What is pulmonx?
Pulmonx Corporation operates at the intersection of medical technology and respiratory health, specializing in minimally invasive treatments for severe emphysema. The company's core value proposition centers on the Zephyr Endobronchial Valve, an FDA-approved implant designed to collapse diseased lung segments, thereby alleviating the debilitating effects of COPD. Beyond its flagship implant, Pulmonx provides a comprehensive ecosystem of diagnostic and planning tools, including the Chartis Pulmonary Assessment System and the StratX platform. These technologies enable clinicians to perform precise lung imaging and functional assessments, ensuring optimal patient selection and treatment outcomes. With over 40,000 patients treated globally, the company maintains a dominant market position, leveraging its proprietary technology to improve quality of life while reducing the burden of chronic respiratory disease on healthcare systems worldwide.
How much funding has pulmonx raised?
pulmonx has raised a total of $421.1M across 10 funding rounds:
Series A
$7.1M
Series B
$20M
Series C
$32M
Series D
$10M
Private Equity
$10M
Debt
$20M
Private Equity
$50M
Multiple Rounds
$272M
Series A (2003): $7.1M with participation from MedVenture Associates and Montreux Equity Partners
Series B (2007): $20M led by DeNovo Ventures, Latterell Venture Partners, Montreux Equity Partners, and MedVenture Associates
Series C (2010): $32M supported by Montreux Equity Partners, Kleiner Perkins Caufield & Byers, Latterell Venture Partners, MedVenture Associates, De Novo Ventures, and Healthcap Venture Capital
Series D (2012): $10M, investors not publicly disclosed
Private Equity (2014): $10M, investors not publicly disclosed
Debt (2014): $20M with participation from Oxford Finance, LLC
Private Equity (2015): $50M, investors not publicly disclosed
Debt (2020): $17M supported by CIBC
Debt (2020): $65M featuring Ally Bridge Group, ADAGE CAPITAL MANAGEMENT LP, Rock Springs Capital LLC, HealthQuest Capital, and Partner Fund Management , L.P.
Stock Issuance/Offering (2020): $190M, investors not publicly disclosed
Key Investors in pulmonx
Montreux Equity Partners
Montreux Growth Partners specializes in investing in high growth, commercial stage companies that offer category leading products, technologies, and services. The firm focuses on accelerating the scale of its investments to drive growth.
MedVenture Associates
MedVenture Technology Corporation specializes in the design, development, and manufacturing of minimally invasive catheter-based devices for original equipment manufacturers worldwide.
Kleiner Perkins Caufield & Byers
Kleiner Perkins is a Menlo Park-based venture capital firm that invests in early and growth-stage technology and life-science companies, providing capital and operational support from seed through IPO.
What's next for pulmonx?
Looking ahead, Pulmonx is well-positioned to leverage its recent capital infusion to expand its global footprint and deepen its penetration in the interventional pulmonology market. The strategic focus will likely remain on scaling the commercial infrastructure required to support the growing demand for the Zephyr valve, while simultaneously investing in clinical research to broaden the indications for its diagnostic platforms. As the company matures, the emphasis will shift toward operational efficiency and the integration of its digital health tools into standard clinical workflows. By maintaining a strong balance sheet and continuing to attract high-caliber institutional backing, Pulmonx is poised to sustain its growth trajectory, potentially exploring new therapeutic avenues within the broader respiratory care landscape to address unmet medical needs.
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