Cala Health Valuation, Funding & Investors
Cala Health is valued at $40M as of February 2016.
Last Cala Health valuation
$40M
Series B · Feb 2016
Last Cala Health funding round
$50M
Series C · Oct 2025
Cumulative funding Cala Health raised
$248M
across 6 funding rounds
Key investors in Cala Health
Lux Capital
GV
Johnson & Johnson Innovation
Lightstone Ventures
Action Potential Venture Capital
dRx Capital
About Cala Health
Cala Health develops wearable bioelectronic devices for neuromodulation therapies targeting essential tremor and Parkinson's disease from its base in Belmont, California. The company's Cala Trio delivers peripheral nerve stimulation via wristbands prescribed by neurologists, with clinical trials showing tremor reduction in over 70 percent of users. Cala Health advances devices for psychiatric and cardiac conditions through FDA-cleared pathways.
Founded
2014
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$40M (Feb 2016)
Sectors
Cala Health Valuation
Cala Health is currently valued at $40M, based on its Series B in February 2016.
The $18M round included Lightstone Ventures, Action Potential Venture Capital, GV, Johnson & Johnson Development Corporation, Lux Capital and 1 other investor.
Cala Health valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2016 | Series B | $40M |
Cala Health Funding History
Cala Health has raised a total of $248M across 6 funding rounds.
Cala Health's first fundraising round was a $3M Series A in August 2014. The most recent completed round was a $50M Series C in October 2025.
Cala Health funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2025 | Series C | Niterra Ventures (lead) | $50M | - | Cala Health is a bioelectronic medicine company developing FDA-cleared, noninvasive wearable neuromodulation therapies for essential tremor and Parkinson’s disease, using peripheral nerve stimulation via devices like the Cala kIQ™ System with TAPS Therapy. The company, founded in 2014 and headquartered in the San Francisco Bay Area, focuses on transforming chronic disease management through customer-centric innovation and has gained recognition including Fast Company's Most Innovative Medical Device Companies in 2025 and Medicare reimbursement support. In October 2025, Cala Health raised an oversubscribed $50M growth financing round with participation from Niterra Ventures, described as leading or participating depending on sources. The funding aims to accelerate commercialization, scale commercial operations, expand sales and marketing to educate patients and providers, and support development of new therapies in neurology, cardiology, and other chronic conditions. Previous funding includes a $77M round in November 2021 led by Ascension Ventures. Cala Health generates revenue through sales of its Cala kIQ™ System and TAPS Therapy, reimbursed by Medicare, commercial insurance, and direct-to-consumer prescriptions via healthcare providers, with potential free trials based on coverage. The company serves Medicare beneficiaries, veterans via the VA, and others, establishing a sustainable revenue stream while enhancing access. The investment aligns with Niterra Ventures' mission to improve life quality via cutting-edge technologies for chronic disease management. Cala plans to leverage the funds for R&D, market expansion into Europe and Asia, and new product launches for additional neurological disorders, building on clinical validation and payer relationships. |
| Dec 2024 | Series C | Alumni Ventures (lead); Nexus NeuroTech (lead); Vertex Growth Fund (lead) | $50M | - | Cala Health is a bioelectronic medicine company developing wearable neuromodulation therapies for chronic diseases, particularly non-invasive devices like Cala TAPS for hand tremor relief in essential tremor and Parkinson's disease patients. The company offers FDA-cleared, clinically validated noninvasive peripheral nerve stimulation delivered via a direct-to-home digital durable medical equipment platform. Founded in 2014 and headquartered in the San Francisco Bay Area, Cala Health was spun out of Stanford University. On December 9, 2024, Cala Health announced the initial closing of an oversubscribed $50 million growth round, co-led by Vertex Growth Fund and Nexus NeuroTech Ventures, with participation from existing investors including Alumni Ventures, Johnson & Johnson Innovation, Lux Capital, GV (Google Ventures), Action Potential, Lightstone, TriVentures, Fiscus, Reimagined Ventures, Ascension Ventures, Peak6, and OSF Ventures. The funding aims to accelerate commercialization following a positive Medicare Coverage Determination for Cala TAPS therapy, broaden patient and physician awareness, build clinical evidence, expand patient access, and support sales and marketing efforts. A CVS Health study presented at the Movement Disorders Congress highlighted TAPS therapy's benefits in reducing essential tremor-related healthcare resource utilization, costs, and improving outcomes. Previously, Cala Health raised $77 million in November 2021 led by Ascension Ventures, with new investors Dolby Family Ventures, PEAK6 Strategic Capital, and Innovatus Capital Partners, to expand patient access beyond essential tremor into Parkinson's, psychiatry, cardiology, and autoimmune disorders. An earlier $55 million Series B round was also completed. Total funding across rounds reaches approximately $263 million. The company continues developing therapies in neurology, cardiology, and psychiatry. |
| Nov 2021 | Series D | Ascension Ventures (lead); Innovatus Capital Partners; Dolby Family Ventures; Peak 6 | $77M | - | Cala Health, a bioelectronic medicine company founded in 2014 and headquartered in the San Francisco Bay Area, raised $77 million in a Series round led by Ascension Ventures in November 2021. New investors Dolby Family Ventures, PEAK6 Strategic Capital, and Innovatus Capital Partners joined the round alongside existing investors. The company develops non-invasive bioelectronic therapies, with its flagship product Cala Trio receiving FDA approval for treating essential tremor, supported by the world's largest clinical study in essential tremor patients. The International Essential Tremor Foundation identified Cala Trio as the only effective, non-pharmacologic and non-surgical treatment option for the condition. Cala Health planned to use the funding proceeds to expand patient access, advance innovation in its core essential tremor indication, and explore additional therapeutic opportunities in neurological diseases such as Parkinson's disease, as well as targets in psychiatry, cardiology, and autoimmune disorders. The company was spun out of Stanford University and was backed by leading healthcare and technology investors including Johnson & Johnson, GV (Google Ventures), dRx Capital, Lightstone Ventures, Lux Capital, and Action Potential Venture Capital. |
| May 2019 | Series C | Lightstone Ventures; Action Potential Venture Capital; Novartis Venture Fund; GV; Lux Capital; dRx Capital; Baird Capital; Triventures; StartUp Health; LifeSci Venture Partners; Johnson & Johnson Innovation | $50M | - | Cala Health, a bioelectronic medicine company founded in 2014 and based in Burlingame, CA, develops wearable neuromodulation therapies that deliver individualized peripheral nerve stimulation for chronic diseases, starting with essential tremor affecting over seven million people. The company announced a $50 million Series C financing on May 21, 2019, with new investors including Novartis Venture Fund, Baird Capital, LifeSci Venture Partners, TriVentures, and participation from existing backers such as Johnson & Johnson Innovation – JJDC, GV (Google Ventures), Lux Capital, Lightstone Ventures, Action Potential Venture Capital, and dRx Capital. This round brought total funding to over $70 million. The proceeds were earmarked for the commercial introduction of Cala Trio, a prescription wearable therapy for hand tremors in essential tremor patients, following FDA De Novo clearance for their therapy and 510(k) clearance for Cala Trio. Cala Health adopted an innovative direct-to-consumer distribution model, shipping devices directly to patients as a vertically integrated distributor, akin to Amazon's approach, to enhance accessibility. The financing coincided with momentum from completing enrollment in the PROSPECT study, the largest therapeutic study for essential tremor in the US, and a licensing agreement with Partners HealthCare Innovation and Massachusetts General Hospital for neuromodulation technologies targeting chronic pain, vagus nerve stimulation, and breath-synced stimulation for high blood pressure. Cala Health positions itself at the intersection of neuroscience, wearable technology, and bioelectronics, aiming to transform care for neurology, cardiology, and psychiatry indications. Strategic investors from pharma, medtech, and consumer tech bolstered the round, with industry veteran Stacy Enxing Seng joining as Independent Director and Board Chair. The company emphasized building a platform for noninvasive bioelectric treatments beyond essential tremor. Post-2019, Cala Health continued growth, securing another oversubscribed $50 million growth round in December 2024 led by Vertex Growth Fund and Nexus NeuroTech Ventures to advance commercialization of Cala TAPS therapy, following positive Medicare coverage and clinical evidence from CVS Health studies showing reduced healthcare costs and improved outcomes for essential tremor patients. |
| Feb 2016 | Series B | Lightstone Ventures; Action Potential Venture Capital; GV; Johnson & Johnson Development Corporation; Lux Capital; dRx Capital | $18M | $40M | Cala Health develops wearable bioelectronic medicine devices for treating chronic conditions like essential tremor through non-invasive neuromodulation. The company raised funding in a Series B - II round on February 16, 2016, with investors including Action Potential Venture Capital, dRx Capital, GV, Johnson & Johnson Development Corporation, Lightstone Ventures, and Lux Capital. This round had a post-money valuation of $40.39 million. Subsequent rounds built on this foundation, including a Series C in 2018 and further Series funding up to 2022, bringing total capital raised to approximately $157 million across nine rounds. Investors in later rounds continued participation from early backers like Johnson & Johnson Innovation – JJDC, Lux Capital, Lightstone Ventures, Action Potential Venture Capital, dRx Capital, and GV. |
| Aug 2014 | Series A | Lux Capital; Johnson & Johnson Innovation | $3M | - | - |
Who has invested in Cala Health?
20 investors have backed Cala Health across its funding rounds, including Lux Capital, GV, Johnson & Johnson Innovation, Lightstone Ventures, Action Potential Venture Capital and dRx Capital.
Lead investors include Niterra Ventures, Alumni Ventures, Nexus NeuroTech, Vertex Growth Fund and Ascension Ventures.
Cala Health Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 3 | Participant | Aug 2014 | |
| San Francisco, CA | 2 | Participant | Feb 2016 | |
| United States | 2 | Participant | Feb 2016 | |
| San Francisco, CA | 2 | Participant | Feb 2016 | |
 Basel | 2 | Participant | Feb 2016 | |
| United States | 2 | Participant | Aug 2014 | |
| Beijing | 1 | Participant | May 2019 | |
| New York City, NY | 1 | Participant | Nov 2021 | |
| New Brunswick, NJ | 1 | Participant | Feb 2016 | |
| Milwaukee, WI | 1 | Participant | May 2019 | |
 Herzliya | 1 | Participant | May 2019 | |
| New York City, NY | 1 | Participant | May 2019 | |
| New York City, NY | 1 | Participant | May 2019 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialCala Health Competitors
Cala Health competitors include listed companies like Optomed and AnteoTech, and private ones like Coherence Neuro, Feldan Therapeutics, RTsafe and Medtor.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Cambridge | Private | - | - | $40M | - | |
 Quebec City | Private | - | - | $40M | - | |
 Athens | Private | - | - | $40M | - | |
| Los Angeles, CA | Private | - | - | $40M | - | |
 Finland | Publicly listed | $20M | ($5M) | $39M | 1.7x | |
 Australia | Publicly listed | $689K | ($4M) | $42M | 15.8x |
Cala Health Public Comps
Cala Health is still privately-owned, but its public comps include Mentice, Meditera, Baumer, Optomed, OssDsign, Singular Health, AnteoTech, BrainCool, Elutia and Biohit.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $28M | $148K | 1.2x | 1.1x | 238.3x | 19.9x | |||
| $59M | $3M | 0.5x | - | 11.5x | - | |||
| $42M | $9M | 0.7x | - | 3.3x | - | |||
| $20M | ($5M) | 1.7x | 1.7x | (6.2x) | (19.4x) | |||
| $18M | ($5M) | 1.4x | 1.5x | (5.4x) | (5.9x) | |||
| $1M | ($5M) | 34.1x | - | (7.3x) | - | |||
| $689K | ($4M) | 51.3x | 15.8x | (8.8x) | (19.2x) | |||
| $4M | ($3M) | 10.0x | 8.5x | (11.1x) | (13.0x) | |||
This data is available for Pro users. Sign up to see all Cala Health competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Cala Health
| When was Cala Health founded? | Cala Health was founded in 2014. |
| Where is Cala Health headquartered? | Cala Health is headquartered in San Francisco, CA, United States. |
| Is Cala Health publicly listed? | No, Cala Health is a private, VC-backed company. |
| What is Cala Health's valuation? | Cala Health was last valued at $40M in its Series B in February 2016. |
| How much funding has Cala Health raised? | Cala Health has raised $248M across 6 funding rounds. |
| What was Cala Health's last funding round? | Cala Health's last funding round was a $50M Series C in October 2025, led by Niterra Ventures. |
| Who are Cala Health's investors? | Cala Health's investors include Lux Capital, Lightstone Ventures, Action Potential Venture Capital, GV, dRx Capital, Johnson & Johnson Innovation, Novartis Venture Fund, Innovatus Capital Partners, Johnson & Johnson Development Corporation, Baird Capital and 10 others. |
| Which companies are comparable to Cala Health? | Companies comparable to Cala Health include Coherence Neuro, Feldan Therapeutics, RTsafe, Medtor, Optomed and AnteoTech. |
See companies similar to Cala Health
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