Huntsville, AL based spine company, Curiteva announced today they oversubscribed a $20.0 million Series A private funding round initiated late last year. The capital will be deployed to scale manufacturing, enhance product development, and fund the acquisition of novel technology. “We are sincerely grateful to our investors who expressed confidence in our strategic vision by investing personal capital during this uncertain time,” commented CEO Mike English.
A portion of the funds supported expansion of the company’s 35,000 square-foot facility to include manufacturing equipment, infrastructure improvements, and skilled personnel. The additional capital supports Curiteva’s commitment to the development or acquisition of novel technology and continued investment in R&D, sales, and marketing required to meet the aggressive growth goals for the company.
The commitment to a diversified platform business supporting contract customers and introduction of Curiteva branded implant systems enabled the company to expand operations and infrastructure through the COVID-19 shut-down of elective procedures and record 6 consecutive quarters of revenue growth since the launch of their first product in January 2019.
“I see so many exciting similarities to my last experience with a company that can scale manufacturing, control costs, and sustain rapid revenue growth,” commented Chief Financial Officer Phil Cupero who joined the company in May of last year. Mr. Cupero’s most recent experience was leading the finance division of a pharmaceutical manufacturer that grew from $240M to $1.2B in revenue and a $6B market cap during his tenure.
Curiteva indicated another exciting announcement is planned prior to year-end.
Curiteva is a privately held technology and manufacturing company dedicated to advancing spine surgery and improving clinical outcomes by partnering with providers and suppliers to deliver innovative and intuitive implant systems to the market. Our business is founded on a commitment to building world-class manufacturing, accelerating research and development, maintaining lean operational discipline, and delivering novel technology to meet the evolving needs of our customers and the patients they serve. For more information, please visit www.curiteva.com.