Calgary-based Circle Cardiovascular Imaging (Circle) has raised $16 million as it looks to bring its cardiovascular imaging software to new markets.
The round was led by Kayne Anderson Capital Advisors and Yaletown Partners. Circle has developed a cardiovascular imaging post-processing software, which allows physicians, cardiologists, and radiologists to diagnose complex cardiovascular diseases. The company’s main product, cvi42, incorporates big data and deep learning to enable diagnosis.
“Circle is now well positioned to capitalize on its early product and commercial success to expand into new geographic markets.”
“We are excited about accelerating the growth and product development of Circle’s already market-leading products, which we believe have the potential to revolutionize cardiac imaging post-processing,” said Hans Knapp, co-founder and partner of Yaletown Partners. “Circle’s team of key thought leaders from the cardiology community gives it a strong clinical and technical basis on which to drive further innovation and we are pleased to be part of this next phase of Circle’s growth.”
Circle said it will use the funding to expand and commercialize its product globally.
“Circle is now well positioned to capitalize on its early product and commercial success to expand into new geographic markets,” said Greg Ogrodnick, CEO of Circle. “Circle’s recent partnership with Siemens Healthineers, alongside our established global partnership with GE Healthcare, further strengthens our position in the marketplace and our ability to expand globally. “We look to further increase our reach through the addition of new partners. Having a strong balance sheet is vital to the rapid growth of our sales efforts.”