Key Highlights
- $45M Series B funding led by ICONIQ Growth, with Atreides Management and Stepstone Group.
- 10x increase in annual recurring revenue since 2022 Series A raise.
- Support for over 200 MedTech manufacturers, including six of the top 10 globally.
- Plans to launch three new products and expand engineering and product teams by 70% by the end of 2024.
- 25% sales growth for top active sales reps, over $10 billion opportunity pipeline created.
Source: Business Wire
Notable Quotes
- “AcuityMD’s innovative platform is reminiscent of other transformative, vertical-specific platforms that we have supported. We believe that there are also exciting opportunities to extend into other product areas and expand the value proposition, and ultimately for MedTech companies to use AcuityMD as their complete commercial operating system.” —Tengbo Li, Partner at ICONIQ Growth
- “I’m acutely aware of the unique challenges MedTech companies face when bringing products to market. AcuityMD has built an industry-specific platform that alleviates common pain points to help bring new treatments to patients faster. I am thrilled to be partnering with AcuityMD as it enters its next phase of growth.” — Bill Hawkins, former CEO at Medtronic
- “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.” — Michael Monovoukas, CEO and co-founder at AcuityMD
SoHC's Take
AcuityMD’s latest funding round marks a significant milestone in the company’s growth trajectory. With strong backing from prominent investors like ICONIQ Growth, AcuityMD is poised to further revolutionize the MedTech industry. Their impressive 10x increase in annual recurring revenue and partnerships with top-tier MedTech manufacturers underscore their market leadership. The planned expansion of their product offerings and team growth will likely drive further innovation and adoption of their platform, positioning AcuityMD as a pivotal player in the commercial MedTech landscape.
