Cardiosense
- Industry
- Digital Health
- Founded Year
- 2020
- Headquarters
- 400 N Aberdeen St, Suite 900, Chicago, IL 60642
- Employee Count
- 33
Key People
- Amit Gupta - Co-founder and CEO
- Andrew Carek - Co-founder
- Luke Neill - VP, Clinical Affairs
- John Martin - Executive Vice President and Chief Medical Officer
Assessment
- Team
-
Aspect: First-time 10+ yrs
Summary: The founding team has over a decade of experience in developing the underlying technologies for Cardiosense.
The founding team has been working on the underlying technologies for over a decade, indicating a strong foundation in the field.
- Clinical Need
-
Aspect: Very Strong
Summary: Cardiosense addresses a critical need for early detection and management of cardiovascular diseases.
Cardiovascular diseases are a leading cause of death globally, and early detection can significantly improve patient outcomes.
- Competition
-
Aspect: Somewhat crowded
Summary: The market for cardiac monitoring devices is competitive, with several established players.
The presence of multiple competitors necessitates a strong value proposition and strategic positioning.
- Technical Challenge
-
Aspect: Moderate
Summary: Developing non-invasive, multi-sensor devices with accurate predictive algorithms presents moderate technical challenges.
While challenging, the technical hurdles are surmountable with a dedicated and experienced team.
- Patent
-
Aspect: Applied
Summary: Cardiosense has applied for patents to protect its proprietary technologies.
Patents are crucial for safeguarding innovations and enhancing the company's valuation.
- Financing
-
Aspect: Well-funded
Summary: The company has secured $15.1 million in Series A funding, indicating strong investor confidence.
The substantial funding allows for scaling operations and conducting necessary clinical studies.
- Regulatory
-
Aspect: 510k/PMA
Summary: Cardiosense has received FDA clearance for its CardioTag device.
FDA clearance is a significant milestone, indicating compliance with safety and efficacy standards.
Opportunity Rollup
- Odds of Success
- 4
- Peak Market Share
- 5.7
- Segment CAGR
- 9.1%
- Market Segment
- Cardiac Monitoring Devices
- Market Sub Segment
- Wearable Cardiac Monitors
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.29 |
| 2 | 0.86 |
| 3 | 2.00 |
| 4 | 3.99 |
| 5 | 5.70 |
Key Takeaway
Cardiosense is well-positioned to capitalize on the growing demand for non-invasive cardiac monitoring solutions, supported by a strong team, innovative technology, and substantial funding.