What is CVRx?
CVRx is dedicated to developing and commercializing advanced neuromodulation technologies for patients suffering from cardiovascular conditions. Its flagship product, Barostim, is an innovative neuromodulation device designed to alleviate symptoms in patients with heart failure with reduced ejection fraction and systolic heart failure. The company operates a direct sales force and utilizes sales agents and distributors across the United States and internationally to market its solutions. Founded in 2000 and headquartered in Minneapolis, Minnesota, CVRx is at the forefront of medical device innovation in the cardiovascular space.
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 InterWest Partners and Kearny Venture Partners
Series A (2008): $84M featuring Frazier Healthcare Partners, InterWest Partners, and SightLine Partners
Private Equity (2013): $29.6M backed by SightLine Partners and Sterling Capital Management
Series F (2013): $12M with participation from Ysios Capital and DaVita
Debt (2014): $15M led by Silicon Valley Bank
Private Equity (2016): $57.7M, investors not publicly disclosed
Series G (2016): $93M featuring Action Potential Venture Capital, Gilde Healthcare, JJDC, Ysios Capital, Windham Venture Partners, and New Enterprise Associates
Debt (2016): $20M backed by Oxford Finance
Other Financing Round (2020): $50M with participation from Vensana Capital Management LLC, Strategic Healthcare Investment Partners, Venrock Healthcare Capital Partners, and Hatteras Venture Partners
Key Investors in CVRx
Frazier Healthcare Partners
Frazier Healthcare Partners is a prominent venture capital firm that invests in healthcare companies, focusing on therapeutic and diagnostic innovations. Their involvement suggests a strategic alignment with CVRx's mission to advance cardiovascular treatments.
SightLine Partners
Sightline Partners specializes in alternative investments within the medical technology and healthcare services sectors. Their participation highlights CVRx's appeal to investors seeking high-quality, growth-stage healthcare opportunities.
Hatteras Venture Partners
Hatteras Venture Partners is a venture capital firm dedicated to investing in transformative companies in biotech, MedTech, and HealthTech. Their backing of CVRx underscores the company's innovative approach to medical devices and patient care.
What's next for CVRx?
The substantial enterprise-level funding and recent strategic investment indicate a strong market confidence in CVRx's technology and its potential to address significant unmet needs in cardiovascular care. This capital infusion is likely to accelerate the company's commercial expansion, further research and development initiatives, and potentially support broader clinical trials or regulatory approvals. CVRx is positioned to enhance its market presence and solidify its role as a leader in neuromodulation for heart failure management.
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