Participated · Equity · Mar 2018

Imanis Data offers an intelligent software platform that uses machine learning to simplify data management for modern platforms such as Cassandra, MongoDB, Couchbase, Hive and HBase. Its product enables online migration and replication to the cloud, protection against ransomware, accidental deletion and corruption, secure copying of production data for testing and development, and long-term data archiving for business continuity. The company serves leading Fortune 500 customers across retail, financial services and travel industries. Imanis Data plans to leverage new capital and senior executive talent to capitalize on strong market demand and to strengthen relationships with major cloud providers. The company is based in San Jose, CA. Talena is a Milpitas, California-based provider of a Big Data availability management platform. It offers a patented approach to data management that automates manual processes and provides rapid access to mission-critical data for engineering, DevOps, and data science teams. The platform is designed to optimize test/dev management, backup, recovery, and archive functions. The company is led by founder and CEO Nitin Donde. Talena secured $12M in financing and plans to use the funds to expand product development, go-to-market, and customer support efforts. As part of the financing, Canaan General Partner Deepak Kamra and ONSET Partner Shomit Ghose joined Talena’s board of directors.

Participated · Series D · Jul 2017

Nok Nok Labs delivers client and server authentication software (the Nok Nok S3 Authentication Suite) that leverages built-in device capabilities such as fingerprint sensors, cameras and secure silicon to provide FIDO-certified, strong authentication for mobile and web applications. The company supports a wide range of authentication technologies from a unified platform and lists customers and partners including AliPay, Lenovo, NTT DOCOMO, PayPal and Samsung. Nok Nok positions itself as a leader in commercial FIDO deployments and emphasizes user-friendly, standards-based security and privacy. With the new funding, NNL plans to accelerate deployment of its strong authentication solutions across private and public markets, particularly government, public safety and first responder agencies. The company also intends to expand its channel infrastructure to support growing partner demand. Financially, the company announced a Series D financing in which existing investors participated. Nok Nok Labs provides client and server software that leverages built-in device security (fingerprint sensors, cameras, TPMs) to deliver strong, user-friendly authentication to applications. Launched in 2011 by Ramesh Kesanupalli, the company is a founding member of the FIDO Alliance and lists customers and partners including NTT DOCOMO, PayPal, AliPay, Samsung and Lenovo. Its core product enables applications to use existing device capabilities for authentication rather than relying solely on passwords. The company completed the second and final closing of $8.0M in its Series C, bringing total Series C proceeds to $16.25M. Nok Nok intends to use the funds to expand sales, support and channel infrastructure, pursue global opportunities mainly in the Asia Pacific region, and continue technology innovation around and beyond the FIDO specifications. Nok Nok Labs delivers client and server software that leverages built-in device security such as fingerprint sensors, cameras and Trusted Platform Modules (TPMs) to provide user-friendly authentication to applications. The company was launched in 2011 and is led by president and CEO Phillip Dunkelberger. Nok Nok announced support for the FIDO 1.0 specifications with a new version of its NNL S3 Authentication Suite, offering standards-based authentication for customers and partners. The firm intends to use the Series C proceeds to expand the business in the Asia Pacific region, add support capabilities, and partner with key regional strategic investors. Financially, the company reported an $8.25M Series C and has now raised $40M in total capital. Nok Nok Labs develops client and server authentication software that uses existing device security capabilities—built-in fingerprint sensors, cameras and Trusted Platform Modules—to provide authentication to applications. Its NNL™ S3 authentication suite is a centralized platform that enables use of a broad range of FIDO-Ready devices. The company is led by President and CEO Phillip Dunkelberger and founder Ramesh Kesanupalli. Nok Nok plans to use new funding to accelerate development and broaden the reach of the NNL S3 suite, expand sales, business development and marketing, and continue signing partnerships. The company has raised a total of $31.5M to date. Nok Nok Labs develops a Unified Authentication Infrastructure that leverages fingerprint sensors, webcams, Trusted Platform Module (TPM) chips, and voice biometrics to enable organizations to authenticate users across devices and locations. The platform integrates existing hardware and biometric capabilities to allow organizations to authenticate to anyone, anywhere and to any device. The company was founded in November 2011 and is led by CEO Phil Dunkelberger. Nok Nok is based in Palo Alto, California. In December 2013 the company raised $15m in funding to support its efforts. Its advisory board includes security and industry veterans such as Steve Babbage, Bob Lentz, Dr. Larry Ponemon, Nils Puhlmann, Jim Reavis, and Al Sisto.

Participated · Equity · Jun 2017

Vertos Medical develops minimally invasive treatments for lumbar spinal stenosis, centered on its mild Procedure. The company offers a procedure that targets chronic low back pain and has treated more than 70,000 patients in the United States. Demand for the mild Procedure is increasing significantly. Vertos plans to use new capital to expand patient access and to support research and development aimed at advancing care for chronic low back pain. The financing strengthens its commercial expansion efforts and capacity to scale adoption. Vertos positions itself to make a meaningful impact on mobility and quality of life for older adults with LSS. Vertos Medical Inc. is a medical device company committed to developing innovative, minimally invasive treatments for lumbar spinal stenosis (LSS). Its proprietary mild® technology is described as a safe, minimally invasive outpatient procedure that restores space in the spinal canal through an incision smaller than the size of a baby aspirin. The company emphasizes outpatient, low‑invasiveness approaches for LSS treatment. The announcement notes a significant equity investment from Partner Ventures. No financing size, operating metrics, or additional financial details were provided in the article. The company website is referenced for more information. Vertos Medical, based in Aliso Viejo, California, develops innovative, minimally invasive treatments for lumbar spinal stenosis (LSS). Its core product is the mild® procedure, an outpatient, fluoroscopically guided therapeutic LSS treatment that requires no general anesthesia, no implants, and no stitches. The mild procedure restores space in the spinal canal by removing hypertrophic ligamentum flavum through a 5.1-mm treatment portal using specialized devices. The company intends to use the financing to expand commercialization of mild® and to support physician training and education to broaden patient access. The company is led by President and CEO Eric Wichems. Vertos Medical recently closed a financing to support these commercial and training initiatives. Vertos Medical, based in Aliso Viejo, CA, develops and commercializes mild, a minimally invasive outpatient procedure for lumbar spinal stenosis (LSS). mild is performed through an incision the size of a baby aspirin, requires no general anesthesia, no implants and no stitches, and its efficacy and safety have been demonstrated in 11 clinical studies and more than 16 peer‑reviewed articles. Since receiving FDA 510(k) clearance in 2008, more than 15,000 people in the U.S. have been treated with mild, and the procedure has a reported 81% positive‑response rate. Vertos positions mild as a low‑cost, durable alternative to other LSS treatments, aiming to reduce complications and recovery time compared with open back surgery. The company announced it has closed nearly $23 million in a Series E financing led by Pitango Venture Capital to support commercial growth. Proceeds will be used for U.S. commercial expansion and to launch mild in European markets. Vertos Medical develops the mild procedure, a proprietary minimally invasive treatment for lumbar spinal stenosis (LSS). The mild procedure targets a large underserved group: patients who no longer respond to medical management but are not yet candidates for traditional invasive surgeries. The company is Aliso Viejo, CA-based and led by president and chief executive officer James M. Corbett. Vertos will use the Series D proceeds to continue U.S. commercialization of its mild technology. Company leadership described the financing as an important milestone and recognition of the market potential of the mild procedure.

Participated · Series G · Jun 2017

Neuronetics develops non-invasive therapies for psychiatric and neurological disorders using MRI-strength magnetic field pulses. The company is considered a leader in transcranial magnetic stimulation (TMS) and has developed NeuroStar® Advanced Therapy, a noninvasive neuromodulation treatment for adult patients with Major Depressive Disorder (MDD). NeuroStar Advanced Therapy has delivered 1.4 million treatments to more than 50,000 patients. Led by President and CEO Chris Thatcher, Neuronetics is based in Malvern, Pa. The company closed a $15M Series G equity round and intends to use the funds to continue to expand operations. The funding supports its commercial and operational growth around its NeuroStar therapy. Neuronetics develops non-invasive transcranial magnetic stimulation (TMS) therapies centered on its NeuroStar TMS Therapy System. The NeuroStar system is indicated for treatment of Major Depressive Disorder in adult patients who have failed to receive satisfactory improvement from prior antidepressant medication in the current episode. It is a non-systemic, non-invasive neuromodulation therapy that stimulates nerve cells by delivering highly focused MRI-strength magnetic field pulses, activating cortical and deep brain structures involved in mood regulation. Treatments are prescription-only and are typically administered daily for 4–6 weeks. The company completed a $34M Series F financing and plans to use the proceeds to expand its commercial resources. Neuronetics also intends to fund a new registration study to investigate NeuroStar TMS Therapy for Major Depressive Disorder in adolescents aged 12 to 21. Neuronetics develops the NeuroStar transcranial magnetic stimulation (TMS) system for the treatment of major depression. The NeuroStar system was cleared by the U.S. FDA in October 2008 and delivers focused MRI‑strength magnetic field pulses to stimulate nerve cells in a brain region linked to depression. The therapy is non‑invasive, does not circulate in the bloodstream or involve surgery, and is typically administered daily for four to six weeks. The treatment is available at more than 300 treatment centers in the United States. Neuronetics completed a $30M Series E financing to expand the reach of NeuroStar for patients who did not get relief from existing therapies. The company is led by President and CEO Bruce J. Shook.

Participated · Series D · Nov 2015

BAROnova is a clinical-stage medical device company based in San Carlos and Goleta, California, led by CEO David Thrower. The company developed the TransPyloric Shuttle (TPS), a non-surgical, non-pharmacologic device intended to slow gastric emptying so patients feel fuller longer. The TPS is inserted through a brief endoscopic procedure and is currently being evaluated in an ongoing FDA pivotal clinical study. That study is designed to demonstrate the device's relative efficacy and safety when used with modest diet and lifestyle support versus diet and lifestyle support alone. Financially, BAROnova recently completed a Series D equity round and has obtained additional financing to support continued growth and strategic initiatives. BAROnova develops the TransPyloric Shuttle (TPS), an endoscopically delivered, minimally invasive implanted device intended for weight loss. The TPS is inserted through the mouth in an endoscopic procedure and is designed to make the stomach fill faster, keep patients full longer and potentially delay gastric emptying. The device was invented by BAROnova board member Daniel Burnett, MD, President and CEO of TheraNova, LLC. The FDA granted BAROnova unconditional approval to initiate a U.S. pivotal clinical investigation (ENDObesity II) to support a Premarket Approval application, and the company expects to enroll the first subject by the end of the year. Financially, BAROnova raised $36.5 million in a Series D to fund the U.S. clinical study, its largest financing since a $27.3 million raise in 2013, according to CEO Hugh Narciso. Investors cited the device's differentiated technology and potential to offer a less invasive alternative to surgical weight-loss options. BAROnova is a clinical-stage medtech company focused on endoscopically-delivered treatments for obesity. Its lead product is the TransPyloric Shuttle (TPS) weight-loss device, a mechanical implant designed to slow digestion and create a sensation of fullness. The TPS is placed into the stomach endoscopically through the mouth in an approximately 10-minute outpatient procedure and can be removed as needed. The company plans to use new capital to run a pivotal study of TPS aimed at obtaining U.S. and European regulatory approvals. BAROnova is led by Founder, President and CEO Hugh Narciso. The company is based in Goleta, California. BAROnova develops medical devices intended to treat obesity. The company is based in Goleta. According to the PricewaterhouseCoopers/NVCA MoneyTree report it raised $5.2M in new funding. The funding has not been reported elsewhere and no deal terms or instrument details have been announced. BAROnova has previously raised capital from Allergan, Arboretum Ventures, DeNovo Ventures, Highland Capital, Interwest Partners, Latterell Venture Partners, Morgenthaler Ventures, ONSET Ventures, and SV Life Sciences. It is unclear which, if any, of those firms participated in this recent $5.2M round. BAROnova develops the TransPyloric Shuttle, an endoscopically placed device positioned at the pylorus intended to extend satiety and reduce hunger impulses. The shuttle is inserted at the opening of the small intestine at the bottom of the stomach. The company presents the approach as a safer alternative to gastric bypass and other surgical weight-loss procedures. BAROnova plans to use new funding to continue development of the TransPyloric Shuttle. The company is based in Goleta, California. Prior investors from a 2006 financing include Highland Capital Partners, Onset Ventures and Arboretum Ventures.