MOUNTAIN VIEW, Calif., March 13 /PRNewswire/ -- Reliant Technologies, Inc. announced today that it has closed a $22-million round of funding led by Meritech Capital Partners, a premier late-stage venture capital firm and a new investor in the company. Meritech joined with Three Arch Partners, an earlier venture partner, and other early round individual investors in completing this oversubscribed offering, which was priced as a significant up-round from prior offerings. Mr. Robert Ward of Meritech Capital Partners will join the Reliant Board of Directors.
"We are very pleased to have completed this D round of funding. It is a significant endorsement of our Fraxel(R) laser technology and our pursuit of growth opportunities in the rapidly evolving field of aesthetic laser medicine and surgery," said Len DeBenedictis, president and chief executive officer of Reliant Technologies. "These additional funds will enable us to aggressively build our marketing, clinical education and distribution infrastructure worldwide, support our ongoing technology developments and broaden Reliant's role as a market leader."
About Meritech Capital Partners
Meritech Capital Partners is a leading provider of late-stage venture capital to the most promising private technology companies. With over $2.2 billion under management, Meritech seeks to lead investments in the portfolio companies of leading early-stage venture capital firms and looks for companies with proven and differentiated technology, rapidly-growing revenue and seasoned management teams. As one of the most active late-stage investors, Meritech provides guidance on a number of issues that rapidly growing companies typically face, including management incentive plans, IPO market timing and positioning, adviser selection, and post-IPO ownership transition. Meritech is located in Palo Alto, CA and can be found at www.meritechcapital.com.
About Three Arch Partners
Three Arch Partners was formed in 1993 to provide young companies with access to not only capital but relevant clinical and business resources as well. The firm was established and is positioned to integrate the traditional roles of venture capitalist and entrepreneur. Three Arch Partners invests exclusively in healthcare, considering opportunities in biotechnology, healthcare services, medical devices, and diagnostics. Three Arch Partners is located in Portola Valley, CA and can be found at www.threearchpartners.com.
About Reliant Technologies, Inc.
Reliant Technologies is a leading manufacturer of medical laser technology for aesthetic applications. The Company's laser device is used primarily by aesthetic physicians to treat periorbital wrinkles, pigmented lesions and photo-damaged skin of the face and body. Reliant pioneered the development of the Fraxel Laser, which relies on new-generation fractional resurfacing to produce safe and effective results with minimal recovery time. Reliant employs more than 100 people and is headquartered in Mountain View, CA. For more information about the Company please visit www.reliant-tech.com and for physician referrals, visit www.fraxel.com.
Contact: Tom Scannell Chief Financial Officer 650-641-5847 tscannell@reliant-tech.com
Reliant Technologies Inc.CONTACT: Tom Scannell, Chief Financial Officer of Reliant TechnologiesInc., +1-650-641-5847, or tscannell@reliant-tech.com
