# Nevro

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

- Industry: Medical Devices & Equipment
- Headquarters: Redwood City, US
- Website: www.nevro.com
- Total disclosed funding: $140M
- Latest round: Series C (Mar 7, 2013)
- Investors on record: 11

## About

Nevro Corp. is a US-based medical device company specializing in spinal cord stimulation systems that leverage advanced technology to deliver effective pain relief for chronic pain sufferers.Founded in 2006 and headquartered in Redwood City, US, Nevro Corp. focuses on developing innovative spinal cord stimulation systems. The company underwent a significant pivot when it went public, raising USD 126 mn in November 2014 through an IPO, with Morgan Stanley and J.P. Morgan serving as joint bookrunners. The current CEO is D Grossman.Nevro Corp. specializes in innovative spinal cord stimulation (SCS) systems, particularly through its flagship product, HFX AdaptivAI™. This advanced system integrates artificial intelligence with evidence-based practices to provide responsive pain relief for patients experiencing chronic pain conditions, such as non-surgical back pain and painful diabetic neuropathy. Released with a focus on individualized patient care, HFX AdaptivAI™ utilizes real-time data insights and proactive remote monitoring to adapt treatment based on patient feedback and pain management progress. The company primarily serves healthcare providers, including pain management specialists and neurosurgeons, as well as directly impacting patients seeking relief from chronic pain. Nevro's products are marketed across various countries, with a strong presence in the United States and expanding reach into international markets such as Europe and Australia.Nevro Corp. generates revenue through the sale of its SCS systems, including the HFX AdaptivAI™ and related components that support chronic pain management. For the most recent year, 2024, the company's revenue was USD 408.52 mn, and it reported an EBITDA of USD -116.13 mn. The transaction structure typically involves direct sales to healthcare providers and institutions, with potential ongoing revenue from product consumables and support services. Nevro aims to foster long-term relationships with clients, focusing not only on the initial system installation but also on continued patient care and monitoring services.Nevro Corp. is strategically focused on launching its upcoming products, including extensions to the HFX AdaptivAI™ line, which are anticipated to enhance the treatment options for chronic pain management. The company is also planning to expand into new geographic markets, particularly targeting regions in Europe and Australia by 2025. The recent funding round, which raised USD 126 mn in November 2014, supports these initiatives by providing the necessary capital for product development and market expansion efforts.

## Funding rounds

- Series C, Mar 7, 2013, $48M — New Enterprise Associates, Three Arch Partners, Accuitive Medical Ventures, Johnson & Johnson Innovation, Novo Holdings, Bay City Capital, MPM BioImpact, Medtronic Ventures, Mayo Clinic
- Series B, Jul 15, 2011, $59M — Three Arch Partners, Aberdare Ventures, Accuitive Medical Ventures, Johnson & Johnson Innovation, Bay City Capital, MPM BioImpact, Mayo Clinic
- Series A, Aug 26, 2008, $22M — Three Arch Partners, Aberdare Ventures, Accuitive Medical Ventures, Bay City Capital, MPM BioImpact, Mayo Clinic
- Series A, Dec 4, 2006, $5.5M — Three Arch Partners, Aberdare Ventures, Bay City Capital, MPM BioImpact, Mayo Clinic, Venturi Group
- Seed, Jun 1, 2006, $5.5M — Three Arch Partners, Aberdare Ventures, Bay City Capital, MPM BioImpact, Mayo Clinic

## Investors

- Three Arch Partners (https://capitalatlas.ai/funds/three-arch-partners) — Seed, Series A, Series B, Series C
- Aberdare Ventures (https://capitalatlas.ai/funds/aberdare-ventures) — Seed, Series A, Series B
- Bay City Capital (https://capitalatlas.ai/funds/bay-city-capital) — Seed, Series A, Series B, Series C
- MPM BioImpact (https://capitalatlas.ai/funds/mpm-bioimpact) — Seed, Series A, Series B, Series C
- Mayo Clinic — Seed, Series A, Series B, Series C
- Venturi Group (https://capitalatlas.ai/funds/venturi-group) — Series A
- Accuitive Medical Ventures (https://capitalatlas.ai/funds/accuitive-medical-ventures) — Series A, Series B, Series C
- Johnson & Johnson Innovation (https://capitalatlas.ai/funds/johnson-johnson-innovation) — Series B, Series C
- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series C
- Novo Holdings — Series C
- Medtronic Ventures (https://capitalatlas.ai/funds/medtronic-ventures) — Series C