BREAKING Evident Vascular exits stealth with $35M Series A led by Vensana Capital MEDTECH AI-powered IVUS platform targets peripheral vascular disease 2025 Series B closes with Shangbay Capital and two multinational strategics MARKET 21M+ Americans had peripheral arterial disease in 2020 HQ San Jose, California · ~38 employees NEXT Pursuing FDA 510(k) clearance ahead of U.S. launch BREAKING Evident Vascular exits stealth with $35M Series A led by Vensana Capital MEDTECH AI-powered IVUS platform targets peripheral vascular disease 2025 Series B closes with Shangbay Capital and two multinational strategics MARKET 21M+ Americans had peripheral arterial disease in 2020 HQ San Jose, California · ~38 employees NEXT Pursuing FDA 510(k) clearance ahead of U.S. launch
The Vascular Report · Company Dossier

Evident Vascular

The San Jose startup rebuilding intravascular ultrasound for the vessels legacy technology treats as an afterthought - with AI at the catheter tip.

Medical Devices IVUS · AI Imaging Founded 2023 San Jose, CA
Evident Vascular logo
EVIDENT VASCULAR, INC. — Corporate mark. The company’s IVUS platform carries the same name: the idea that better imaging should make disease evident.
The Dispatch

A quiet fix for a tool everyone tolerates

Intravascular ultrasound, or IVUS, lets a physician see the inside of a blood vessel in real time - a cross-section from within the artery itself, captured by a tiny transducer threaded on a catheter. It is proven technology. It is also, by the admission of the clinicians who use it, underused. Evident Vascular, a medical device company founded in San Jose in 2023, has built its entire thesis on that contradiction.

The problem, as the company frames it, is a compromise. Legacy IVUS systems were designed first for the coronary arteries of the heart and only secondarily adapted for the peripheral vessels of the legs and pelvis, where much vascular disease actually lives. The result is a menu of trade-offs: sharper images that slow the procedure, or faster workflows that give up clarity. Evident Vascular is developing an AI-powered IVUS platform - branded, fittingly, Evident - meant to remove that choice.

“We under-utilize IVUS because available technologies force a compromise between image quality and workflow fit.”Peripheral Interventionalist, cited by Evident Vascular

The Market, By the Numbers

Why peripheral vessels?

Peripheral arterial disease is common, growing, and under-imaged - the combination investors chase and rarely find. Evident Vascular found it in a catheter.

21M+
Americans with PAD in 2020
26M
Projected PAD cases by 2040
2M+
Peripheral interventions in 2020
3M+
Projected procedures by 2030
The Product

What the platform actually does

Real-time imaging

See inside the vessel

The Evident IVUS platform delivers real-time, cross-sectional views of a blood vessel’s interior during minimally invasive procedures - letting physicians assess arterial and venous disease and confirm what an angiogram alone cannot show.

AI assistance

Interpretation, not just pictures

Artificial intelligence is applied to enhance image interpretation and streamline the clinical workflow - the part of IVUS that has historically slowed adoption. The goal is a system clinicians reach for by default, not only in hard cases.

Peripheral-first

Designed for the target anatomy

Rather than borrow a coronary tool, Evident designs for peripheral arteries and veins from the start - guiding treatment decisions and optimizing stent placement where legacy systems fit least well.

Guided therapy

Better decisions in the moment

Clearer imaging with a workflow that keeps pace means physicians can size vessels, characterize disease, and confirm results during the procedure - the promise of image-guided therapy, made routine.

The Founders

Three operators, one conviction

Evident Vascular was co-founded in 2023 by a team of experienced medtech operators who share a single thesis: intravascular ultrasound is ripe for reinvention.

HR

Howard Rosen

CEO & Co-Founder

Leads the company’s strategy and its case that legacy IVUS was built for the heart first and the periphery second.

PP

Patrick Phillips, Ph.D.

CTO & Co-Founder

Chief technology officer, guiding the imaging and AI engineering behind the Evident platform.

DP

Danielo Piazza

Chief Product Officer & Co-Founder

Chief product officer, responsible for shaping the platform around real clinical workflow.

“Legacy IVUS platforms were originally designed primarily for coronary procedures and secondarily for peripheral vascular applications.”Howard Rosen, CEO & Co-Founder

The Money

From stealth to Series B

Evident Vascular revealed itself in October 2023 alongside a fully committed $35 million Series A from Vensana Capital, a medtech-focused firm whose partners have backed companies including Inari Medical, CardiAQ and Cartiva. In March 2025 the company closed a Series B - amount undisclosed - adding new investor Shangbay Capital and, notably, two multinational strategic investors.

Series A
$35M · Vensana Capital · Oct 2023
Series B
Undisclosed · Shangbay + strategics · Mar 2025
Series B amount not disclosed; bar shown illustratively. Total disclosed funding to date: $35M+.

“Intravascular ultrasound is ripe for innovation.”Justin Klein, MD, JD · Vensana Capital

The Business

How it fits the market

Model

B2B medical device

A classic medtech model: a capital console paired with single-use catheters, sold to hospitals and cath labs once the platform clears regulatory review. Pre-commercial today.

Customers

The interventionalists

Interventional cardiologists, interventional radiologists and vascular surgeons treating peripheral arterial and venous disease - the clinicians performing 2M+ procedures a year in the U.S.

Competition

The incumbents

Established IVUS and intravascular imaging lines from Boston Scientific, Philips (Volcano) and Abbott. Evident’s wedge is a peripheral-first design rather than a coronary tool adapted second.

The road runs through the U.S. Food and Drug Administration. Evident Vascular is developing toward a 510(k) clearance ahead of a planned commercial launch - funding first, launch second, which in regulated medtech is the order that keeps a company from shipping a product it cannot yet support.

The Record

Timeline

2023 · OCTOBER

Founded and exits stealth

Evident Vascular launches in San Jose and reveals itself with a $35M Series A from Vensana Capital to build an AI-powered IVUS platform for peripheral vascular interventions.

2025 · MARCH

Series B financing

The company closes an undisclosed Series B - Shangbay Capital, founding investor Vensana Capital, and two multinational strategics - to accelerate development toward FDA clearance.

Reader Questions

FAQ

What does Evident Vascular do?

It develops an AI-powered intravascular ultrasound (IVUS) platform that gives physicians real-time cross-sectional images inside blood vessels to guide peripheral vascular interventions.

Who founded the company?

It was co-founded in 2023 by CEO Howard Rosen, CTO Patrick Phillips, Ph.D., and Chief Product Officer Danielo Piazza.

How much funding has it raised?

A $35 million Series A from Vensana Capital in 2023, plus an undisclosed Series B closed in March 2025 with additional investors including Shangbay Capital.

Is the product available for sale?

Not yet. The company is developing the platform and pursuing FDA 510(k) clearance ahead of a planned U.S. market launch.

How is it different from existing IVUS systems?

Legacy IVUS was designed primarily for coronary procedures. Evident Vascular is building specifically for peripheral vessels and aims to eliminate the trade-off between image quality and workflow.

The Rolodex

Links & sources

Interviews and product-demo videos were not publicly available at publication time. Check the company’s LinkedIn for the latest media.