Theator announced today that it raised $24 million in an extension of its Series A, bringing the round to $39.5 million raised in total.
Palo Alto, California-based Theator announced the initial $15.5 million Series A in February 2021, with the extended round led by Insight Partners. Existing investors including Blumberg Capital, Mayo Clinic, NFX, StageOne Ventures, iAngels, and former Netflix Chief Product Officer Neil Hunt also participated.
New growth investors including iCON and TripActions’ CEO and Co-founder Ariel Cohen joined the round, according to a news release.
The company said the additional investment will be used to continue its commercial expansion and accelerate the rollout of its Surgical Intelligence Platform in operating rooms and healthcare systems around North America. Theator added that the funding extension follows “significant commercial traction,” including its expansion into urology this year.
Harnessing artificial intelligence (AI) and computer vision to automatically analyze every operation, Theator’s Surgical Intelligence Platform institutionalizes the routine capture of surgical video data, generating actionable insights to optimize patient outcomes and raise the standard of patient care.
Theator has now raised $42.5 million to date and has collaborated with Mayo Clinic and also partnered with the Canadian Association of General Surgeons (CAGS).
“This funding is a strong vote of confidence in our vision, team, and the field of Surgical Intelligence as the cornerstone of the future of surgery,” Theator CEO and co-founder Dr. Tamir Wolf said in the release. “Surgical Intelligence is already demonstrating significant improvement in surgical quality and safety. It’s thrilling to hear about the impact our partners and collaborators have achieved thus far, and we look forward to this latest investment advancing our mission to transform surgery and alleviate variability and disparity in surgical care worldwide.”
