HeartFlow Inc. has raised a fresh funding round that puts the company’s valuation over $1.5 billion.
Wellington Management and Baillie Gifford led the a $240 million Series E, with participation from existing investors including the venture arm of HealthCor Partners Management. This brings the company’s total funding to date to about $475 million.
Founded in 2007, HeartFlow has developed cloud-based software to aid cardiologists in coronary artery disease diagnosis, which affects some 400 million people world-wide. Using data from CT scans, HeartFlow’s platform creates a 3-D model of coronary arteries and applies algorithms to examine blockages in blood flow.
The Redwood City, Calif.-based company has been in beta for the last three years in 80 health-care centers in the U.S. and abroad. Results of clinical trials show the technology helps reduce unnecessary angiograms or invasive procedures, and shortens the turnaround time to diagnosis.