Cleerly has claimed an additional $106 million in funding to boost the reach of its artificial intelligence programs for cardiovascular imaging as it aims to capitalize on recent gains in reimbursements and Medicare coverage.
The nine-figure total comes as an extension to its prior series C fundraising; it was led by Insight Partners and joined by Battery Ventures. Previously, Cleerly collected $223 million in mid-2022 through a round backed by T. Rowe Price Associates and Fidelity Management in addition to Novartis, Cigna’s VC arm, Peter Thiel and other investors.
Cleerly’s FDA-cleared AI takes CT scans of the heart and analyzes the findings for signs of coronary artery disease. The former Fierce 15 winner’s programs aim to spot plaque buildups inside the blood vessels and calculate the patient’s risk that they may cut off oxygen supply to the cardiac muscle.
“We are very excited to see our purpose-driven mission come to life, making advanced cardiac care accessible to more patients and working towards our goal of eliminating heart attacks,” Cleerly’s founder and CEO, James Min, M.D., said in a statement.
In October, Cleerly secured a Category I CPT code from the American Medical Association for its quantitative, AI-powered plaque analysis, which is set to take effect in January 2026 as the culmination of a more than five-year process. The company was previously included under temporary Category III codes in 2020.
Earlier that month, the company said that five of seven Medicare administrative contractors approved its scans for patients with chest pain being diagnosed with coronary artery disease.
That coverage took effect Nov. 24 among the Palmetto GBA, CGS Administrators, National Government Services and WPS administrative groups, and is set to kick in Dec. 8 for Noridian. Together, they account for about 67 million Medicare beneficiaries.
“Until Cleerly, healthcare providers have not had a way to easily and completely assess the primary cause of heart attacks, atherosclerotic plaque burden and type, in a noninvasive way, which is especially important for our senior population,” Min said at the time. “This decision by the MACs represents a significant step in advancing the field of cardiology, and providing the best possible care for our seniors.”
Cleerly also received a breakthrough designation from the FDA this past March for its approach in staging coronary artery disease and heart disease risk.
“Cardiovascular disease is the #1 cause of death globally and costs our country $422 billion annually,” said Scott Barclay, managing director at Insight Partners. “Cleerly’s software is able to precisely identify heart disease by analyzing non-invasive images—just like the revolutionary new technologies, mammograms and colonoscopies, that provide early detection for breast and colon cancer, respectively.”