Ultromics Valuation, Funding & Investors
Ultromics is valued at $47M as of May 2018.
Last Ultromics valuation
$47M
Series A · May 2018
Last Ultromics funding round
Undisclosed stage
Amount undisclosed · Dec 2025
Cumulative funding Ultromics raised
$113M
across 6 funding rounds
Key investors in Ultromics
Oxford Science Enterprises
GV
The Blue Venture Fund
Future Planet Capital
Lightrock
Optum Ventures
About Ultromics
Ultromics is an AI-powered software solutions developer for cardiovascular disease diagnosis through echocardiography. Ultromics provides platforms supporting clinicians in interpreting echocardiogram data using machine learning to detect patterns and abnormalities indicating heart conditions. The flagship EchoGo product automates echocardiogram analysis and delivers quantitative reports on cardiac function and structure, integrating with clinical workflows to enhance decision-making consistency while supporting early detection of heart failure and coronary artery disease.
Founded
2017
HQ
OxfordWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$47M (May 2018)
Ultromics Valuation
Ultromics is currently valued at $47M, based on its Series A in May 2018.
The $13M round was led by Oxford Science Enterprises, with participation from Tanarra Capital, Future Planet Capital, Neptune Investment Management, Fushia Investments, Dieter Spälti and 3 other investors.
Ultromics valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| May 2018 | Series A | $47M |
Ultromics Funding History
Ultromics has raised a total of $113M across 6 funding rounds.
Ultromics' first fundraising round was a $3M seed round in May 2017. The most recent completed round was a undisclosed-stage round in December 2025.
Ultromics funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2025 | Undisclosed stage | American Heart Association Ventures (lead) | - | - | Ultromics, founded out of the University of Oxford, develops FDA-cleared AI-powered tools like the EchoGo platform for enhancing echocardiographic diagnosis of complex heart diseases, including heart failure with preserved ejection fraction (HFpEF). Built in partnership with the NHS and Mayo Clinic, the platform analyzes standard ultrasound scans to detect early heart failure, particularly in women who are disproportionately affected, and is used in leading U.S. hospitals with reimbursement across public and private payers. On December 17, 2025, Ultromics secured a strategic investment from the American Heart Association's Go Red for Women Venture Fund, part of American Heart Association Ventures, marking the fund's second investment. The funding accelerates expansion of access to Ultromics' AI platform to make early HFpEF identification standard in cardiac care and address health-equity gaps. Ultromics' EchoGo Heart Failure has analyzed over 430,000 echocardiograms across U.S. and U.K. hospitals. Clinical studies show it reaches diagnostic decisions in 93% of patients compared to 40% for traditional HFpEF risk scores, trained on patient outcomes data for accuracy across demographics. |
| Jul 2025 | Series C | Allegis Capital (lead); Legal & General Investment Management (LGIM) (lead); Lightrock (lead); The Blue Venture Fund; University of Oxford; GV; Oxford Science Enterprises; UPMC Enterprises; UCM Ventures | $55M | - | Ultromics, an Oxford University spinout founded in 2017 by CEO Ross Upton, develops AI-driven cardiology solutions to improve echocardiogram diagnosis for heart diseases like heart failure and cardiac amyloidosis. The company leverages one of the largest global echo datasets and has FDA-cleared products including EchoGo Heart Failure, EchoGo Amyloidosis, and EchoGo Score for probability scoring and risk stratification. It partners with major U.S. institutions such as Mayo Clinic, UChicago Medicine, University Hospitals Cleveland, and Northwestern, and benefits from U.S. reimbursement to support commercialization. On July 31, 2025, Ultromics raised $55 million (equivalent to €48 million in one report) in a Series C funding round co-led by Allegis Capital, Legal & General Investment Management (L&G or LGIM), and Lightrock. Existing investors Oxford Science Enterprises, GV (Google Ventures), The Blue Venture Fund, and University of Oxford provided continued support, while new participants included UCM Ventures (UChicago Medicine affiliate) and UPMC Enterprises. Proceeds will accelerate U.S. nationwide expansion, enhance product automation, drive clinical innovation for new cardiac disease areas beyond heart failure, and scale deployment in the underserved cardiovascular market affecting millions. Investors highlighted Ultromics' early-mover status, real-world diagnostic impact, and potential to address detection gaps in subtle symptoms via AI analysis of echo images. |
| Aug 2021 | Series B | The Blue Venture Fund (lead); GV; Oxford Science Enterprises; Optum Ventures | $33M | - | Ultromics is an Oxford, UK-based company developing AI-enabled cardiovascular imaging solutions, particularly for analyzing echocardiograms to detect heart conditions like heart failure with preserved ejection fraction (HFpEF) and amyloidosis. Founded in 2017 as a spinout from the University of Oxford by Dr. Ross Upton and Prof. Paul Leeson, it focuses on improving diagnostic accuracy and efficiency in cardiac care using cloud-based AI analysis. On August 16, 2021, Ultromics raised $33 million in a Series B funding round led by The Blue Venture Fund, with participation from Optum Ventures, GV (Google Ventures), and existing investor Oxford Science Enterprises (also referred to as Oxford Sciences Innovation). The funds were intended to accelerate the adoption and deployment of AI-enhanced echocardiograms in clinical and research settings to improve patient outcomes, resource savings for hospitals, and earlier detection of cardiovascular risks. Cardiovascular disease is highlighted as the leading cause of morbidity and mortality globally and in the US, affecting millions annually. Ultromics' platform aims to revolutionize treatment pathways by enabling more accurate risk assessment from standard echoes, addressing challenges in interpreting subtle symptoms and images. The company has secured FDA clearances for its software and partnerships with entities like drugmakers Janssen Biotech and Pfizer for specific validations. Prior to the Series B, Ultromics completed a Series A in 2018 raising £10 million from investors including OSI. Subsequent rounds include a $55 million Series C in July 2025 co-led by L&G, Allegis Capital, and Lightrock, with participation from prior backers like GV, Blue Venture Fund, and Oxford Science Enterprises, plus US health systems. |
| Jun 2020 | Series A | Nina Capital | $10M | - | Ultromics, a U.K.-based software developer, raised $10 million in financing around June 2020 from Oxford Sciences Innovation and Nina Capital. The funds supported its AI-powered EchoGo Core platform, FDA-cleared for reading echocardiograms, with EchoGo Pro pending clearance at the time. The company collaborated with U.S. clinics using EchoGo Core to study SARS-CoV-2's impact on the heart. |
| May 2018 | Series A | Oxford Science Enterprises (lead); Tanarra Capital; Future Planet Capital; Neptune Investment Management; Fushia Investments; Dieter Spälti; Andre Crawford-Brunt; GT Healthcare Capital Partners; RT Ventures | $13M | $47M | Ultromics is an AI-driven cardiology company founded out of the University of Oxford, developing FDA-cleared diagnostic tools for detecting heart diseases from echocardiographic imaging. The company's flagship product, EchoGo, helps clinicians identify complex cardiac conditions such as heart failure earlier and more accurately using standard ultrasound scans, with partnerships established with Mayo Clinic and the NHS. In May 2018, Ultromics was valued at $47.07 million, reflecting early investor confidence in its technology platform for cardiovascular disease detection. |
| May 2017 | Seed | Oxford Science Enterprises (lead) | $3M | - | Ultromics, founded in 2017 as a spin-out from the University of Oxford, develops AI-powered tools for cardiac imaging, including the EchoGo platform for echocardiogram analysis to detect heart diseases like coronary artery disease, heart failure, and amyloidosis. Oxford Science Enterprises (previously Oxford Sciences Innovation) provided seed funding to Ultromics in 2017 and participated in subsequent rounds including Series A in 2018, Series A-III in 2020, and Series B in 2021. The company has raised over $115M across 9 rounds, with later financings including a $33M Series B in August 2021 led by Blue Venture Fund and a $55M Series C in July 2025 co-led by L&G, Allegis Capital, and Lightrock. Ultromics partners with the NHS, Mayo Clinic, and U.S. health systems like UChicago Medicine and UPMC to scale its FDA-cleared AI diagnostics. |
Who has invested in Ultromics?
20 investors have backed Ultromics across its funding rounds, including Oxford Science Enterprises, GV, The Blue Venture Fund, Future Planet Capital, Lightrock and Optum Ventures.
Lead investors include American Heart Association Ventures, Allegis Capital, Legal & General Investment Management (LGIM), Lightrock, The Blue Venture Fund and 1 other investor.
Ultromics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Oxford | 4 | Lead | May 2017 | |
 Chicago, IL | 2 | Lead | Aug 2021 | |
| San Francisco, CA | 2 | Participant | Aug 2021 | |
 Melbourne | 1 | Participant | May 2018 | |
| Oxford | 1 | Participant | Jul 2025 | |
| London | 1 | Participant | May 2018 | |
| Dallas, TX | 1 | Lead | Dec 2025 | |
 Barcelona | 1 | Participant | Jun 2020 | |
| London | 1 | Participant | May 2018 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Fushia Investments |  Singapore | 1 | Participant | May 2018 |
| Dieter Spälti | -- | 1 | Participant | May 2018 |
| Pittsburgh, PA | 1 | Participant | Jul 2025 | |
| Andre Crawford-Brunt | United Kingdom | 1 | Participant | May 2018 |
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Start Free TrialUltromics Competitors
Ultromics competitors include listed companies like Deepnoid and MeVis, and private ones like Med Claims Compliance Corporation, CarePredict, Curaberg and Mindset Health.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Austin, TX | Private | - | - | $47M | - | |
| Fort Lauderdale, FL | Private | - | - | $48M | - | |
 Israel | Private | - | - | $43M | - | |
| Melbourne | Private | - | - | $52M | - | |
 South Korea | Publicly listed | $5M | ($7M) | $39M | 3.1x | |
 Germany | Publicly listed | $18M | $4M | $49M | - |
Ultromics Public Comps
Ultromics is still privately-owned, but its public comps include SOFTMAX, SMAIO, Susmed, SCX.ai, MeVis, GuideAI Health, Redwood AI, Elliptic Laboratories, Vuno and Newen AI.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $45M | $5M | 1.0x | 1.0x | 8.3x | - | |||
| $11M | ($1M) | 4.4x | 3.8x | (41.5x) | (39.3x) | |||
| $3M | ($2M) | 7.4x | 5.6x | (11.8x) | - | |||
| $4M | ($2M) | 5.8x | - | (14.5x) | - | |||
| $18M | $4M | 2.4x | - | 11.6x | - | |||
| - | ($846K) | - | - | (56.3x) | - | |||
| - | ($385K) | - | - | (113.3x) | - | |||
| $11M | ($4M) | 4.2x | 4.3x | (12.1x) | (65.6x) | |||
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Common questions about Ultromics
| When was Ultromics founded? | Ultromics was founded in 2017. |
| Where is Ultromics headquartered? | Ultromics is headquartered in Oxford, United Kingdom. |
| Is Ultromics publicly listed? | No, Ultromics is a private, VC-backed company. |
| What is Ultromics' valuation? | Ultromics was last valued at $47M in its Series A in May 2018. |
| How much funding has Ultromics raised? | Ultromics has raised $113M across 6 funding rounds. |
| What was Ultromics' last funding round? | Ultromics' last funding round was a undisclosed-stage round in December 2025, led by American Heart Association Ventures. |
| Who are Ultromics' investors? | Ultromics' investors include Oxford Science Enterprises, The Blue Venture Fund, GV, Tanarra Capital, University of Oxford, Future Planet Capital, American Heart Association Ventures, Nina Capital, Neptune Investment Management, Fushia Investments and 10 others. |
| Which companies are comparable to Ultromics? | Companies comparable to Ultromics include Med Claims Compliance Corporation, CarePredict, Curaberg, Mindset Health, Deepnoid and MeVis. |
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