MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Reliant Technologies, Inc. announced today that it has closed a $15 million round of funding led by Delphi Ventures, a premier medical technology venture capital firm and a new investor in the company. Delphi joined with Three Arch Partners and Meritech Capital Partners, earlier venture partners, and other early round individual investors in completing this offering.
“We are very pleased to have led Reliant’s Series E financing,” said David Douglass, General Partner, Delphi Ventures. “Aesthetic laser medicine and surgery has experienced explosive growth over the past several years and Reliant Technologies has become one of the leading companies in this industry. We look forward to working with Reliant’s management team and investor group to continue to build the Company’s market leadership position.”
“We are very pleased to have completed this E round of funding. It is a significant endorsement of our Fraxel® technology and our pursuit of growth opportunities in the rapidly evolving field of aesthetic laser medicine and surgery,” said Eric Stang, 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 Delphi Ventures
Delphi Ventures is a venture capital firm that has focused on early stage investing in medical devices and biotechnology for two decades. With more than $850 million in committed capital, Delphi Ventures has funded over 150 companies. More than 90 of the firm’s portfolio companies have either completed an initial public offering or have been acquired by a leading healthcare corporation. Delphi Ventures is located in Menlo Park, CA and can be found at www.delphiventures.com.
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 the Fraxel Systems and Reliant Technologies
Reliant Technologies develops clinical solutions to repair and rejuvenate aging and environmentally damaged skin. Reliant is dedicated to providing the most advanced research, engineering and products to the global aesthetic marketplace. The company pioneered the development of fractional laser resurfacing which relies on novel high speed scanning systems and the Intelligent Optical Tracking® system to produce safe and effective results with minimal recovery time. The Fraxel family of products has quickly become the industry standard for aesthetic laser skin treatment. Because of their gentle, non-invasive approach to skin resurfacing, Fraxel lasers are used primarily by aesthetic physicians to treat periorbital wrinkles, pigmented lesions, acne scars and surgical scars. Fraxel lasers have received multiple FDA clearances and have been found safe and effective in treating all skin types and all areas of the face and body. Reliant is headquartered in Mountain View, California. For more information visit www.fraxel.com.
Contact: Reliant Technologies, Inc. Tom Scannell, Chief Financial Officer, 650-605-2346 tscannell@reliant-tech.com or GCI Group Lindsay Caulfield, 310-526-5591 lcaulfield@gcigroup.com
Source: Reliant Technologies, Inc.
