Oxford-based Ultromics has secured $55 million in Series C funding to expand its artificial intelligence-powered heart failure diagnostic platform across US hospitals, addressing a critical gap where up to 64% of heart failure cases remain undiagnosed. The round was co-led by L&G, Allegis Capital, and Lightrock, with participation from major US health systems including UChicago Medicine's venture arm and UPMC Enterprises.
The company's FDA-cleared EchoGo platform uses AI to analyze routine echocardiograms and detect two challenging-to-diagnose conditions: heart failure with preserved ejection fraction (HFpEF) and cardiac amyloidosis. The technology requires no new equipment and integrates into existing clinical workflows while providing Medicare reimbursement coverage for both outpatient and inpatient use.
Addressing a $30 Billion Healthcare Challenge
Heart failure represents a mounting healthcare crisis, driving over $30 billion in annual US healthcare costs—a figure projected to exceed $70 billion by 2030. The diagnostic challenge is particularly acute for HFpEF and cardiac amyloidosis, conditions that often go unrecognized due to subtle symptoms and subjective interpretation of echocardiograms.
"The reality is, hospitals already have the data, they just haven't had the tools to extract the more subtle diagnostic signals from it," said Ross Upton, PhD, CEO and Founder of Ultromics. "By analyzing routine echocardiograms with AI, we're helping clinicians identify high-risk patients earlier, enabling intervention before disease progresses."
Cardiac amyloidosis is frequently mistaken for more common forms of heart disease, leaving patients untreated until symptoms worsen or irreversible damage occurs. This diagnostic blind spot has significant implications for patient outcomes and healthcare costs.
Clinical Validation and Performance Data
Ultromics has built its platform on one of the largest real-world echo datasets globally, having analyzed more than 430,000 echocardiograms to date. The technology has been validated across 25 peer-reviewed studies, demonstrating substantial improvements in diagnostic accuracy.
In clinical studies, EchoGo improved HFpEF detection by 73.6% compared to standard clinical risk scores. The company's diagnostic model for cardiac amyloidosis, validated in a global study of 18 institutions and published in the European Heart Journal, outperformed current clinical risk scores while successfully distinguishing the disease from similar conditions.
The platform generates real-time probability scores to help cardiologists identify high-risk patients earlier than traditional methods, trained and validated on extensive real-world data rather than controlled study populations.
Strategic Expansion and Market Adoption
Ultromics has established partnerships with flagship institutions including UChicago Medicine, University Hospitals Cleveland, Northwestern, and Mayo Clinic. The company is building regional clusters of clinical and commercial traction, particularly in high-prevalence regions like the Midwest.
In late 2024, the company received FDA Breakthrough Device clearance for EchoGo Amyloidosis, followed in 2025 by the launch of EchoGo Score, a new feature that adds AI-driven probability scoring to EchoGo Heart Failure for detecting HFpEF with greater nuance.
"Ultromics has established itself as an early-mover in the large and underserved cardiovascular disease market, having developed one of the first commercially available AI-powered diagnostic echocardiogram technologies," said Alastair Stewart, Head of Investments, Venture Capital, at L&G.
Technology Integration and Clinical Impact
The EchoGo platform is designed to integrate seamlessly into existing clinical workflows without requiring additional hardware or creating workflow disruptions. The technology helps hospitals reduce unnecessary tests, streamline workflows, and initiate treatment earlier when it's more effective and less expensive.
"There's a long-standing blind spot in cardiology where millions of patients with treatable heart failure are missed because their symptoms are subtle and echo images are hard to interpret," said Victor Westerlind, Managing Director at Allegis Capital. "What's exciting about Ultromics is how they're closing that gap."
The funding will support Ultromics' expansion across the US market, targeting hospitals and echo labs that see the highest volume of at-risk patients. The company is also expanding its pipeline to include additional cardiac conditions, new distribution channels, and deeper partnerships with health systems and clinical leaders.
