San Francisco surgical lighting company Invuity Inc. secured $36 million in a Series E funding round, planning on using the new cash to "accelerate commercial initiatives."
Invuity develops hand-held lighting systems that aim to improve visibility and access during minimally invasive surgeries. The company’s proprietary Eigr lighting technology combines lighting with tissue retractors so that the illumination remains inside of incisions.
Invuity has a product portfolio of varied Eigr systems designed for different surgeries, including spinal, orthopedic, breast, plastic and general procedures.
New funding was sold through a combination of $21 million in equity and up to $15 million in debt, according to a press release. Investment was led by HealthCare Royalty Partners and joined by existing investors Valence Life Sciences, InterWest Partners, Kleiner Perkins Caufield & Byers and others.
"We have experienced considerable growth recently, with revenue more than doubling each year. This funding allows us to continue our strong momentum in a variety of high value procedures across multiple specialties," Invuity CEO Philip Sawyer said in prepared remarks. "Invuity is poised to accelerate product introductions and expand the commercialization team in the coming year."