# Lanx

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lanx

- Industry: Medical Devices & Equipment
- Headquarters: Westminster, US
- Website: www.lanx.com
- Total disclosed funding: $49M
- Latest round: Series C (May 13, 2013)
- Investors on record: 6

## About

Lanx, Inc. specializes in the design and manufacture of identification display solutions, focusing on high-quality lanyards and accessories that ensure secure identification for various sectors.Founded in 2003 and headquartered in Westminster, US, Lanx, Inc. provides essential identification solutions. The company was acquired by Biomet, Inc. in October 2013, which is part of a portfolio managed by Blackstone Group, Goldman Sachs Merchant Banking Division, Kohlberg Kravis Roberts, and TPG. The acquisition was completed in November 2013. Dan Gladney serves as the CEO of Lanx, Inc. Over the years, the company has managed a total of 7 deals, with the most recent funding round being a Series C, where they raised USD 15.00 mn, led by GCM Grosvenor, alongside other investors including Chicago Growth Partners and Goldman Sachs Merchant Banking Division.Lanx, Inc. specializes in providing high-quality lanyards, badge holders, and various accessories designed for identification protection. The core product offerings serve to keep identification badges, Common Access Cards (CAC), and other forms of ID readily visible and accessible. Targeting a diverse clientele including government entities and corporations, the company ensures that their products meet specific demands across the United States. Customizable solutions that cater to both functional and aesthetic needs are delivered, facilitating seamless identification in various environments such as workplaces and events.Lanx, Inc. generates revenue primarily through direct sales of lanyards and related accessories to both individual consumers and business clients. The firm operates on a B2B model, providing bulk orders for organizations, as well as a direct-to-consumer approach for individual purchases. Transactions typically involve single purchases or volume orders, with structured pricing plans that reflect the quantity and type of products ordered. The firm accepts Government Purchase Cards, allowing tax-exempt transactions for government customers, contributing to a steady revenue stream. Flagship products include customizable lanyards and specialized badge holders, forming the foundation of the company's sales strategy.Lanx, Inc. plans to expand its product line by designing new lanyards and accessories tailored for enhanced security and functionality, with expected launches in 2024. The company aims to penetrate additional markets, specifically targeting international clientele in Europe and Asia by late 2024. The recent funding of USD 15.00 mn from the Series C round will be utilized to support these initiatives, enhancing product development and market expansion efforts.

## Funding rounds

- Series C, May 13, 2013, $15M — GCM Grosvenor, Noro-Moseley Partners, Chicago Growth Partners, Oakwood Medical Investors, Hercules Capital, Goldman Sachs Asset Management
- Series C, Oct 11, 2012, $2M — Noro-Moseley Partners, Chicago Growth Partners
- Series C, Sep 24, 2012, $6.7M — Noro-Moseley Partners, Chicago Growth Partners
- Series A, Apr 15, 2008, $25M — Chicago Growth Partners, Oakwood Medical Investors, Goldman Sachs Asset Management

## Investors

- Chicago Growth Partners (https://capitalatlas.ai/funds/chicago-growth-partners) — Series A, Series C
- Oakwood Medical Investors (https://capitalatlas.ai/funds/oakwood-medical-investors) — Series A, Series C
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series A, Series C
- Noro-Moseley Partners (https://capitalatlas.ai/funds/noro-moseley-partners) — Series C
- GCM Grosvenor — Series C
- Hercules Capital (https://capitalatlas.ai/funds/hercules-capital) — Series C