SI-BONE closed a round of capital growth financing.
Here are five key notes:
1. The financing round amounted to $21 million.
2. Redline Capital Management, a new investor, led the round, which included participation from all major investors.
3. The company will primarily use the proceeds to fund further United States and European expansion in anticipation of the increased demand for minimally invasive surgical SI joint fusion in these markets.
4. Proceeds will also be used to enter other markets, including the Middle East, Asia and South America.
5. The SI joint fusion market is expected to grow six-fold over the next three years.