AcuityMD raised $45M in a Series B funding round to accelerate the adoption of cutting-edge medical technology

Company

Location

About

The company raised $31 million in Series A funding led by Redpoint Venture Partners, with support from Benchmark. Could we unleash the power of innovation to help these smaller companies that have really innovative technologies get those products out to market quicker, faster and get feedback, so they can innovate and continue to produce?,” asks Monovoukas, describing the initial germ of the idea for AcuityMD. “Instead, what ends up happening is the only path that a small company has to get their products to market is to go and get acquired by a big incumbent enterprise. Since announcing its seed raise in May of 2021, AcuityMD claims that medtech hardware companies have identified more than 40,000 new opportunities using its software, which translates to over $2 billion worth of leads added to the sales pipeline. “We wanted these big things out of our healthcare system, like value-based healthcare or personalized medicine,” explains AcuityMD’s founder and CEO Mike Monovoukas. While we started using AcuityMD with one product line, we’ve now expanded our engagement to include our full joint preservation portfolio.”“[Our customers are] trying to sell and educate surgeons about which products to use in which settings. If it sounds frustrating as a salesperson, well, that’s what AcuityMD is here to resolve; to find opportunities for your sales process. What we needed was analytics, information and procedural insights — AcuityMD was a game changer,” says Ben Joseph, VP of Commercial and Corporate Development, Anika. The medical device industry is worth nearly a half a trillion dollars, and yet somehow there is no intelligent, simple and modern tool to handle go-to-market components of the business,” explains Logan Bartlett, managing director, Redpoint Ventures, highlighting how AcuityMD was successful in raising its $31 million Series A.