Medtronic leads $37M investment in CoreMap’s AFib mapping tech
CoreMap, a Massachusetts-based medtech company, has raised $37 million in Series C financing from Medtronic and a mix of new and existing investors.
CoreMap is focused on developing new ways to treat atrial fibrillation (AFib). Its flagship technology was invented by co-founder Peter Spector, MD, a practicing electrophysiologist. It uses ultra-high resolution electrodes to visualize details of AFib typically missed by other mapping systems, guiding clinicians as they perform ablation procedures.
CoreMap plans on using these new funds to help get its AFib mapping platform into the hands of U.S. clinicians.
“The successful completion of this financing is a significant milestone for CoreMap,” Sarah Kalil, CEO and co-founder of CoreMap, said in a statement. “AFib remains one of the most significant unsolved challenges in electrophysiology, and physicians need better data to guide treatment decisions and improve patient outcomes. This investment provides the resources to accelerate CoreMap's next-generation AFib mapping platform’s time to market. This financing enables us to continue pursuing that vision with urgency and purpose.”
“CoreMap is addressing one of the critical unmet needs in AF treatment with a differentiated technology platform and strong clinical support,” added Chris Eso, global head of corporate and business development, M&A and ventures at Medtronic. “We are excited to support Sarah and the CoreMap team as they advance the company through its next stage of growth.”
This represents just one of many funding rounds CoreMap has closed over the years. In 2022, the company raised $20 million in Series B financing. In 2020, it completed a Series A financing round of $10.5 million.
Click here for additional details about the CoreMap platform.
Michael has more than 19 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.