Titan Spine reports rapid growth, raises $7.5M in series D funding: 6 things to know

Written by Shayna Korol | January 09, 2018 | Print  |

Titan Spine, based in Mequon, Wis., raised another $7.5 million for its series D funding round, which is now at $15 million, according to a December U.S. Securities and Exchange Commission report, BizTimes.com details.

Here is what you should know:

 

1. The funding came entirely from Texas private equity firm Southlake Equity Group, according to Southlake's managing partner, Tom Keene.

 

2. Southlake initially invested $7.5 million in June 2016 and deployed another $7.5 million in a second installment in February 2017. The SEC filing was not filed until December.

 

3. The investment gave Southlake a minority ownership stake in Titan Spine. Peter Ullrich, MD, the CEO of Titan Spine and others constitute the majority ownership group.

 

4. The funds are being used for general corporate purposes, including infrastructure and inventory, according to Titan Spine President Kevin Gemas.

 

5. Titan Spine has been growing at over 40 percent per year for over 10 years. It now has about 110 employees.

 

6. Titan Spine also raised an indefinite series B equity fund for early investors that launched in June 2012 and totaled $202,262, and a series B round launched in August 2016 now totals $1.8 million.

 

More in surface technology:

NuVasive launches thoracolumbar interbody device with porous PEEK technology: 5 things to know

Initial cases with Life Spine's Simpact Tri-Fin Sacroiliac Joint Fusion System complete — 5 insights

K2M launches 1st 3D-printed expandable corpectomy cage with cervical indication: 4 key notes

© Copyright ASC COMMUNICATIONS 2018. Interested in LINKING to or REPRINTING this content? View our policies here.