# Profound Medical

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/profound-medical

- Industry: Medical Devices & Equipment
- Headquarters: Mississauga, Canada
- Website: www.profoundmedical.com
- Total disclosed funding: $9.7M
- Latest round: Series A (May 30, 2011)
- Investors on record: 2

## About

Profound Medical Corp., based in Canada, specializes in developing innovative ultrasound ablation technologies to provide incision-free treatment for prostate conditions, enhancing patient care through advanced medical devices.Founded in 2008 in Mississauga, Canada, Profound Medical Corp. focuses on developing advanced technologies for treating prostate cancer and benign prostatic hyperplasia (BPH). The company's founders include Boudino de Jong, Joseph DeJonge, and Rajiv Chopra, with Arun Menawat serving as the CEO. The company has successfully raised USD 35.00 mn in PIPE funding on December 5, 2024, which marks the total amount raised to date. Profound Medical has completed a total of 9 deals throughout its history.Profound Medical specializes in innovative, incision-free ultrasound ablation technologies, primarily focusing on the TULSA-PRO® system. This advanced medical device uses transurethral ultrasound ablation to treat localized prostate cancer and benign prostatic hyperplasia (BPH), utilizing real-time MRI imaging for precise treatment delivery. The TULSA Procedure offers customizable treatment plans, allowing physicians to effectively target specific tissue volumes. The product has received CE marking, Health Canada approval, and FDA 510(k) clearance, enabling its use across various international markets, including Europe, Canada, and the United States. Profound Medical's clientele includes hospitals and specialized medical centers, with end-users being healthcare professionals administering the TULSA Procedure to patients seeking treatment for prostate conditions.In 2022, Profound Medical generated revenue of USD 6.68 mn, while reporting an EBITDA of USD -30.52 mn for the same year. The company generates revenue through the sale of its proprietary TULSA-PRO® system and associated services, which include training and support for healthcare providers utilizing the technology. Revenue is typically derived from direct sales to medical institutions, partnerships for product implementation, and ongoing customer support agreements following the initial sale of the TULSA-PRO® system.In December 2024, Profound Medical Corp. raised USD 35 mn in PIPE funding led by new investors Lake Street Capital and Raymond James Ltd. This funding will support the commercialization and development of the TULSA-PRO® and Sonalleve® systems in the U.S. and globally, as well as for working capital and general corporate purposes. The company aims to enhance its product offerings and expand into new markets, with a focus on increasing its presence in the U.S. healthcare market.

## Funding rounds

- Series A, May 30, 2011, $9.7M — BDC Capital, Genesys Capital Management

## Investors

- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series A
- Genesys Capital Management (https://capitalatlas.ai/funds/genesys-capital-management) — Series A