IMPLICITY Raises $23M in Series A Funding

IMPLICITY is $23 million wealthier these days, having received an influx in Series A funding. The support came from new investors Crédit Mutuel Innovation and Bpifrance.

“This financing round marks a new and exciting chapter for IMPLICITY. With clinical staff everywhere wrestling with an increasing volume of data coming from the growing number of connected devices, the need for a universal remote platform is now widely recognized as paramount. Coverage of remote care sparked by Covid-19 set the scene. In order to democratize remote cardiac care, our mission is to provide healthcare professionals with the best technology available to scale and monitor all cardiac patients,” said Dr. Arnaud Rosier, CEO and founder of IMPLICITY.
 
Additional investors for the round include BNP Paribas Development and previous seed investors Serena, XAnge and Karista. The new funding comes just months after IMPLICITY received U.S. Food and Drug Administration (FDA) clearance for a novel AI algorithm that analyzes ECG episodes from Implantable Loop Recorders (ILRs).  
 
The new funding will help speed the international rollout of IMPLICITY’s AI-based technology and cardiac data management solutions, enabling healthcare professionals worldwide with a more holistic approach to caring for cardiac patients. Proceeds will be used to increase the company’s U.S. market presence, support expansion into new markets, and develop additional medical device software to strengthen the technological leadership of the company.
 
“We are very pleased to support the commercial expansion of IMPLICITY’s platform that enables cardiologists to provide more effective patient care by streamlining data across major remote cardiac monitoring devices,” said Delphine Cardi, investment director at Crédit Mutuel Innovation. “The company is already on a strong growth path in the U.S. and Europe, and we look forward to building on that momentum as they continue to develop next-generation offerings that move toward the prevention of heart disease.”
 
“We are extremely impressed by IMPLICITY’s current international market success. We believe the company has the potential to become a world-class leader in cardiac remote monitoring. This investment will help accelerate adoption across all regions in 2022 and beyond, particularly in the U.S. This is a very large market opportunity that cannot be overstated,” said Chahra Louafi, director of the Autonomous Patient Fund at Bpifrance. 

IMPLICITY is a software company that provides a universal cardiac remote monitoring and research platform to clinics and service companies. As a digital Medtech, IMPLICITY develops AI and knowledge based algorithms to reduce healthcare professionals’ workload and allows them to potentially predict patient health status. The IMPLICITY platform aggregates, normalizes, and standardizes data from all implantable cardiac electronic device across all major manufacturers. In addition to having an FDA-cleared solution and multiple CE markings, IMPLICITY has been the first private company authorized to access the Health Data Hub,* one of the world’s largest patient databases, supporting the development of its AI solutions to improve care for patients with chronic heart failure conditions. IMPLICITY covers more than 60,000 patients in 100 medical facilities across the United States and Europe.
 
* Health Data Hub is a health data platform put in place by the French government to combine existing health patient databases and facilitate their usage for research and development purposes.