After a meteoric rise followed by a humbling retreat, cardiac AI vendor HeartFlow is back in the news, and has come out swinging with a $215m Series F funding round.
The round was led by first time HeartFlow investor, Bain Capital Life Sciences which was joined by another newcomer, Janus Henderson, as well as existing investors including Baillie Gifford and Capricorn investment group. The deal brings the vendor’s total funding raised to almost $800m, making it by far the medical imaging AI vendor with the deepest pockets. It marks the second time HeartFlow has raised more than $200m in a single funding round, and will, in lieu of a windfall from last year’s failed IPO, equip the vendor with enough cash to commercialise and scale new products in its portfolio.
Some problems, however, cannot be solved by money alone, a fact that HeartFlow needs to be conscious of given growing competition in the cardiac AI market.