What is PROCEPT BioRobotics?
PROCEPT BioRobotics, incorporated in 2007 and headquartered in San Jose, California, is at the forefront of developing transformative solutions in urology. The company designs, manufactures, and markets image-guided robotic systems engineered for minimally invasive urologic surgery. Its primary focus is on treating benign prostatic hyperplasia (BPH), utilizing a proprietary robotic platform that integrates real-time multidimensional imaging, personalized treatment planning, automated robotics, and heat-free waterjet ablation for precise tissue removal. This innovative approach aims to deliver consistent and durable outcomes, irrespective of prostate characteristics or surgeon expertise. PROCEPT BioRobotics is publicly traded on the NASDAQ under the ticker symbol PRCT.
How much funding has PROCEPT BioRobotics raised?
PROCEPT BioRobotics has raised a total of $601.3M across 10 funding rounds:
Series C
$6M
Debt
$7.7M
Series A
$7.7M
Series D
$42M
Series B
$42M
Series E
$118M
Series F
$77M
Series G
$85M
Share Placement
$163.9M
Debt
$52M
Series C (2013): $6M, investors not publicly disclosed
Debt (2014): $7.7M, investors not publicly disclosed
Series A (2014): $7.7M, investors not publicly disclosed
Series D (2015): $42M featuring Novo A/S
Series B (2015): $42M backed by Novo Holdings
Series E (2018): $118M with participation from Viking Global Investors, Perceptive Advisors, and CPMG
Series F (2020): $77M, investors not publicly disclosed
Series G (2021): $85M supported by Perceptive Advisors, Viking Global Investors, Fidelity Investments, CPMG, Duquesne Family Office, and T. Rowe Price
Share Placement (2021): $163.9M, investors not publicly disclosed
Debt (2022): $52M backed by CIBC Innovation Banking
Key Investors in PROCEPT BioRobotics
Viking Global Investors
Viking Global Investors is a global investment firm specializing in research-intensive, long-term focused investments using fundamental analysis to select public and private equity interests across industries and geographies. Viking is headquartered in Greenwich, Connecticut, with offices in New York, Hong Kong, London, and San Francisco.
Perceptive Advisors
Founded in 1999 and based in New York, NY, Perceptive Advisors is an investment firm managing around $7 billion in assets, focused on funding innovative healthcare and life sciences technologies.
CIBC Innovation Banking
CIBC Innovation Banking provides strategic financial advice and capital to technology companies, supporting their growth and innovation through tailored banking solutions.
What's next for PROCEPT BioRobotics?
The recent major strategic investment in PROCEPT BioRobotics signals a pivotal stage in its corporate trajectory, likely indicating a move towards scaling commercial operations and further research and development. Given its focus on a significant unmet need in urologic surgery, this capital infusion is poised to accelerate the adoption of its advanced robotic platform. The company's commitment to innovation in minimally invasive procedures suggests a strategic emphasis on expanding its market reach and potentially exploring new therapeutic applications within urology and beyond. Future growth will likely involve enhancing its product pipeline, broadening its global presence, and solidifying its position as a leader in surgical robotics.
See full PROCEPT BioRobotics company page
