# Shoulder Innovations

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/shoulder-innovations

- Industry: Medical Devices & Equipment
- Headquarters: Grand Rapids, US
- Website: www.shoulderinnovations.com
- Total disclosed funding: $60M
- Latest round: Series E (Mar 6, 2025)
- Investors on record: 14

## About

Shoulder Innovations, Inc. is a US-based company specializing in advanced medical devices for shoulder surgeries, particularly in total and reverse shoulder arthroplasty, enhancing surgical outcomes for patients.Founded in 2015, Shoulder Innovations, Inc. is headquartered in Grand Rapids, US. The company focuses on developing innovative technology for orthopedic surgery. Sergio Gutierrez, the founder, has experience in the medical device field, having previously contributed to other healthcare innovations. In total, the company has completed 10 deals, with its most recent being a Series E funding round, where it raised USD 20.11 mn led by US Venture Partners, alongside returning and new investors. The total amount raised to date is USD 20.11 mn, with a current company valuation of USD 165.27 mn.Shoulder Innovations specializes in advanced medical devices designed for shoulder surgeries, focusing on total and reverse shoulder arthroplasty. Their primary offerings include the InSet™ Total Shoulder System and InSet™ Reverse Shoulder Arthroplasty, aimed at improving surgical outcomes. Supporting products include the InSet™ Tray System and ProVoyance™ Shoulder Planning Software, which assist in preoperative planning and execution. The company's products are tailored for patients with compromised rotator cuffs and are utilized by hospitals and surgical centers globally, including regions in North America, Europe, and Asia.Shoulder Innovations generates revenue through direct sales of its surgical products to hospitals and outpatient surgical centers. The sales structure is predominantly B2B, where healthcare providers purchase devices required for orthopedic procedures. Their flagship products, such as the InSet™ Total Shoulder System, are sold at prices reflecting their innovative design and clinical benefits. Revenue comes from one-time purchases of surgical devices and potential ongoing partnerships that may involve supply agreements or collaborative clinical studies.In March 2025, Shoulder Innovations, Inc. raised USD 20.11 mn in a Series E funding round to advance the commercialization of its InSet™ Total Shoulder and Reverse Shoulder Arthroplasty Systems. The company plans to utilize the funding to support new product development and general corporate purposes. Upcoming initiatives include the design and launch of new products aimed at enhancing surgical efficiency and patient outcomes. Additionally, the company aims to expand into new markets, targeting regions in Europe and Asia by 2026, further broadening its global footprint.

## Funding rounds

- Series E, Mar 6, 2025, $20M — US Venture Partners, Gilde Healthcare, Aperture Venture Partners, Arboretum Ventures, Sectoral Asset Management, Gilmartin Capital
- Series D, Feb 10, 2023, $32M — US Venture Partners, Gilde Healthcare, Aperture Venture Partners, Lightstone Ventures, Gilmartin Capital
- Series A, Oct 22, 2018, $5.6M — Michigan Angel Fund, Wakestream Ventures, Genesis Innovation Group
- Series A, May 9, 2017, $1.5M — InvestMichigan! Growth Capital Fund, Start Garden, Michigan Angel Fund, Biosciences Research & Commercialization Center, Genesis Innovation Group, Novus Bioventures
- Seed, Feb 14, 2017, $1M — Michigan Angel Fund

## Investors

- Michigan Angel Fund (https://capitalatlas.ai/funds/michigan-angel-fund) — Seed, Series A
- InvestMichigan! Growth Capital Fund — Series A
- Start Garden — Series A
- Biosciences Research & Commercialization Center (https://capitalatlas.ai/funds/biosciences-research-commercialization-center) — Series A
- Genesis Innovation Group (https://capitalatlas.ai/funds/genesis-innovation-group) — Series A
- Novus Bioventures — Series A
- Wakestream Ventures (https://capitalatlas.ai/funds/wakestream-ventures) — Series A
- US Venture Partners (https://capitalatlas.ai/funds/us-venture-partners) — Series D, Series E
- Gilde Healthcare (https://capitalatlas.ai/funds/gilde-healthcare) — Series D, Series E
- Aperture Venture Partners (https://capitalatlas.ai/funds/aperture-venture-partners) — Series D, Series E
- Lightstone Ventures (https://capitalatlas.ai/funds/lightstone-ventures) — Series D
- Gilmartin Capital (https://capitalatlas.ai/funds/gilmartin-capital) — Series D, Series E
- Arboretum Ventures (https://capitalatlas.ai/funds/arboretum-ventures) — Series E
- Sectoral Asset Management (https://capitalatlas.ai/funds/sectoral-asset-management) — Series E