Aerin Medical Valuation, Funding & Investors

Aerin Medical is valued at $285M as of June 2022.

Last Aerin Medical valuation

$285M

Undisclosed stage · Jun 2022

Last Aerin Medical funding round

$33M

Undisclosed stage · Jan 2025

Cumulative funding Aerin Medical raised

$158M

across 5 funding rounds

Key investors in Aerin Medical

  • OrbiMed
  • Questa Capital Management
  • Ally Bridge Group
  • KCK
  • Ares Management
  • Targeted Technology Fund

Aerin Medical Overview

About Aerin Medical

Aerin Medical is a Sunnyvale, California-headquartered health technology company developing radiofrequency devices for nasal airway treatments. Its VivAer system treats nasal obstruction, while RhinAer addresses chronic rhinitis by remodeling soft tissues in outpatient procedures. FDA-cleared in 2019 and 2020, the products equip ENT physicians in over 500 U.S. clinics as surgery alternatives.


Founded

2011

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$285M (Jun 2022)

Aerin Medical Valuation

Aerin Medical is currently valued at $285M, based on its undisclosed-stage round in June 2022.

The $60M round was led by Ally Bridge Group, with participation from KCK, OrbiMed and Questa Capital Management.

Aerin Medical's valuation has grown 5.6x from $51M at its Series C in March 2016 to $285M in June 2022, across 2 priced rounds.

Aerin Medical valuation by funding round

Aerin Medical valuation by funding round
DateStageValuation
Jun 2022Undisclosed stage$285M
Mar 2016Series C$51M

Aerin Medical Funding History

Aerin Medical has raised a total of $158M across 5 funding rounds.

Aerin Medical's first fundraising round was a $500K seed round in February 2014. The most recent completed round was a $33M undisclosed-stage round in January 2025.

Aerin Medical funding rounds

Aerin Medical funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2025Undisclosed stageAlly Bridge Group (lead); KCK Medtech (lead); OrbiMed (lead); Questa Capital Management (lead); Ares Management$33M-Aerin Medical, a medical device company specializing in ear, nose, and throat (ENT) solutions, completed a $32.5 million equity funding round on January 13, 2025, led by existing major investors KCK MedTech, Questa Capital, OrbiMed, and Ally Bridge Group, with new participation from Ares Management (also referred to as Ares Capital). The company also secured a debt facility from Ares to refinance existing loans and provide additional financial flexibility. Proceeds are intended to support commercial expansion, R&D investments, and clinical evidence generation for products like VivAer for nasal obstruction and RhinAer for chronic rhinitis. This Series F-II or late-stage round (dated December 27, 2024, in some sources or January 2025) follows a prior $60 million Series F in May/June 2022 led by Ally Bridge Group with participation from KCK, Questa, OrbiMed, and others. Aerin has raised approximately $235 million across 12 rounds from 12 investors, treating over 150,000 patients with its office-based ENT technologies. CEO Matt Brokaw highlighted the funding's role in strengthening financial position amid market momentum. Investors expressed confidence in Aerin's management, clinical data, and market penetration in unmet needs for nasal conditions. KCK MedTech's Karen Long, board chair, emphasized deepening market access. The financing positions Aerin for growth in ENT care.
Jun 2022Undisclosed stageAlly Bridge Group (lead); KCK; OrbiMed; Questa Capital Management$60M$285MAerin Medical, based in Sunnyvale, California, develops non-invasive Ear, Nose, and Throat (ENT) technologies using proprietary temperature-controlled radiofrequency. Its key products include VivAer for treating nasal obstruction, launched in 2018, and RhinAer for chronic rhinitis, launched in 2020. By June 2022, over 60,000 patients had been treated with these products, supported by robust clinical data including 10 new peer-reviewed publications in the prior year. On June 16, 2022, Aerin Medical closed a $60 million Series F equity financing round led by new investor Ally Bridge Group, with participation from existing major investors KCK MedTech, Questa Capital, and OrbiMed. Ally Bridge Group Managing Director Kevin Reilly joined the board. Proceeds were intended to scale commercialization, expand market access, and meet growing demand from ENT physicians and patients, building on strong reception and clinical foundation. One source reports a post-money valuation of $285.12 million for this round. The company has continued raising capital post-2022, including a $32.48 million Series F-II in December 2024 and $32.5 million equity in early 2025, both involving the same core investors plus Ares Management, to fuel commercial growth, innovation, and clinical evidence expansion.
Aug 2020Undisclosed stageQuesta Capital Management (lead); KCK; OrbiMed$48M-Aerin Medical is a privately held medical device company based in Sunnyvale, CA, focused on developing non-invasive procedures and devices for treating nasal airway conditions, targeting otolaryngologists (ENT physicians) and their patients. On August 17, 2020, the company closed a $48 million equity financing round led by new investor Questa Capital, with participation from OrbiMed and existing investor KCK Group. Proceeds were allocated to accelerate commercial growth, support new clinical studies, and develop additional products. As part of the investment, Questa Capital Founder and Managing Partner Ryan Drant joined Aerin's board of directors. The company simultaneously announced the appointment of Matt Brokaw as President and Chief Executive Officer, bringing extensive experience in commercial leadership within the ENT sector from prior roles at Tusker Medical, Spirox, Entellus Medical, Stryker, Acclarent, Johnson & Johnson, and Smith+Nephew. Karen Long, Managing Director at KCK and Chairman of Aerin's Board, highlighted the strengthened leadership and investor partnership to drive sustainable growth. Aerin Medical continued raising capital in subsequent rounds, including a $60 million Series F in 2022 led by Ally Bridge Group with participation from KCK, Questa, and OrbiMed, and later rounds totaling over $234 million across 12 financings as of 2024.
Mar 2016Series CTargeted Technology Fund (lead)$17M$51MAerin Medical is a medical device company based in Sunnyvale, California, focused on developing non-invasive treatments for nasal breathing disorders. The company developed the InFlux System, utilizing proprietary non-ablative radiofrequency energy technology to selectively target and remodel tissues contributing to nasal congestion, addressing conditions caused by anatomic obstruction and mucosal dysfunction. In March 2016, Aerin Medical closed a $16.7 million Series C financing round in two stages: an initial closing of $6.1 million led by Targeted Technology Fund, followed by a second closing of $10.6 million led by KCK Group, resulting in a post-money valuation of $50.76 million. CEO Fred Dinger stated the funds would be utilized for building clinical evidence and establishing early commercialization in select markets. At the time of the round, clinical studies and early clinical use had been conducted in over 100 patients in both the US and Europe, demonstrating that Aerin's treatments rapidly alleviated nasal obstruction symptoms with minimal patient discomfort and durable results. The company subsequently launched its VivAer and RhinAer products to address nasal obstruction and chronic rhinitis, with over 60,000 patients treated with Aerin Medical products by June 2022, when the company closed an additional $60 million financing round.
Feb 2014Seed-$500K--

Who has invested in Aerin Medical?

7 investors have backed Aerin Medical across its funding rounds, including OrbiMed, Questa Capital Management, Ally Bridge Group, KCK, Ares Management and Targeted Technology Fund.

Lead investors include Ally Bridge Group, KCK Medtech, OrbiMed, Questa Capital Management and Targeted Technology Fund.


Aerin Medical Investors

Investors in Aerin Medical by funding rounds participated
InvestorHQRoundsRoleFirst check
OrbiMedUnited StatesNew York City, NY3LeadAug 2020
Questa Capital ManagementUnited StatesSan Francisco, CA3LeadAug 2020
KCKUnited StatesNew York City, NY2ParticipantAug 2020
Ally Bridge GroupHong KongHong Kong2LeadJun 2022
Targeted Technology FundUnited StatesSan Antonio, TX1LeadMar 2016

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Aerin Medical Competitors

Aerin Medical competitors include listed companies like Anika Therapeutics and Medios, and private ones like AZTherapies, Omniscient Neurotechnology, Tianchen Biotechnology and EndoQuest Robotics.

Public and private companies comparable to Aerin Medical
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AZTherapiesUnited StatesBoston, MAPrivate--$285M-
Omniscient NeurotechnologyAustraliaSydneyPrivate--$284M-
Anika TherapeuticsUnited StatesUnited StatesPublicly listed$113M($5M)$281M2.2x
Tianchen BiotechnologyChinaTianjinPrivate--$290M-
MediosGermanyGermanyPublicly listed$2.4B$97M$296M0.2x
EndoQuest RoboticsUnited StatesHouston, TXPrivate--$271M-

Aerin Medical Public Comps

Aerin Medical is still privately-owned, but its public comps include Standard BioTools, Anika Therapeutics, NN, Treace Medical Concepts, Medios, TriSalus Life Sciences, Surgical Science, Tess Holdings Co, Medipost and CapsoVision.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Standard BioTools$85M($95M)----
Anika Therapeutics$113M($5M)2.4x2.2x(50.4x)17.9x
NN$422M$17M1.4x1.3x34.5x10.5x
Treace Medical Concepts$213M($46M)1.5x1.5x(7.0x)(85.4x)
Medios$2.4B$97M0.2x0.2x4.4x4.2x
TriSalus Life Sciences$45M($34M)6.4x5.7x(8.6x)(16.3x)
Surgical Science$101M$18M1.9x1.9x11.2x9.4x
Tess Holdings Co$236M$37M3.1x2.2x19.8x-

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Common questions about Aerin Medical

When was Aerin Medical founded?Aerin Medical was founded in 2011.
Where is Aerin Medical headquartered?Aerin Medical is headquartered in San Francisco, CA, United States.
Is Aerin Medical publicly listed?No, Aerin Medical is a private, VC-backed company.
What is Aerin Medical's valuation?Aerin Medical was last valued at $285M in its undisclosed-stage round in June 2022.
How much funding has Aerin Medical raised?Aerin Medical has raised $158M across 5 funding rounds.
What was Aerin Medical's last funding round?Aerin Medical's last funding round was a $33M undisclosed-stage round in January 2025, led by Ally Bridge Group, KCK Medtech, OrbiMed and Questa Capital Management.
Who are Aerin Medical's investors?Aerin Medical's investors include OrbiMed, Questa Capital Management, KCK, Ally Bridge Group, Targeted Technology Fund, KCK Medtech and Ares Management.
Which companies are comparable to Aerin Medical?Companies comparable to Aerin Medical include AZTherapies, Omniscient Neurotechnology, Anika Therapeutics, Tianchen Biotechnology, Medios and EndoQuest Robotics.

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