AcuityMD announced today that it raised $45 million to expand its commercial intelligence platform and advance medtech adoption.
Boston-based AcuityMD develops a platform that translates large volumes of healthcare data into intuitive workflows and recommendations. These workflows and recommendations align with the medtech industry’s commercial process. Data translated includes physician procedural volumes, product preferences, sites of care affiliations, peer networks and referral patterns.
Founded in 2019, AcuityMD now supports more than 200 medtech manufacturers. That includes six of what it considers the “top 10” manufacturers in the space, including BD, according to the company.
The latest funding for the company was led by ICONIQ Growth. Boston-based Atreides Management and New York-based Stepstone Group also participated. Existing investors Redpoint Ventures, Benchmark Capital and Artisanal Ventures also took part. This round brings AcuityMD’s funding to more than $83 million.
Bill Hawkins, former CEO of Medtronic, is also an investor in AcuityMD. He said in a news release that the company “has built an industry-specific platform that alleviates common pain points to help bring new treatments to patients faster.”
“We are fortunate to work with fantastic financial partners as well as experienced medtech industry executives who broaden the perspective of our customer advisory board,” said Michael Monovoukas, CEO and co-founder of AcuityMD. “With this additional capital, we aim to launch three new products to general availability, expand our pipeline management solution to more customers, and grow our engineering and product teams by 70% by the end of 2024 to support our mission of accelerating the adoption of cutting-edge medical technology.”
