Pulse Valuation, Funding & Investors

Pulse is valued at $4.3B as of August 2021.

See full Pulse profile

Last Pulse valuation

$4.3B

Series C · Aug 2021

Last Pulse funding round

$100M

Series C · Aug 2021

Cumulative funding Pulse raised

$100M

across 1 funding round

Key investors in Pulse

  • Hillhouse Investment
  • Goldman Sachs Asset Management
  • Boyu Capital
  • Philips
  • Boxin Capital
  • Linghao Touzi

Pulse Overview

About Pulse

Pulse is a French provider of cardiovascular imaging software for coronary artery assessment. Headquartered in Lyon, the company develops tools that compute fractional flow reserve, pressure drops, and plaque vulnerability from CT angiography scans. Pulse software integrates with scanners from Siemens Healthineers and Philips, enabling non-invasive FFRct analysis in clinics. Used in over 50 countries, the platform supports plaque characterization and endothelial shear stress mapping. Founded in 2016, Pulse partners with hospitals like Cleveland Clinic for clinical validation.


Founded

2015

HQ

ChinaShanghai

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Valuation

$4.3B (Aug 2021)

Pulse Valuation

Pulse is currently valued at $4.3B, based on its Series C in August 2021.

The $100M round was led by Hillhouse Investment and Philips, with participation from Boyu Capital, Boxin Capital, Goldman Sachs Asset Management and Linghao Touzi.

Pulse valuation by funding round

Pulse valuation by funding round
DateStageValuation
Aug 2021Series C$4.3B

Pulse Funding History

Pulse has raised a total of $100M across 1 funding round.

Pulse funding rounds

Pulse funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2021Series CHillhouse Investment (lead); Philips (lead); Boyu Capital; Boxin Capital; Goldman Sachs Asset Management; Linghao Touzi$100M$4.3BPhilips sold its Domestic Appliances business, a global leader in kitchen, coffee, garment care, and home care appliances including products like Airfryer and air purifiers, to Hillhouse Capital (also referred to as Hillhouse Investment). The unit operates in over 100 countries, employs more than 7,000 people, and remains headquartered in the Netherlands. The transaction was announced on March 25, 2021, and completed on September 2, 2021, subject to regulatory approvals. The deal values the business at an enterprise value of approximately EUR 3.7 billion, with total deal value reaching EUR 4.4 billion including a 15-year Philips brand license agreement valued at EUR 0.7 billion net present value. Philips received cash proceeds of approximately EUR 3 billion after tax and transaction costs. This sale concludes Philips' major divestitures, allowing focus on health technology. The Domestic Appliances unit reported EUR 2.2 billion in sales for 2020. Hillhouse aims to expand the business globally, particularly in new markets. No other investors like Boxin Capital, Boyu Capital, Goldman Sachs Asset Management, or Linghao Touzi are mentioned in connection with this deal, and the query's referenced date of February 8, 2021, precedes the announcement. No VC-style partial funding round matches the described investors; this is a full business acquisition.

Who has invested in Pulse?

6 investors have backed Pulse across its funding rounds, including Hillhouse Investment, Goldman Sachs Asset Management, Boyu Capital, Philips, Boxin Capital and Linghao Touzi.

Lead investors include Hillhouse Investment and Philips.


Pulse Investors

Investors in Pulse by funding rounds participated
InvestorHQRoundsRoleFirst check
Boyu CapitalChinaBeijing1ParticipantAug 2021
Boxin CapitalChinaBeijing1ParticipantAug 2021
PhilipsNetherlandsAmsterdam1LeadAug 2021
Hillhouse InvestmentSingaporeSingapore1LeadAug 2021

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Pulse Competitors

Pulse competitors include listed companies like Imeik Technology Development, BillionToOne, Abbott India and Bausch + Lomb, and private ones like Biomat USA and MiRus.

Public and private companies comparable to Pulse
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Biomat USAUnited StatesLos Angeles, CAPrivate--$4.2B-
MiRusUnited StatesAtlanta, GAPrivate--$4.4B-
Imeik Technology DevelopmentChinaChinaPublicly listed$366M$232M$4B9.5x
BillionToOneUnited StatesUnited StatesPublicly listed$305M$12M$5.2B11.7x
Abbott IndiaIndiaIndiaPublicly listed$722M$199M$5.7B7.4x
Bausch + LombCanadaCanadaPublicly listed$5.1B$513M$6B2.0x

Pulse Public Comps

Pulse is still privately-owned, but its public comps include LivaNova, Integer Holdings, Andon Health, Hamamatsu Photonics, MGI Tech, Mirion, Imeik Technology Development, Ottobock, Jiangsu Yuyue Medical and Diagens.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
LivaNova$1.4B($131M)3.0x2.8x(31.5x)11.9x
Integer Holdings$1.9B$292M3.0x3.1x19.3x14.5x
Andon Health$204M$74M20.0x-55.4x-
Hamamatsu Photonics$1.4B$272M3.0x2.7x15.0x14.0x
MGI Tech$414M$19M9.1x8.2x194.7x80.4x
Mirion$925M$201M5.3x4.5x24.4x18.0x
Imeik Technology Development$366M$232M9.7x9.5x15.3x16.6x
Ottobock$1.9B$435M2.7x2.6x12.2x10.1x

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Common questions about Pulse

When was Pulse founded?Pulse was founded in 2015.
Where is Pulse headquartered?Pulse is headquartered in Shanghai, China.
Is Pulse publicly listed?No, Pulse is a private, VC-backed company.
What is Pulse's valuation?Pulse was last valued at $4.3B in its Series C in August 2021.
How much funding has Pulse raised?Pulse has raised $100M across 1 funding round.
What was Pulse's last funding round?Pulse's last funding round was a $100M Series C in August 2021, led by Hillhouse Investment and Philips.
Who are Pulse's investors?Pulse's investors include Boyu Capital, Boxin Capital, Philips, Hillhouse Investment, Goldman Sachs Asset Management and Linghao Touzi.
Which companies are comparable to Pulse?Companies comparable to Pulse include Biomat USA, MiRus, Imeik Technology Development, BillionToOne, Abbott India and Bausch + Lomb.

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