Renovia was established in 2016 by Marc Beer, Yolanda Lorié, and Ramon Iglesias, MD. The company’s mission is to develop and commercialized products designed for better first-line diagnosis and treatment in order to improve the quality of life for millions of women worldwide who suffer from pelvic floor disorders. The company’s technology allows treatment through precise visualization of the pelvic movement in real-time during the pelvic floor muscle training, while at the same time monitoring usage and progress made over time. Renovia seeks scalable and cost-effective care delivered using the power of digital health.
After successfully closing a Series A financing round with leading healthcare venture capital funds, the company recently managed to obtain $32 million after a successful Series B round, as well as $10 million in venture debt. The startup medical technology company will use the proceeds from the funding to support clinical trials, corporate development, future commercial launches, and product development pipeline. The company already obtained the approval of Leva from the Food and Drug Administration earlier this year, in April. The new financial support will help test 4 new products at Renovia, as well a new generation of Leva.
The Series B round was led by New York’s Perceptive Advisers and Missouri’s Ascension Ventures, and also included the participation of Inova Strategic Investments, Western Technology Investment, OASF Ventures, Cormorant Asset Management, and Longwood Fund – an investing group that backed the company early in its founding. Additionally, the role of advisor to Renovia was filled by BayCross Capital Group. Marc Beer expressed the fact that the company is thrilled to have the support of leading investors of the healthcare sector who share Renovia’s vision to improve the lives of women affected by pelvic floor disorders.
When talking about the Series B round of financing, Marc Beer also noted that combining the company’s proprietary sensor technologies and form factors with a digital platform would give the company’s customers valuable data in order to inform new treatment options and to drive better understanding about pelvic floor disorders. The CEO also considers that the funding recognizes the value of the Renovia’s innovative product pipeline. Learn more: https://www.linkedin.com/in/marcbeer
About Marc Beer:
Armed with a BS degree earned from Miami University, Beer made a name for himself in the healthcare sector, having over 25 years of development as well as commercialization experience when it comes to pharmaceuticals, diagnostics, devices, and biotechnology. Prior to founding Renovia and taking the role of Chief Executive Officer, Beer held various executive roles for a number of companies in the healthcare industry, experiencing success in his ventures. One role saw Beer become the Founding CEO at ViaCell in April 2000. Under his leadership, the company grew to over 300 employees, became publicly traded in 2005, and got purchased in 2007.