MONTEREY, Calif.– Elevation Spine, Inc., the leading innovator of integrated-fixation spinal technologies, today announced the completion of its Series B Preferred Stock financing, totaling $11 million. The funding was led by Technology Venture Partners (“TVP”) and included participation from Mutual Capital Partners (“MCP”) and existing investors. The company also announced the appointment of Donald Bossi and Bryson Hollimon, both of Technology Venture Partners, to its Board of Directors.
Elevation Spine plans to use the proceeds from the financing to ramp the commercial production of Saber-C® as well as support product development of future product extensions of the company’s Saber® Technology platform of products.
“We are excited to support the Elevation Spine team at this critical growth stage. Saber Technology is an important advancement in spinal fusion technologies,” said Don Bossi of TVP. “It allows surgeons to access hard-to-reach areas of the spine more easily and with fewer procedural steps. This differentiated technology provides significant advantages to the surgeon and the patient over current technologies and has a very exciting future.”
“Elevation Spine welcomes TVP and MCP to our team of investors,“ said Charles Gilbride, CEO of Elevation Spine. “This funding provides Elevation Spine with the capital to build out a full commercial team and expand the use of the Saber-C system. We will concurrently develop additional products utilizing Saber Technology to establish Saber as the leading platform technology in spinal fusions.”
