Cleerly raises nearly $200 million in fundraise led by T. Rowe Price, Fidelity
2022.07.25 17:54
Cleerly raises nearly $200 million in fundraise led by T. Rowe Price, Fidelity – Budrigannews.com
Cleerly, a New York-based health tech startup, has raised $192 million in a funding round led by investment firms T. Rowe Price and Fidelity Management & Research Company LLC.
The fundraise announced on Monday also includes billionaire venture capitalist Peter Thiel, Mirae Asset Capital, Cigna (NYSE:CI) Ventures, Piper Sandler’s Merchant Banking and Sands Capital. Cleerly did not disclose the valuation it fetched in the round.
While a selloff in equities on fears of a global economic slowdown has dried up funding for late-stage startups in recent months, the healthcare sector continues to be resilient due to investor interest sparked by the COVID-19 pandemic.
“We do not take for granted that nearly all of our series B investors also invested in our series C, in this current economy,” Founder and Chief Executive James Min told Reuters.
Cleerly offers artificial intelligence-powered imaging to analyze heart scans. The company plans to use the fresh funds to expand its existing team, tap a wider commercial market and conduct additional large-scale research.
Parker Cassidy, partner at Sands Capital, told Reuters he expects the capital to drive Cleerly’s clinical evidence development and establish a new standard of cardiac care.
The latest round brings the total capital raised by the healthcare company so far to $248 million.
