AliveCor, a US-based developer of a mobile electrocardiogram (ECG) device, raised $10.5m in Series B venture financing.
The round was co-led by existing investor Burrill & Company and new investor Khosla Ventures, with participation from Qualcomm Incorporated, through its Qualcomm Ventures investment arm and Qualcomm Life Fund, and the Oklahoma Life Sciences Fund.
The company intends to use the capital to launch and commercialize its mobile ECG device, pending 510(k) marketing clearance by the Food and Drug Administration, in the human health and animal health markets, as well as to expand new mHealth applications and services for international markets.
Led by Judy Wade, President, CEO and Director, AliveCor provides medical professionals, patients, and consumers worldwide with mobile-powered devices, data, and analysis to identify, prevent, and manage life-altering diseases.
In conjunction with the funding, Michael Kourey, operating partner at Khosla Ventures, has joined the company’s Board of Directors.