Today, AcuityMD officials announced that it has raised $45 million to further the adoption of medtech and grow its commercial intelligence platform.
Boston-based AcuityMD creates a platform that converts massive amounts of medical data into clear workflows and suggestions. The commercial method used by the medtech industry is in line with these workflows and guidelines. Physician procedure volumes, product preferences, affiliations with sites of treatment, peer networks and referral patterns are among the data that are translated.
AcuityMD was established in 2019 and currently serves over 200 medtech manufacturers. ICONIQ Growth led the company’s most recent fundraising round. Stepstone Group, based in New York and Atreides Management, based in Boston, were also involved. Participating were Redpoint Ventures, Benchmark Capital and Artisanal Ventures, among other current investors. With the funding round, AcuityMD has raised over $83 million in funding.
Bill Hawkins, former CEO of Medtronic, is also an investor in AcuityMD. He said in a press conference that the company “has built an industry-specific platform that alleviates common pain points to help bring new treatments to patients faster.”
“We are fortunate to work with fantastic financial partners as well as experienced medtech industry executives who broaden the perspective of our customer advisory board,” said Michael Monovoukas, CEO and co-founder of AcuityMD. “With this additional capital, we aim to support our mission of accelerating the adoption of innovative medical technology by growing our engineering and product teams by 70% by the end of 2024 and launching three new products into general availability.”
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