Eko, a cardiopulmonary digital health company that manufactures a digital stethoscope, today announced $65 million in Series C funding. Eko intends to use the new funding to expand in-clinic use of the company’s platform of telehealth and artificial intelligence (AI) algorithms for disease screening, and to launch a home monitoring program for people with cardiopulmonary disease.
The funding round was led by Highland Capital Partners and Questa Capital, with participation from Artis Ventures, DigiTx Partners, NTTVC, 3M Ventures, and other new and existing investors. As part of the investment, Corey Mulloy and Ryan Drant from Highland Capital Partners and Questa Capital, respectively, will join the Eko board of directors.
Eko was founded to improve heart and lung care for consumers through advanced sensors, digital technology, and novel AI algorithms. The company reinvented the stethoscope and introduced the first combined handheld digital stethoscope and electrocardiogram (ECG). Eko’s FDA-cleared AI analysis algorithms help detect heart rhythm abnormalities and structural heart disease. Eko seeks to make AI analysis the standard for every physical exam. Its digital health solutions are intended to enable physicians, nurses and entire health systems to change cardiac care. It provides advanced stethoscopes, software for consumers and clinical professionals, and AI-powered analysis
During 2020, Eko announced collaborations with AstraZeneca and 3M, as well as the achievement of product milestones including clearance by the U.S. Food and Drug Administration (FDA) of its AI suite and the launch of its telehealth platform. In December 2019, Eko announced that the FDA granted Eko breakthrough status for a novel ECG-based algorithm that, if FDA-cleared, could provide an easily accessible screening test for heart failure. On January 28, 2020, Eko announced that the FDA cleared a suite of algorithms that, when combined with Eko’s digital stethoscopes enables clinical professionals in the United States to more accurately screen for heart conditions—murmur or atrial fibrillation—during routine physical exams. If left undiagnosed, these heart conditions can lead to stroke and heart failure. Eko’s AFib and Murmur screening algorithms are the first in a suite of cardiac screening algorithms that Eko plans to combine with its digital stethoscope devices to help clinical professionals detect cardiovascular conditions.
This was reported by Eko on November 9, 2020.
Contact information: Connor Landgraf Co-Founder and Chief Executive Officer, Eko, 1212 Broadway Street, Suite 100, Oakland, California 94601; 844-356-3384; Website: https://www.ekohealth.com/