive further research and development and commercialization of Eko's machine learning platform for cardiac screening and analysis. Additional new and returning investors in the round include DigiTx Partners, NTT Venture Capital (NTTVC), 3M Ventures, Mayo Clinic, Seraph Group, and XTX Ventures.
Statistics from the American Heart Association show that cardiovascular disease is the leading global cause of death, accounting for more than 17.6 million deaths per year in 2016, a number that is expected to grow to more than 23.6 million by 2030.
"With the staggering number of people affected by heart disease, it's clear that advancements in cardiac screening and monitoring have never been more urgent. Artificial intelligence is arguably one of the most powerful advancements in modern medicine, enabling clinicians to predict with more accuracy, diagnose with more confidence, and in the end, give their patients the best care possible," said Connor Landgraf, CEO of Eko. "We will use this funding to drive more research, and continue development of data-driven technology to help physicians detect and monitor patients with heart disease that may otherwise be missed."
Eko is collaborating with medical device and pharmaceutical companies to create combinations of therapies and data to help personalize cardiac care. Eko will also grow its focus on clinical research, investing more in its collaborations with the Mayo Clinic, Northwestern Medicine, and UCSF. Expanding Eko's collaborative studies will enable the company to build algorithms with more robust datasets targeted to specific conditions, including atrial fibrillation and valvular heart disease, as well as congestive heart failure and structural heart disease.
Eko Offers Unprecedented Insight into Cardiac Function, Helps Treat Millions of Patients
Eko has developed the first cardiac monitor to combine digital stethoscope and ECG technology both for in-clinic and at-home monitoring, which enables patients to seamlessly and consistently send cardiac data to their physicians. Its platform is used by tens of thousands of clinicians treating millions of patients at over 3,000 hospitals and providers around the world.
"Eko is transforming cardiac care as we know it," said Vasudev Bailey, PhD, partner at ARTIS Ventures. "They are the perfect example of how machine learning using quality data sets can positively influence patient outcomes and improve quality of care. This demonstrates the potential for an immense pipeline of life-saving applications where sound can aid in the screening of many other diseases."
Collaborating with the Leading Healthcare Providers
Eko has partnered with some of the most respected healthcare clinics to change how cardiac care is managed, including:
Mayo Clinic is collaborating with Eko to develop and commercialize a machine learning-based algorithm that screens patients for the presence of a low ejection fraction - a weak heart pump. Once identified, evidence-based treatments are available that prolong life and reduce the risk of symptoms
Northwestern Medicine is partnering with Eko on a study to improve valvular heart disease screening using machine learning, with plans to further expand this study in the coming year
Sutter Health is currently using Eko's enterprise software in Northern California to connect cardiologists in Sacramento with patients who visit rural clinics for ongoing cardiology services
Eko's cardiac screening algorithms are in development and have not been FDA-Cleared. For more information about Eko visit https://ekohealth.com/.
Eko is building software, devices, and analysis algorithms for in-clinic heart disease screening, telemedicine, and monitoring patients at home. Its FDA cleared platform is used by thousands of clinicians treating tens of millions of patients around the world, and its most recent product, the Eko DUO, was named a 2019 Fast Company World Changing Ideas Finalist. Eko was founded in 2013 by Connor Landgraf, Jason Bellet, and Tyler Crouch. For more information visit ekohealth.com or email firstname.lastname@example.org.
About ARTIS Ventures
ARTIS Ventures (AV) partners with entrepreneurs who are driven to impact the world by reshaping and reinventing industries. The team supports its portfolio companies through their entire life-cycle, from initial venture investment to public offering and beyond. As an early leader in the emerging TechBio sector, ARTIS funds companies that sit at the intersection of computer science and life science, applying engineering principles and data-enabled discovery to the healthcare space. Notable companies the firm has backed include YouTube, Modern Meadow, Nimble Storage, StemCentrx, Palantir, IDbyDNA, Versa Networks, Cohesity, Locus Biosciences, and more. For more information visit www.av.co or email email@example.com.
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