What is CVRx?
CVRx, Inc. is dedicated to the development, manufacturing, and commercialization of neuromodulation solutions aimed at improving the lives of patients suffering from cardiovascular diseases. Its flagship product, Barostim, is a neuromodulation device indicated for the treatment of heart failure with reduced ejection fraction or systolic heart failure. The company distributes its products through a direct sales force and a network of sales agents and independent distributors across the United States and internationally. Founded in 2000 and headquartered in Minneapolis, Minnesota, CVRx operates within the critical MedTech sector, addressing significant unmet needs in cardiac care.
How much funding has CVRx raised?
CVRx has raised a total of $478.4M across 11 funding rounds:
Series C
$30.1M
Series D
$65M
Series A
$84M
Private Equity
$29.6M
Series F
$12M
Debt
$15M
Multiple Rounds
$170.7M
Other Financing Round
$50M
Series C (2006): $30.1M, investors not publicly disclosed
Series D (2007): $65M supported by Kearny Venture Partners and InterWest Partners
Series A (2008): $84M featuring SightLine Partners, Frazier Healthcare Partners, and InterWest Partners
Private Equity (2013): $29.6M backed by Sterling Capital Management and SightLine Partners
Series F (2013): $12M with participation from DaVita and Ysios Capital
Debt (2014): $15M led by Silicon Valley Bank
Private Equity (2016): $57.7M, investors not publicly disclosed
Debt (2016): $20M featuring Oxford Finance
Series G (2016): $93M backed by JJDC, New Enterprise Associates, Ysios Capital, Action Potential Venture Capital, Windham Venture Partners, and Gilde Healthcare
Other Financing Round (2020): $50M with participation from Strategic Healthcare Investment Partners, Venrock Healthcare Capital Partners, Hatteras Venture Partners, and Vensana Capital Management LLC
Key Investors in CVRx
SightLine Partners
Sightline Partners is an alternative investment manager specializing in secondary buyouts and joint venture transactions within high-quality medical technology, digital health, life sciences, and healthcare services sectors. They aim to support growth-stage healthcare companies by providing access to capital and operational guidance for successful exits.
Ysios Capital
Ysios Capital is a leading life sciences venture capital firm that invests in highly innovative biotechnology companies worldwide. The firm provides resources to biotech ventures focused on developing novel therapies for high unmet medical needs.
JJDC
Johnson & Johnson is a global healthcare company that develops pharmaceuticals and medical technologies. It provides innovative medicines, surgical products, and medical devices used in areas such as oncology, immunology, neuroscience, and cardiovascular care.
What's next for CVRx?
The substantial enterprise-level funding and recent strategic investment indicate CVRx is in a scaling phase, poised for further expansion and market penetration. This capital infusion is expected to accelerate the company's commercialization efforts, potentially supporting expanded clinical trials, broader market access, and further product development. The company's focus on innovative neuromodulation technology positions it to capitalize on the growing demand for advanced cardiovascular therapies, suggesting a trajectory towards increased market share and potential future financing rounds or strategic partnerships.
See full CVRx company page
