Wound care company Soluble Systems wrapped up a $3.5 million private equity funding round, raising most of the cash from existing company insiders, board members and executives.
Of the total 57 investors, only 10 are 1st-timers and the remaining are current stakeholders who chose to up the ante in the most recent round. None of the new cash came from venture capital firms, the company told MassDevice.com.
The newly raised cash will help support expansion of the company’s sales force, CEO Kerry McCarter told us.
The Newport News, Virginia-based company has FDA clearance for 2 of its wound care products: an artificial skin graft called TheraSkin and a moisture-retaining dressing called TheraGauze.