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Essenvia Raises $4M Pre-A Round Led By Wavemaker And Bgv To Help Medtech Teams Supercharge Regulatory Submissions

May 02, 2023•about 2 years ago

Amount Raised

$4 Million

Round Type

seed

Woodland HillsInformation Technology

Investors

Pasadena AngelsRebright PartnersFirst RaysWavemaker360Benhamou Global Ventures

Description

Essenvia, the pioneer in regulatory submission management for the MedTech industry, today announced it closed $4M in Pre Series A financing led by Benhamou Global Ventures and Wavemaker360 with participation from existing investors First Rays, Rebright partners, as well as Pasadena Angels. The company announced the appointment of Wavemaker360 partner Kwame Ulmer and BGV Partner Yashwanth Hemaraj to Essenvia's board of directors.

Company Information

Company

Essenvia

Location

21201 KITTRIDGE ST. #3301

Woodland Hills, California, United States

About

Essenvia is an online software to streamline pre and post market workflow for medical device companies by streamlining plans or activities to market, improving cross-functional collaboration and automating steps to manage initial and subsequent device modifications. It takes 2-5 years for new or improved medical devices to reach market and medical device companies manage a complex, specialized workflow prone with errors. Research shows regulatory submissions have grown in complexity and size, with a consistent 30% rejected at initial review and 64% sent back for additional information costing the industry billions of dollars each year. Our program is designed to help drastically reduce submission errors, streamline data and information gathering, save time, and help you submit a close to rejection proof as possible 510k submission.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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