# Channel Medsystems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/channel-medsystems

- Industry: Medical Devices & Equipment
- Headquarters: Berkeley, US
- Website: www.channelmedsystems.com
- Total disclosed funding: $48M
- Latest round: Series C (Aug 23, 2017)
- Investors on record: 7

## About

Channel Medsystems, Inc. is a US-based company specializing in innovative medical solutions, particularly focusing on endometrial ablation technology to treat heavy menstrual bleeding in women.Channel Medsystems, Inc. was founded in 2009 and is headquartered in Berkeley, US. The company focuses on developing medical devices, particularly the Cerene® Cryotherapy Device designed for endometrial ablation. The current CEO is Ric Cote, while the founder, Daniel Burnett, has a history of founding other ventures. The company has successfully raised USD 14.10 mn in a Series C funding round on September 9, 2021, bringing the total amount raised to USD 14.10 mn and establishing a current company valuation of USD 80.33 mn.Cerene, developed by Channel Medsystems, Inc., offers the Cerene® Cryotherapy Device, specifically designed for endometrial ablation aimed at treating heavy menstrual bleeding in premenopausal women. The procedure effectively ablates the endometrial lining of the uterus, providing relief from heavy periods and associated symptoms. It is performed in a physician's office without the need for general anesthesia, ensuring comfort and accessibility. The primary target audience includes women suffering from menorrhagia, and the product is marketed in North America with potential international reach.Channel Medsystems, Inc. generates revenue primarily through the sales of the Cerene® Cryotherapy Device to healthcare professionals and facilities treating heavy menstrual bleeding. Sales occur through direct transactions with trained physicians, complying with federal regulations on medical device sales. The pricing structure likely encompasses direct sales and service agreements, facilitating access for healthcare providers to the necessary devices for treatment.In September 2021, Channel Medsystems, Inc. raised USD 14.10 mn in growth funding led by InnovaHealth Partners and Green Park & Golf Ventures, with participation from returning investors Longwood Fund and Third Point Ventures. The company intends to utilize this funding to support the commercialization of the Cerene Cryotherapy Device aimed at addressing heavy menstrual bleeding. Future plans include potential expansion into new geographic markets, although specific regions and timelines for these expansions have not been disclosed.

## Funding rounds

- Series C, Aug 23, 2017, $14M — Aperture Venture Partners, Third Point, InCube Ventures, Boston Scientific Ventures, Longwood Fund, Scientific Health Development
- Series C, Jul 8, 2015, $24M — Aperture Venture Partners, Third Point, InCube Ventures, Boston Scientific Ventures, Longwood Fund, Scientific Health Development
- Series B, Apr 19, 2013, $9.8M — Aperture Venture Partners, InCube Ventures, Boston Scientific Ventures, Scientific Health Development, VentureHealth

## Investors

- Aperture Venture Partners (https://capitalatlas.ai/funds/aperture-venture-partners) — Series B, Series C
- InCube Ventures — Series B, Series C
- Boston Scientific Ventures (https://capitalatlas.ai/funds/boston-scientific-ventures) — Series B, Series C
- Scientific Health Development (https://capitalatlas.ai/funds/scientific-health-development) — Series B, Series C
- VentureHealth — Series B
- Third Point (https://capitalatlas.ai/funds/third-point) — Series C
- Longwood Fund (https://capitalatlas.ai/funds/longwood-fund) — Series C