Virtually everyone who’s ever had a blood test has experienced this nightmare at least once: Prick, no vein, prick, still no vein, prick … those are all the extra needle sticks that happen when a nurse or other medical professional can’t find a vein to draw blood or insert an IV. The desire to prevent those painful jabs inspired a company, AccuVein, which started up in Cold Spring Harbor, NY, in 2007 and invented a tool that literally illuminates veins, so the caregivers who need to find them can do so on the first try. On July 28, AccuVein raised $22 million in a Series B funding round that was led by MVM Life Sciences Partners and Bessemer Venture Partners. The company had previously raised an undisclosed amount from private individuals, says AccuVein’s founder and CEO, Ron Goldman. That was enough to build the product and get it into 750 hospitals in the U.S. The new capital, says Goldman, “will be used primarily to build out the sales team and acquire distribution partners overseas.”
