What is miraDry?
miraDry, Inc. operates as a specialized medical device manufacturer dedicated to addressing the global prevalence of excessive underarm sweat. By developing the first and only FDA-cleared treatment for this condition, the firm has carved out a unique niche in the aesthetic and dermatological healthcare sector. The company's business model centers on providing non-invasive, permanent solutions that empower healthcare providers to improve patient quality of life, effectively targeting a market segment affecting millions of individuals worldwide.
How much funding has miraDry raised?
miraDry has raised a total of $118.4M across 11 funding rounds:
Debt
$1M
Series C
$35.8M
Debt
$5M
Private Equity
$26M
Series D
$10M
Debt
$1.3M
Debt
$2M
Private Equity
$9.6M
Debt
$2.5M
Debt (2010): $1M, investors not publicly disclosed
Series C (2011): $35.8M featuring Domain Associates, Cross Creek Capital, Morgenthaler Partners, Aisling Capital, and Split Rock Partners
Debt (2013): $5M backed by The Foundry, LLC, Domain Associates, and Morgenthaler Private Equity
Private Equity (2013): $26M with participation from The Foundry, LLC, Domain Associates, and Morgenthaler Private Equity
Series D (2014): $10M led by Domain Associates
Debt (2015): $1.3M, investors not publicly disclosed
Debt (2016): $2M, investors not publicly disclosed
Private Equity (2016): $9.6M, investors not publicly disclosed
Debt (2017): $2.5M, investors not publicly disclosed
Key Investors in miraDry
Domain Associates
An investment advisory firm established in 1985, specializing in biotech investments with a track record of over 190 biopharmaceutical and device company financings.
Morgenthaler Partners
A premier venture capital and private equity firm with over 40 years of experience, focusing on high-growth opportunities within the Information Technology and Life Sciences sectors.
Split Rock Partners
A venture capital firm that provides flexible capital to software, internet services, and healthcare companies, assisting management teams through various stages of scaling and market development.
What's next for miraDry?
With a history of successful Series A through Series D rounds and subsequent private equity and debt financing, miraDry is well-positioned for continued operational expansion. The strategic deployment of $2.5M suggests a focus on deepening clinical adoption and potentially broadening the application of its core technology. As the company matures, the emphasis will likely shift toward optimizing global distribution channels and maintaining its competitive advantage in the specialized medical device landscape, supported by the long-term backing of its institutional partners.
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