Medrobotics Valuation, Funding & Investors
Medrobotics is valued at $585M as of January 2017.
Last Medrobotics valuation
$585M
Series H · Jan 2017
Last Medrobotics funding round
$20M
Series H · Jan 2017
Cumulative funding Medrobotics raised
$91M
across 4 funding rounds
Key investors in Medrobotics
Hercules Capital
Pittsburgh Life Sciences Greenhouse
Eagle Ventures
About Medrobotics
Medrobotics is a medical robotics firm commercializing the Flex Robotic System, a steerable and shapeable endoscopic platform. The system enables minimally invasive access to complex anatomies like the throat, lung, and prostate through a single small incision, surpassing rigid tool limitations.
Founded
2005
HQ
United StatesWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$585M (Jan 2017)
Medrobotics Valuation
Medrobotics is currently valued at $585M, based on its Series H in January 2017.
Medrobotics' valuation has grown 2.9x from $205M at its Series E in May 2014 to $585M in January 2017, across 3 priced rounds.
Medrobotics valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2017 | Series H | $585M |
| Oct 2014 | Series F | $205M |
| May 2014 | Series E | $205M |
Medrobotics Funding History
Medrobotics has raised a total of $91M across 4 funding rounds.
Medrobotics' first fundraising round was a $26M Series E in May 2014. The most recent completed round was a $20M Series H in January 2017.
Medrobotics funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2017 | Series H | - | $20M | $585M | Medrobotics, based in Raynham, Massachusetts, developed the Flex robot-assisted surgery platform, a flexible robotic system for minimally invasive procedures. The platform received FDA 510(k) clearance in July 2015 for transoral ear, nose, and throat applications and CE Mark approvals for transoral procedures in 2014 and colorectal procedures in 2016. The company aimed to expand into single-port general surgery, gynecology, and urology via abdominal approaches, with funding supporting development of more fully robotic instruments. In late January 2017, around January 26-27, Medrobotics closed a Series H funding round of approximately $20-24.2 million from undisclosed existing investors, bringing total funding since 2006 to over $100 million and eventually $179-197 million across 17 rounds. Proceeds were allocated to new indications like single-port procedures and next-generation Flex enhancements. Traction included positive data from an 80-patient post-market study showing 94% visualization success and 91% biopsy success in difficult-to-reach throat areas. The company positioned Flex as pioneering steerable robotics for colorectal applications. Medrobotics competed in the crowded surgical robotics market against leaders like Intuitive Surgical's da Vinci, Transenterix, Mazor Robotics, and others including Titan Medical, Accuray, and Hansen Medical. The firm focused on underserved areas with cost-effective, easy-to-train systems. Later rounds included a $25M Debt-III in 2018 and $1.5M loan in 2020, but the company ceased operations around 2019. |
| Nov 2015 | Series G | Pittsburgh Life Sciences Greenhouse; Eagle Ventures | $25M | - | Medrobotics, a Raynham, Massachusetts-based medical robotics company founded in 2005 as a spinoff from Carnegie Mellon University, develops the Flex Robotic System, the first robot-assisted surgical platform with a flexible scope for minimally invasive access to hard-to-reach areas in otolaryngology (ENT), colorectal, and other procedures. The system received FDA 510(k) clearance for transoral procedures in July 2015 and CE Mark approval earlier for related indications, enabling visualization and biopsies in difficult areas like the tongue base and vocal cords, with strong clinical results from an 80-patient study showing 94% success in access and 91% in biopsies. In 2015, Medrobotics raised $25 million in what appears to be a preferred stock or equity financing (possibly Series G), backed by investors including Eagle Ventures and Pittsburgh Life Sciences Greenhouse, to support commercialization and U.S. hospital sales of the FDA-cleared Flex system following its otolaryngology approval. This brought total venture funding to over $70-78 million. A separate $20 million round was confirmed later in 2015 (possibly Series F) from existing investors including the same parties, for expanding indications like single-port general and gynecological procedures and next-gen Flex development; another $25 million venture debt came later from Western Technology Investment. The company focused on growing demand for Scarfree surgery in ENT and colorectal applications, with further clearances in 2017 for colorectal and other uses, though it later faced challenges including a 2020 shutdown auction. |
| Oct 2014 | Series F | - | $20M | $205M | Medrobotics Corporation, headquartered in Raynham, Massachusetts, develops flexible robotic systems for minimally invasive surgery, including the Flex System, which provides single-site access and visualization for hard-to-reach anatomical locations such as the throat, vocal cords, and colorectal areas. The platform features snake-like robots with advanced vision and tool channels, enabling procedures in tortuous paths without additional structural support. Originally spun out from Carnegie Mellon University as Cardiorobotics, the company focuses on otolaryngology, general, and gynecological applications, with CE Mark approvals in Europe for transoral, colorectal, and retractor indications by 2014-2015, and FDA 510(k) clearance for transoral use in 2015. On October 21, 2014, Medrobotics closed its Series F funding round, raising $21.02 million at a post-money valuation of $205.49 million, backed by undisclosed investors. This round extended the company's runway for commercialization efforts, particularly in Europe following CE Mark receipt for the Flex System, and preparations for FDA clearance and U.S. market entry. Prior rounds included a Series C of $11.7 million in December 2011 from existing shareholders, angels, and Pittsburgh Life Sciences Greenhouse, bringing total equity financing to $28.3 million at that point. Traction included a post-market study of 80 patients using Flex for throat lesion procedures, achieving 94% success in visualization/access and 91% biopsy success, with 58% in difficult areas. By 2015, the company confirmed additional $20 million and $25 million rounds from existing investors to expand indications and develop next-generation Flex with more robotic instruments. Cumulative funding reached approximately $180-198 million across 17 rounds by later years, though Medrobotics pursued limited European sales pre-U.S. clearance. |
| May 2014 | Series E | Hercules Capital (lead) | $26M | $205M | Medrobotics Corp. is a Massachusetts-based medical robotics company developing the Flex Robotic System, a robotic-assist platform enabling surgeons single-site access, two-handed dexterity, and visualization for hard-to-reach anatomical locations. The system received CE Mark approval for limited marketing in Europe but was not available in the U.S. at the time. Hercules Technology Growth Capital, a key investor, provided multiple debt and equity commitments to Medrobotics, including a $10 million commitment announced in Q1 2013 and additional financings totaling over $100 million across six rounds. In October 2014, Medrobotics closed a Series F preferred stock financing round of $21.02 million led by Hercules Capital at a post-money valuation of $205.49 million, with a price per share of $2.10. Cumulative funding from Hercules reached $109.3 million by late 2014, supporting platform development and European commercialization. The company focused on R&D and regulatory milestones rather than commercial sales in the U.S. Hercules' investments emphasized growth capital for venture-stage medtech firms like Medrobotics, alongside peers in biopharma and diagnostics. |
Who has invested in Medrobotics?
3 investors have backed Medrobotics across its funding rounds, including Hercules Capital, Pittsburgh Life Sciences Greenhouse and Eagle Ventures.
Lead investors include Hercules Capital.
Medrobotics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 1 | Lead | May 2014 | |
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Start Free TrialMedrobotics Competitors
Medrobotics competitors include listed companies like Yuil Robotics and Delcath Systems, and private ones like Lightforce Orthodontics, Ring Therapeutics, SmartCella and Mytra.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Private | - | - | $400M | - | |
| United States | Private | - | - | $591M | - | |
 Stockholm | Private | - | - | $575M | - | |
 South Korea | Publicly listed | $27M | ($16M) | $597M | - | |
| San Francisco, CA | Private | - | - | $571M | - | |
| United States | Publicly listed | $85M | $939K | $564M | 4.7x |
Medrobotics Public Comps
Medrobotics is still privately-owned, but its public comps include Curiox Biosystems, Yuil Robotics, OrthoPediatrics, Delcath Systems, Robostar, Nanosonics, Oculis Holding, Ocumension, BrainsWay and Matthews International.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4M | ($17M) | 156.6x | - | (33.9x) | - | |||
| $27M | ($16M) | 21.9x | - | (35.8x) | - | |||
| $236M | ($12M) | 2.6x | 2.4x | (51.6x) | 28.2x | |||
| $85M | $939K | 5.5x | 4.7x | 501.0x | 28.4x | |||
| $55M | ($3M) | 9.7x | - | (160.9x) | - | |||
| $145M | $18M | 3.6x | 3.5x | 29.6x | 31.1x | |||
| - | ($121M) | - | 283.0x | (2.8x) | (3.3x) | |||
| $120M | ($3M) | 4.1x | - | (178.3x) | - | |||
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Common questions about Medrobotics
| When was Medrobotics founded? | Medrobotics was founded in 2005. |
| Where is Medrobotics headquartered? | Medrobotics is headquartered in United States. |
| Is Medrobotics publicly listed? | No, Medrobotics is a private, VC-backed company. |
| What is Medrobotics' valuation? | Medrobotics was last valued at $585M in its Series H in January 2017. |
| How much funding has Medrobotics raised? | Medrobotics has raised $91M across 4 funding rounds. |
| What was Medrobotics' last funding round? | Medrobotics' last funding round was a $20M Series H in January 2017. |
| Who are Medrobotics' investors? | Medrobotics' investors include Hercules Capital, Pittsburgh Life Sciences Greenhouse and Eagle Ventures. |
| Which companies are comparable to Medrobotics? | Companies comparable to Medrobotics include Lightforce Orthodontics, Ring Therapeutics, SmartCella, Yuil Robotics, Mytra and Delcath Systems. |
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