Carlsmed’s Spine Tech Backed by New Series C

Carlsmed, an AI-enabled personalized surgery Medtech company has closed a $52.5 million Series C funding round co-led by B Capital and U.S. Venture Partners. These proceeds will be used to extend the commercial reach of the company’s Aprevo platform that is used for lumbar fusion procedures, and to expand its capabilities for cervical fusion procedures which is targeted to launch in 2025.

The Aprevo platform creates special surgical tools and implants that perfectly match the specific needs of a person’s spine, based on detailed scans of their body. This allows surgeries to  be more precise and lead to faster patient recoveries and with fewer post-surgical complications.

“We started Carlsmed to improve patient outcomes through personalized surgery, and recent clinical publications indicate that Aprevo® patient specific implants are achieving this goal,” said Mike Cordonnier, the CEO of Carlsmed. “Our AI-enabled technology platform and innovative business model allows us to scale production rapidly to meet growing demand and empower patients.”

The Food and Drug Administration (FDA) has granted Breakthrough Device designation to both the Aprevo® lumbar and cervical patient-specific interbody fusion devices. This designation means the device offers more effective treatment or diagnosis for serious or life-threatening conditions compared to existing options. It also means the device gets extra support from the FDA to speed up its development, review, and approval process, so it can reach patients faster.

“Carlsmed is transforming spine surgery through the application of its AI-enabled technology and has proven to be a category creator in a market overdue for meaningful innovation,” said Dr. Robert Mittendorff, the general partner and head of healthcare at B Capital. “Personalized surgery will be the standard of care in spine, and we look forward to supporting this transformation led by Carlsmed.”

B Capital invests in entrepreneurs and companies at various stages of growth, from early to later stages, with a specific interest in enterprise technology, financial technology, and healthcare. The firm, with over $6 billion in assets under management, was founded in 2015 and is headquartered in Los Angeles, California.

U.S. Venture Partners (USVP) specializes in early-stage startups with a specific interest in cybersecurity, enterprise software, consumer, and healthcare sectors. The firm is headquartered in Menlo Park, California.