Healthtech scale-up Idoven, the leading cardiology-as-a-service platform powered by AI, announces today that the basketball legend Pau Gasol joins Idoven in a new round led by Northzone, with follow-on funding from Insight Partners and major previous investors. The round will fuel Idoven's ambition to become the leading global solution for electrocardiogram (ECG) analysis. More specifically, the additional funds will help accelerate the rollout of new solutions using Idoven’s core technology, support healthcare professionals to accurately and efficiently diagnose cardiovascular diseases, and further the company’s geographic expansion.
An Endeavor Spain patron who entered the Basketball Hall of Fame earlier this month, Pau Gasol is a two-time NBA Champion with a 20-year athletic career. Gasol’s investment and involvement in Idoven furthers his commitment to global health and saving lives, as demonstrated by his roles at UNICEF and the Gasol Foundation. Gasol is the second world-class professional athlete to invest in Idoven, after the Spanish World Cup-winning goalkeeper Iker Casillas joined the company as a seed investor after suffering a heart attack in training at the age of 37.
“As a former elite athlete, I know firsthand how important early detection and prevention can be to maintaining optimal health, especially when it comes to cardiovascular issues. I am thrilled to contribute with my expertise and knowledge, building a strong and successful team culture in a company which has the potential to save thousands of lives, as well as my network and reach to help Idoven scale at such a crucial phase of its growth. Idoven’s AI technology is completely changing how we measure a healthy heart and prevent and treat heart related disease, something I think will make a big difference.” - Pau Gasol, former professional basketball player, president of Gasol16 Ventures, and Idoven investor.
Idoven has developed the world’s first cardiology-as-a-service platform powered by artificial intelligence that augments both a cardiologist’s and non-cardiology expert clinician’s ability to identify, triage, and diagnose patients at scale. Idoven is creating a Platform as a Medical Device (PaMD) that analyzes ECGs of any duration from any hardware reaching cardiologist-level accuracy and with prediction capabilities.
“It’s a true honor to count Pau Gasol, a revered global athlete, as an investor at Idoven. In everything we do, we strive to be world class, and we feel that our vision is fully aligned with Gasol’s track record as an athlete and mission as an investor. His participation in this new funding round couldn't come at a better time. We’ll be using the investment to double down on product innovation and development, to expand into new markets, and to continue to attract team players among the most talented people we can find across the globe.” - Manuel Marina Breysse, cardiologist, CEO, and Co-founder of Idoven.
Idoven’s proprietary technology evolved from a desktop software created in Madrid in 2018 by two scientists to a cloud-based AI solution used by leading medical device manufacturers and pharmaceutical companies around the world. To achieve this growth, Idoven has moved from a closed platform to an open one that can be integrated with third-party hardware, software, electronic medical record systems and pharma companies’ digital solutions.
"Idoven is already having a big impact on how cardiovascular health is measured, paving the way for enhanced patient outcomes. While Idoven has grown significantly, there is still a lot to come to deliver the vision of bringing expert-level diagnosis wherever the patient needs it, towards the goal of having a cardiologist in your pocket. We believe Manuel and his team of medical and AI experts have a chance to build a category-defining company, and we are excited to deepen Northzone commitment with this latest investment.” - Michiel Kotting, Partner at Northzone.
Cardiovascular diseases are still the most prevalent pathologies and the leading cause of death in the world. The cost of cardiovascular disease is estimated to reach $1044 billion worldwide by 2030. “Cardiovascular disease impacts 32% of global deaths. In the future, validated deep compute will empower providers to touch patients with empathy and accuracy. With Idoven, that future is arriving.” - said Scott Barclay, Managing Director at Insight Partners.
Additional investors in this round include venture firm Hambro Perks as well Spring Health co-founder, Adam Chekroud, and Carto CEO, Luis Sanz. Idoven raised a €19.8M Series A round in June 2022, recently partnered with AstraZeneca and received €1.5M in European funding from EIT Health for its early diagnosis of heart attacks project, ASSIST where the company is partnering with leading international hospitals and scientific institutions.
The company is a member of the MAESTRIA Consortium (H2020), using machine learning to develop the world’s first digital platform for integrative diagnosis of atrial cardiomyopathy and atrial fibrillation to prevent stroke. The initiative involved a collaboration with 17 other leading European and US research centers. Idoven won 1st prize at South Summit in the Most Disruptive & Health verticals category.
Idoven has developed the world’s first cardiology-as-a-service platform powered by artificial intelligence that augments both a cardiologist’s and non-cardiology expert clinician’s ability to identify, triage and diagnose patients at scale. The company counts partners such as AstraZeneca, Abbott, and GE Healthcare, FIFPRO, Google, Santander and Real Madrid Foundation. Idoven is backed by top-tier investors and business angels including Insight Partners, Northzone and Wayra (Telefónica), Iker Casillas, Pau Gasol, the Accel Starters program, and EIT Health. The company has been awarded with numerous distinctions for its AI technology in Europe and the US, including the prestigious European Innovation Council (EIC) Accelerator and Horizon 2020 (H2020) awards and the Healthy Longevity Catalyst Award from the US National Academy of Medicine. Idoven has also been selected by CB Insights as one of the top 150 companies in Digital Health for 2022.
About Pau Gasol
Pau Gasol is a former professional basketball player and philanthropist whose endeavors make him a significant figure in global humanitarian efforts. Early in his career, he formed a deep connection with UNICEF, using his influence to make a real impact on children's lives. He chose to actively participate in fieldwork, making trips to South Africa, Angola, Chad, Ethiopia, and even war-stricken Iraq to work with local communities and displaced children. Gasol's hands-on approach to global humanitarian issues and his resolve to turn feelings of sadness and pain into positive action speak volumes about his character and commitment.
With his brother Marc, Pau Gasol went on to establish the Gasol Foundation, aspiring to leave a lasting legacy that will continue to make an impact long after they have left the world of professional sports. The foundation’s mission is the prevention of childhood obesity through the promotion of healthy habits: physical activity, healthy eating, sleep and well-being. It operates both in the US and Spain, focusing on underserved communities due to the scientific proven association between the socioeconomic level of families and the prevalence of obesity. His contributions to health and wellbeing through his work with UNICEF and the Gasol Foundation have assured Pau Gasol's enduring influence well beyond his basketball career. Pau Gasol is also president of Gasol16 Ventures, and a member of the Athletes’ Commission of the International Olympic Committee. For more information visit Gasol16ventures.com
Northzone is a leading European Venture Capital Fund with offices in London, Stockholm, New York and Oslo. Established in 1996, Northzone has raised 8 funds to date with over €1bn in assets under management. The experienced team partners with ambitious entrepreneurs building category-defining businesses. Northzone has been an early investor in over 130 companies, including Spotify, Avito, iZettle, Klarna, and Stepstone. The fund has an active portfolio of over 50 companies. For more, visit www.northzone.com
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2022, the firm has over $75B in regulatory assets under management. Insight Partners has invested in more than 750 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.