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- Cleerly
Cleerly Funding, Investors & Competitors
Cleerly has raised $387M across 4 funding rounds, most recently a $106M Series C in December 2024.
Last Cleerly funding round
$106M
Series C · Dec 2024
Cumulative funding Cleerly raised
$387M
across 4 funding rounds
Key investors in Cleerly
Insight Partners
Battery Ventures
Fidelity
T. Rowe Price
New Leaf Venture Partners
LRVHealth
Vensana Capital
DigiTx Partners
About Cleerly
Cleerly is a New York-headquartered digital health company advancing coronary artery disease diagnostics through AI-powered CT angiography analysis. Its FDA-cleared software quantifies plaque volume, composition, and ischemia risk from CCTA scans, guiding preventive interventions. Adopted by cardiology centers including Cleveland Clinic and integrated with EHR systems like Epic, Cleerly processes scans in under 30 minutes to stratify patient risk and reduce heart attack incidences.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Cleerly Funding History
Cleerly has raised a total of $387M across 4 funding rounds.
Cleerly's first fundraising round was a $15M Series A in August 2017. The most recent completed round was a $106M Series C in December 2024.
Cleerly funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Dec 2024 | Series C | Insight Partners (lead); Battery Ventures | $106M | Cleerly is a digital healthcare company specializing in advanced cardiovascular imaging, using FDA-cleared AI-driven non-invasive CT analysis to phenotype coronary artery disease based on millions of medical images. The company aims to create a new standard of care for heart disease, enabling better diagnosis and treatment to prevent heart attacks. On December 4, 2024, Cleerly closed a $106 million Series C extension round led by Insight Partners, with participation from Battery Ventures and existing investors, bringing total funding to approximately $386 million including prior rounds like a $223 million Series C in 2022 led by T. Rowe Price and Fidelity. The funding will support scaling commercial growth, especially following Medicare coverage and a CPT Category I code for advanced plaque analysis, and advancing clinical evidence generation through multi-site trials. Cleerly's software has been commercially available for four years, with CEO James Min reporting compounded annual growth over 100%. The platform analyzes CT scans less invasively than stress tests or angiograms, gaining payer recognition for about 15 million annual heart problem cases in the U.S. This extension round occurred at the prior Series C price per share, signaling sustained growth rather than down-round pressure, as noted by Insight's Scott Barclay. Investors view Cleerly's AI approach as transformative for coronary diagnostics, aligning with computational diagnostics theses. Recent registry data from over 3,500 patients highlights AI's potential in plaque morphology insights, though randomized trials are needed for outcome improvements. |
| Jul 2022 | Series C | Fidelity (lead); T. Rowe Price (lead) | $223M | Cleerly, a New York-based health tech company founded in 2017, develops FDA-cleared AI-powered diagnostic solutions for comprehensive phenotyping of coronary artery disease using non-invasive CT imaging to analyze heart scans, identify plaque buildup, assess heart attack risk, and guide treatment plans. The platform aims to establish a new standard of care for cardiovascular disease by enhancing health literacy across patients, providers, and payers. On July 25, 2022, Cleerly closed its oversubscribed Series C funding round, initially announced at $192 million and updated to $223 million by July 28, led by T. Rowe Price Associates, T. Rowe Price Investment Management, and Fidelity Management & Research Company. New and existing investors included Sands Capital, Piper Sandler Merchant Banking and Heartland Healthcare Capital funds, Mirae Asset Capital, Peter Thiel, Breyer Capital, Novartis, Pura Vida Investments, Cigna Ventures, Vensana Capital, LRVHealth, New Leaf Ventures, and DigiTx Partners. This brought Cleerly's total funding to $279 million, following a $43 million Series B in 2021. Cleerly plans to use the proceeds to expand its team, enhance commercial capabilities, tap broader markets, invest in large-scale outcomes research, and advance over a dozen ongoing clinical trials to build clinical evidence. The company operates at the intersection of AI and healthcare, targeting early detection of heart disease amid rising chronic disease prevalence and provider shortages. The healthcare AI sector saw strong investor interest despite broader market slowdowns, with Cleerly benefiting from post-COVID focus on cardiovascular care. |
| Jun 2021 | Series B | Vensana Capital (lead); DigiTx Partners; American College of Cardiology; New Leaf Venture Partners; LRVHealth; Cigna Ventures; Jay Zaveri | $43M | Cleerly, a company developing AI-powered digital care pathways for heart disease prevention through non-invasive coronary computed tomography angiography analysis, launched on June 21, 2021, with a $43 million Series B funding round. The round was led by Vensana Capital and included investors LRVHealth, New Leaf Venture Partners, DigiTx Partners, American College of Cardiology, Cigna Ventures, bringing total funding to $54 million. Justin Klein of Vensana Capital, Tripp Peake of LRVHealth, and Vijay Lathi of New Leaf Venture Partners joined the board. Proceeds from the Series B were allocated to scaling commercial reach, expanding operational capabilities and strategic partnerships, and advancing research and development. Subsequent funding included a Series C round closing at $223 million in July 2022 led by T. Rowe Price and Fidelity, with participation from existing investors like Vensana Capital, LRVHealth, New Leaf Venture Partners, Cigna Ventures, and DigiTx Partners, bringing total raised to $279 million. Cleerly continued raising capital with a $106 million Series C extension in December 2024 led by Insight Partners and Battery Ventures. |
| Aug 2017 | Series A | - | $15M | - |
Who has invested in Cleerly?
11 investors have backed Cleerly across its funding rounds, including Insight Partners, Battery Ventures, Fidelity, T. Rowe Price, New Leaf Venture Partners and LRVHealth.
Lead investors include Insight Partners, Fidelity, T. Rowe Price and Vensana Capital.
Cleerly Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Lead | Jul 2022 | ||
| 1 | Participant | Dec 2024 | ||
| 1 | Lead | Jun 2021 | ||
| 1 | Lead | Jul 2022 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
This data is available for Pro users. Sign up to see all 11 Cleerly investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialCleerly Competitors
Cleerly competitors include listed companies like GE HealthCare, Pro Medicus and United Imaging, and private ones like Commure, Abridge and EliseAI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $200M | - | $7B | 35.0x | ||
| Private | $117M | - | $5.3B | 45.3x | ||
| Private | $100M | - | $2.2B | 22.0x | ||
| Publicly listed | $21B | $3.7B | $29B | 1.8x | ||
| Publicly listed | $186M | $147M | $13B | 62.7x | ||
| Publicly listed | $2.1B | $367M | $12B | 4.8x |
Cleerly Public Comps
Cleerly is still privately-owned, but its public comps include CrowdStrike, SAP, Salesforce, ServiceNow, Snowflake, Adobe, Datadog, Moody's, Nebius Group and Natera.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $42B | $13B | 5.8x | 5.4x | 18.4x | 17.1x | |||
| $42B | $13B | 5.5x | 5.2x | 17.8x | 12.2x | |||
| $13B | $2.6B | 11.1x | 9.6x | 57.2x | 25.0x | |||
| $4.7B | ($1.3B) | 25.6x | 21.0x | (94.1x) | 121.7x | |||
| $24B | $9.3B | 4.3x | 3.9x | 10.9x | 8.2x | |||
| $3.4B | ($588K) | 23.6x | 19.4x | (137813.0x) | 77.6x | |||
| $7.7B | $3.8B | 11.2x | 10.6x | 22.5x | 20.1x | |||
This data is available for Pro users. Sign up to see all Cleerly competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Cleerly
| When was Cleerly founded? | Cleerly was founded in 2017. |
| Where is Cleerly headquartered? | Cleerly is headquartered in Denver, CO, United States. |
| Is Cleerly publicly listed? | No, Cleerly is a private, VC-backed company. |
| How much funding has Cleerly raised? | Cleerly has raised $387M across 4 funding rounds. |
| What was Cleerly's last funding round? | Cleerly's last funding round was a $106M Series C in December 2024, led by Insight Partners. |
| Who are Cleerly's investors? | Cleerly's investors include DigiTx Partners, American College of Cardiology, Fidelity, Battery Ventures, Vensana Capital, T. Rowe Price, New Leaf Venture Partners, LRVHealth, Cigna Ventures, Jay Zaveri and 1 other. |
| Which companies are comparable to Cleerly? | Companies comparable to Cleerly include Commure, Abridge, EliseAI, GE HealthCare, Pro Medicus and United Imaging. |
See companies similar to Cleerly
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