What is Spine Wave?
Spine Wave operates at the forefront of the medical technology sector, specializing in the design and commercialization of expandable fusion devices and minimally invasive surgical solutions. By addressing the complex needs of spine surgeons and their patients, the company has built a diverse ecosystem of products, including the Leva Interbody Device and the GraftMag Graft Delivery System. Its market strategy centers on delivering highly differentiated, clinically validated technologies that improve patient outcomes while streamlining surgical workflows. As a key player in the musculoskeletal space, Spine Wave continues to leverage its technical expertise to capture market share and drive innovation in spinal care.
How much funding has Spine Wave raised?
Spine Wave has raised a total of $155.8M across 9 funding rounds:
Series B
$22.3M
Series C
$36.5M
Series D
$45M
Series E
$17.6M
Debt
$4.4M
Other Financing Round
$11M
Debt
$2M
Debt
$2M
Series B (2003): $22.3M led by Canaan Partners, California Technology Ventures, LLC, Thoma Cressey Equity Partners, Morgenthaler Private Equity, Collinson Howe & Lennox, New Venture Partners, New Enterprise Associates, and NeuroVentures Capital
Series C (2006): $36.5M supported by Morgenthaler Venture Partners, CHL Medical Partners, New Enterprise Associates, Canaan Partners, Thoma Cressey Equity Partners, California Technology Partners, Foundation Medical Partners, and Sprout Capital
Series D (2007): $45M featuring Canaan Partners, Thoma Cressy Equity Partners, Inc, California Technology Partners, Foundation Medical Partners, Morgenthaler Private Equity, CHL Medical Partners, New Enterprise Associates, and Sprout Group
Series E (2011): $17.6M backed by New Leaf Venture Partners, Morgenthaler Private Equity, Canaan Partners, Foundation Medical Partners, and New Enterprise Associates
Debt (2016): $4.4M with participation from California Technology Partners, New Enterprise Associates, MB Ventures, and Industry Ventures
Other Financing Round (2016): $11M led by MB Venture Partners, California Technology Ventures, LLC, Collinson Group, and Acadia Woods Partners
Debt (2020): $2M supported by PPP
Debt (2021): $2M featuring PPP
Key Investors in Spine Wave
New Enterprise Associates
Established in 1977 and headquartered in Menlo Park, California, New Enterprise Associates is a prominent venture capital firm focused on helping entrepreneurs build transformative businesses.
Canaan Partners
Canaan is an early-stage venture capital firm that invests in technology and healthcare companies, backing founders from seed through growth stages in areas such as biopharma and digital health.
Morgenthaler Private Equity
Morgenthaler is a premier venture capital and private equity firm with over 40 years of experience, specializing in investments within the Information Technology and Life Sciences sectors.
What's next for Spine Wave?
With the support of its long-term investment partners, Spine Wave is well-positioned to accelerate its commercial expansion and deepen its penetration in the global spine market. The company's strategic roadmap focuses on the continued recruitment of high-caliber sales leadership and the expansion of its independent distributor network to support the adoption of its latest surgical systems. By maintaining a focus on R&D and operational excellence, Spine Wave aims to solidify its status as a leader in the development of next-generation spinal fusion technologies, ensuring that its portfolio remains at the cutting edge of clinical practice.
See full Spine Wave company page
