Venus Concept, a developer and manufacturer of devices for the medical aesthetic market, has secured $10 million in financing. The company’s backer is U.S. venture capital firm Longitude Capital, which is focused on investing in medical technology and drug development companies. Funding proceeds will allow Venus Concept to further its R&D investments, strengthen sales operations in growing markets and implement its subscription-based business model worldwide. Led by a team of executives and researchers in the medical aesthetics industry, the Toronto-based company was founded in 2009.
Venus Concept Secures $10 Million in Funding
Venus Concept, a leading medical aesthetic company present in 47 countries worldwide, is proud to announce a minority interest investment of $10 Million by Longitude Capital, a private investment firm focused on venture growth investments in medical technology and drug development companies.
We are extremely pleased to have partnered with Longitude Capital as this represents a new milestone in our company’s history and growth – Domenic Serafino
Toronto, Ontario (PRWEB) May 22, 2014
In less than four years, Venus Concept has touched and improved the lives of thousands of patients and aesthetic practitioners worldwide by delivering unparalleled clinical outcomes, and comprehensive aesthetic solutions through a unique subscription model.
Longitude Capital’s investment allows Venus Concept to further its investments in research and development, strengthen sales operations in growing markets, and implement its unique subscription based business model worldwide.
Domenic Serafino, CEO of Venus Concept stated, “We are extremely pleased to have partnered with Longitude Capital as this represents a new milestone in our company’s history and growth. We believe that this capital funding strengthens our ability to aggressively expand our global footprint and allow us to leverage our growing base of loyal customers.”
Juliet Tammenoms Bakker, Managing Director of Longitude Capital stated “We are very pleased to have invested in Venus Concept and to support the company’s differentiated technology and approach to the market, offering affordable, effective aesthetic treatments to a broader range of customers interested in such services.”
About Venus Concept – Led by a team of world-renowned executives and researchers in the medical aesthetics industry, Venus Concept has established itself as an industry leader, delivering comprehensive aesthetic solutions combined with dedicated customer service worldwide.
About Longitude Capital – The firm builds balanced portfolios of mid-stage to commercial-stage companies with clinically de-risked assets that are likely to achieve key value-creating milestones within three to five years. Besides traditional venture capital investments, Longitude’s investment team also proactively searches for “special situations”, such as spin-outs, recapitalizations, PIPEs and structured transactions, across both privately-held and publicly-traded companies. Longitude Capital operates bi-coastally with offices in Menlo Park, CA and Greenwich, CT and has over $700 million in assets under management.
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