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news.Spineology, a provider of minimally invasive spinal surgery devices, has closed on $7.5 million financing.
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The proceeds from this financing are expected to fund additional commercialization, product development and clinical research efforts for the company, which serves the $4 billion spinal market.
This round of financing was a private placement, led by Minneapolis-based Oakridge Financial and includes multiple investors. The finance announcement follows the recent addition of eight direct sales representatives and the ongoing expansion of Spineology’s distributor network.
John Booth, CEO of Spineology, said: “The company has made significant strides in many areas over the last few years with very limited capital resources. With this new capital, we are well positioned to expand on all fronts of the business.”