
Piper Sandler Merchant Banking
800 Nicollet Mall, Minneapolis, MN, 55402, United States
Overview
Piper Jaffray Merchant Banking (PJMB) is a part of the asset management business of Piper Jaffray Companies (NYSE: PJC) and operates as the private equity arm of the firm. PJMB is supported by Piper Jaffray capital and that of distinguished non-affiliated limited partners. The group seeks investments in private, commercial stage businesses with strong growth prospects within the industry sectors covered by Piper Jaffray equity research and investment banking resources. Revenue is ranging from 275M to 500M.
- Total investments
- 21
- Lead investments
- 16
- Investments · 12mo
- 1
- Active investors
- 2
Investment portfolio
- CereVasc
Led · Series C · Jun 2026
CereVasc is a clinical-stage medical device company based in Massachusetts developing the eShunt System, an investigational, patented endovascularly implantable cerebrospinal fluid shunt and delivery components. The eShunt employs a percutaneous transvenous-transdural approach intended to enable a minimally invasive treatment for communicating hydrocephalus. The company is currently conducting the STRIDE pivotal trial, a prospective, multi-center, randomized, controlled study comparing the eShunt System to the standard ventriculo-peritoneal (VP) shunt to evaluate safety and effectiveness. Data from STRIDE are intended to support a future FDA Premarket Approval (PMA) submission. CereVasc describes the eShunt as investigational and not yet approved for commercial sale. The company plans to use recent Series C proceeds to complete the pivotal trial, advance regulatory work, scale operations, and prepare for U.S. commercialization.
- Scientia Vascular
Led · Equity · Sep 2024
Scientia Vascular develops microfabricated neurovascular devices and currently offers a comprehensive portfolio of guidewires while also producing differentiated microcatheters and aspiration catheters. The company uses microfabrication as its platform to design tools intended to more effectively address a wide array of cerebral vasculature disease states. Scientia recently launched the Plato 17 and Socrates 38 neurovascular catheters and plans to continue commercializing next-generation neurovascular tools. The business says these technologies aim to improve patient outcomes across varied neurovascular indications. Scientia announced it raised $14 million in growth funding to accelerate that commercialization and support the next stage of its growth. An investor in the round cited the company’s strong team, differentiated technology, large market opportunity and strong financial performance. Scientia Vascular leverages a proprietary microfabrication technology platform to design, develop, and manufacture interventional medical devices from its ISO 13485 facility in Salt Lake City, Utah. Since its commercial launch in 2018, the company has introduced a portfolio of differentiated neurovascular products, including Aristotle guidewires that have been adopted at leading comprehensive and primary stroke centers. The company recently received FDA approval for its Plato® 17 microcatheter, which uses its microfabrication technology to enhance trackability, control, and stability. Scientia plans to use new financing to accelerate sales, marketing, and new product development in its core neurovascular stroke market and in adjacent peripheral vascular and interventional oncology markets. The company is positioning itself as a growing commercial platform in neurovascular surgery with an expanding product pipeline. No revenue or user metrics were disclosed in the article.
- Integrity Orthopaedics
Led · Series B · Apr 2024
Integrity Orthopaedics develops a system for soft tissue repair, beginning with rotator cuff repair. Its FDA-cleared system (early 2023) uses patented micro-anchors, a continuous locking stitch, a patented anchor-installation instrument, and operative techniques to improve fixation and healing of torn tendons. The company was co-founded in 2020 by Thomas Westling, David Crompton, Dr. Patrick Connor, Dr. Howard Harris and Dr. Marc Labbe and initially launched with a small group of surgeons in a limited release. Based in Maple Plain, Minnesota, Integrity has begun a paced expansion of its field sales team to work with innovative orthopedists in select US markets. It plans to broaden the rollout as it ramps staffing, production volumes and physician education resources. The company raised $20.6M in Series B financing to support the US commercial launch of its initial product in the rotator cuff repair market.
- Graylog
Led · Equity · Oct 2023
Graylog provides SIEM, centralized log management, and API security solutions to elevate cybersecurity and IT operations. Its Graylog Security product offers advanced security analytics, AI-driven alerting, and threat hunting across cloud, hybrid, and on-premise environments and now represents over 50% of new customers. The company reported 67% new bookings growth year-to-date in Q3 2023 and cites deployments in more than 50,000 installations across 180 countries. In July 2023 Graylog expanded into API security by acquiring Resurface.io and has grown personnel and channel partnerships in Europe and Asia Pacific. Graylog is available on the AWS Marketplace with plans for additional listings in 2024. The company plans to use new funding to accelerate product development and differentiation, scale global go-to-market operations, and bridge to profitability. Graylog offers a centralized log management solution built for speed and scale, enabling real-time capture, storage, and analysis of terabytes of machine data. The platform is purpose-built for modern log analytics and emphasizes a superior analyst experience, cost-effective architecture, performance, scalability, and flexibility. Deployed in more than 50,000 installations worldwide, Graylog supports hundreds of thousands of users who rely on it for security, compliance, operational, and application development use cases. The company maintains a vibrant open source community and has recently expanded its European operations. Graylog has won industry recognition, including Editor’s Choice for SIEM from Cyber Defense Magazine and the 2021 Gold Stevie Award for DevOps Solutions. Financially, the company completed an $18 million growth equity round to fuel its growth plans and accelerate product and go-to-market investments for IT, DevOps, and security teams. Graylog provides services and support for the open source Graylog solution which stores, searches, and analyzes machine data collected from IT infrastructures and applications. The company positions its platform as an affordable alternative to expensive machine-data analysis platforms such as Splunk. Graylog said it will use the new financing to accelerate product development and expand its commercial capabilities. It plans to provide services and support to make it easier for organizations to deploy Graylog in production. The company aims to help organizations improve operational efficiency, security, and reduce the cost of IT. Graylog is based in Houston, Texas and has received new funding of $2.5M.
- Apkudo
Led · Series C · Feb 2023
Apkudo provides a platform for companies to manage, sell and test connected devices such as smartphones, tablets, laptops and wearables, handling grading, pricing and both in-lab and field testing. The platform uses AI to predict where devices are likely to be lost or stolen and to distinguish cosmetic issues (smudges, scratches, chips, cracks) to assess condition. Apkudo’s customers include FedEx, T-Mobile and Asurion, and its customer base grew 30% year-over-year from last February. The company says it was built capital-efficiently by solving for sophisticated buyers and aims to expand beyond mobility into compute. Apkudo has about 180 employees and disclosed that its annual recurring revenue grew around 141% year over year; no raw revenue figures were provided. Management plans to use the new capital to expand engineering teams, build out go-to-market functions and establish a physical presence outside the U.S. Apkudo provides a connected device platform that connects internal systems and ecosystem partners to automate supply chain processes across the full device lifecycle. Its platform surfaces condition and value data to drive inventory management, reverse logistics, repair, resale and recycling decisions. Apkudo has expanded beyond wireless mobility to serve computer and laptop brands and integrates with partners such as FedEx Supply Chain Robotics and ERI. The company says it has tripled the number of customers on its platform over the past two years. Apkudo positions its technology to strengthen circular supply chains and reduce e-waste by improving refurbishment and recycling outcomes. The company will use new funding to accelerate growth and advance development of its connected device platform. Apkudo provides a universal system for managing connected devices across the entire supply chain by securely bridging internal systems and external partners into a single platform. Its Hive Device Platform leverages AI-enhanced test software and high-volume robotics for diagnostics and cosmetic grading to drive supply chain efficiencies. Customers include smartphone manufacturers such as Samsung and LG, carriers including AT&T Mexico, T-Mobile and Verizon, and marketplaces like Amazon. The company plans to use new funding to accelerate global expansion of the Hive platform across emerging channels and verticals. Apkudo was founded in 2011 by Josh Matthews and Ben Leslie and is based in Baltimore, MD. It recently completed a Series B raise to support these growth efforts.