Invuity Inc secures $36M in Series E funding round
Invuity Inc has bagged $36 million in its Series E financing round, a statement about the funding said.
HealthCare Royalty Partners led the round which was also participated in by Valence Life Sciences, InterWest Partners, Kleiner Perkins Caufield and Byers and other investors. The funding is comprised of $21 million in equity and as much as 15 million in debt. The funds from the most recent funding round will be utilized to throttle the commercialization of the company's increasing number of products, the statement said.
Invuity Inc Chief Executive Officer Philip Sawyer said in the statement, "We have experienced considerable growth recently, with revenue more than doubling each year. This funding allows us to continue our strong momentum in a variety of high value procedures across multiple specialties. Invuity is poised to accelerate product introductions and expand the commercialization team in the coming year. The executive team and our current investors are aligned in these goals and we are very pleased to welcome HC Royalty as an investor for the next phase of the company's growth and expansion."
Invuity is an advanced medical devices developer that focuses on enhancing the access and viewing of surgeries which are categorized as "minimally invasive and minimal access surgeries." Based in San Francisco, California, the company develops advanced hand-held illumination devices and access systems that can be used for different surgical fields like the spine, breast and thyroid oncology, orthopedics and plastic surgery, the statement said.
HealthCare Royalty Partners Founding Managing Director Dr. Gregory B. Brown said, "As a surgeon, I understand the challenges that inadequate illumination of the surgical site can present for both doctors and their staff. Invuity's technology has demonstrated that better visualization results in safer and more efficient surgeries. We believe this technology has broad applications across multiple surgical specialties and presents an exciting, robust market opportunity."