“The Success of Renovia’s Series B Funding Under Marc Beer “

Marc Beer is Renovia’s current (CEO) Chief Executive Officer. Renovia is a health startup that was established in 2016. In the two years under the helm of Marc Renovia, the 2-year old health startup has established itself in the healthcare sector.

 

Renovia’s CEO has been leveraging his expertise and experience in the health sector to sustain startups growth. Marc Beer is a renowned entrepreneur who has a particular interest in the healthcare industry. His constant participation in the healthcare industry has earned him the reputation of a serial healthcare entrepreneur. Beer is also behind the establishment of other successful startups such as ViaCell and LumeNXT in the healthcare sector. You can find details on Marc Beer from his LinkedIn account handle using this link; https://www.linkedin.com/in/marcbeer.

 

Renovia has its headquarters in Boston, United States. The firm was established with a primary goal of finding a permanent solution to the pelvic floor disorder. Women suffering from pelvic floor disorder have problems controlling their pelvic floor muscles. The inability to control the pelvic floor muscles results in the uncontrollable release of bowels by women suffering from this condition. A recent study shows that there are millions of women across the world suffering from pelvic floor disorder.

 

It is true that the sophistication and advancement of technology are making the tech industry competitive. Consequently, startups using technology to solve various problems across various industries are also becoming more competitive. Despite the advancement of tech, investors funding startups that are in their initial stages of investment realize that recouping their investment may take longer than anticipated. According to these investors, most of these startups are taking a lot of time before releasing viable products into the market while other firms are taking a long span before going public through (IPOs) Initial Public Offerings. A look at Renovia success shows that the firm is doing something different to succeed in an already competitive field.

 

Recently, Renovia released a gadget known as the Leva Device. The gadget has received FDA approval and is already being used by medical practitioners to treat the pelvic floor muscle disorder.

 

Renovia’s Series B Funding was a success. The health startup was able to raise $42 million. $10 million of the funds raised during the Series B funding was raised through venture debt. Renovia has made it public that the firm will be using funds from Series B funding to streamline its operations and in the creation of other products to supplement the Leva Device. Marc Beer also revealed that part of the funds raised during the Series B funding would go towards the creation of public awareness on the pelvic floor muscle disorder while another part of the fund goes to corporate development. Learn more: https://people.equilar.com/bio/marc-beer-aegerion-pharmaceuticals-/salary/78453