# The Foundry

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/the-foundry

- Industry: Healthcare IT
- Headquarters: Menlo Park, US
- Website: www.thefoundry.com/
- Total disclosed funding: $3M
- Latest round: Series A (Jan 12, 2010)
- Investors on record: 3

## About

Based in the US, The Foundry, LLC specializes in creating advanced medical devices that address critical health challenges, focusing on products for cardiovascular and respiratory conditions.The Foundry, LLC is a Menlo Park, US-based company focused on developing innovative medical solutions. Founded in 1998, the firm has been involved in 7 deals, with its most recent funding round occurring on June 10, 2014, when it raised USD 9.07 mn. The company is led by CEO Erik Engelson and Hanson Gifford, although no additional background on the founders is available.The Foundry specializes in the development of innovative medical devices that address significant clinical needs across various health conditions. Among its core product offerings are the Symplicity® Catheter System by Ardian®, designed for renal denervation to treat hypertension, and the Zephyr Valve by Emphasys Medical®, aimed at endobronchial lung volume reduction for severe emphysema. The company is also known for the Merci Retriever® by Concentric Medical, utilized for ischemic stroke treatment, and the MitraClip® developed by Evalve, Inc., used for transcatheter mitral valve repair. These products serve a diverse client base that includes hospitals, healthcare providers, and clinicians, benefiting patients suffering from complex cardiovascular and respiratory conditions. The primary geographical markets for these innovations include the United States and select international regions, where these medical devices are incorporated into standard care protocols.The Foundry generates revenue through the commercialization of its proprietary medical devices, which are often acquired by larger healthcare companies. Transactions typically occur through business-to-business (B2B) partnerships with hospitals and healthcare institutions that purchase these devices for clinical use. For example, flagship products like the MitraClip® and the Symplicity® Catheter System are sold directly to healthcare providers, who integrate them into their treatment offerings. Revenue streams are structured around these sales, providing consistent income as hospitals adopt these technologies into their treatment regimens. Specific pricing structures for these devices are determined through negotiations between The Foundry and its commercial partners, ensuring alignment with market demands and healthcare reimbursement models.In June 2014, The Foundry, LLC raised USD 9.07 mn from various investors, which will be utilized to support the development of new medical devices aimed at enhancing treatment options for patients. The company is actively working on launching additional products designed for cardiovascular conditions, with a focus on expanding its footprint in international markets, particularly in Europe and Asia, by the end of 2016. This strategic direction aligns with their mission to address unmet clinical needs while leveraging recent funding to accelerate innovation and market presence.

## Funding rounds

- Series A, Jan 12, 2010, $3M — Domain Associates, Morgenthaler Ventures, Split Rock Partners

## Investors

- Domain Associates (https://capitalatlas.ai/funds/domain-associates) — Series A
- Morgenthaler Ventures (https://capitalatlas.ai/funds/morgenthaler-ventures) — Series A
- Split Rock Partners (https://capitalatlas.ai/funds/split-rock-partners) — Series A