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Venture Capital
morgenthaler.com

Investments

502

Portfolio Exits

100

About Morgenthaler Ventures

Morgenthaler is a leading U.S. venture-capital firm with offices in Menlo Park, California; Boston, Massachusetts; Princeton, New Jersey; Boulder, Colorado and Cleveland, Ohio.

Headquarters Location

2710 Sand Hill Road 100

Menlo Park, California, 94025,

United States

(650) 388-7600

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Latest Morgenthaler Ventures News

Relievant Medsystems Secures $50 Million To Develop Treatments For Chronic Vertebrogenic Low Back Pain

Apr 30, 2023

Relievant Medsystems – a company dedicated to transforming the diagnosis and treatment of vertebrogenic pain, a type of chronic low back pain (CLBP) – announced that it has completed the closing of its $50 million Series G financing. The funding was led by new investor Ally Bridge Group with participation from existing investors Endeavour Vision, Vensana Capital, Lightstone Ventures, New Enterprise Associates, Canaan Partners, and Morgenthaler Ventures. There are 30 million people in the U.S. with chronic low back pain and 1 in 6 are likely to have vertebrogenic pain, which is a distinct type of chronic low back pain caused by damage to vertebral endplates, the interface between the disc and the vertebral body. The patients who typically have pain in the middle of their low back, which worsens when they bend over, sit for long periods of time, or when they are active. A physician is able to confirm a patient’s pain is vertebrogenic by observing Modic changes, a biomarker seen on standard MRI that indicates inflammation at the vertebral endplate. Relievant Medsystems’ minimally invasive Intracept Procedure is known as the only FDA-cleared treatment for chronic vertebrogenic low back pain, using targeted radiofrequency energy for stopping the basivertebral nerve (BVN) from transmitting pain signals to the brain. And the procedure is typically performed in an outpatient surgery center and takes about 1 hour. And based on existing data, patients usually experience minimal post-procedure pain and generally quick recovery times. Patients often feel pain relief within 2 weeks of being treated with the Intracept Procedure. KEY QUOTES: “This substantial additional funding allows us to further accelerate our efforts to transform the diagnosis and treatment of vertebrogenic pain. We are thrilled to see strong support from Ally Bridge Group and existing investors in this oversubscribed round as we expand Intracept adoption and make this treatment available to more patients and physicians.” — Tyler Binney, President and CEO of Relievant Medsystems “We are pleased to join the investor syndicate supporting Relievant. We have been impressed by the company’s novel and clinically proven technology and accelerating commercial traction and adoption. We are excited to partner with the company on its journey to provide relief for the millions of patients in the U.S. suffering from chronic low back pain indicated for Relievant’s Intracept Procedure.” — Kevin Reilly, a Managing Director at Ally Bridge Group Trending on Pulse 2.0

Morgenthaler Ventures Investments

502 Investments

Morgenthaler Ventures has made 502 investments. Their latest investment was in Relievant Medsystems as part of their Series G - II on April 4, 2023.

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Morgenthaler Ventures Investments Activity

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Morgenthaler Ventures Portfolio Exits

100 Portfolio Exits

Morgenthaler Ventures has 100 portfolio exits. Their latest portfolio exit was Relievant Medsystems on September 19, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

9/19/2023

Acquired

$99M

6

1/3/2023

Acquired

$99M

4

11/16/2022

Acquired

$99M

14

6/24/2021

IPO

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$99M

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10

11/25/2020

Acquired

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$99M

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10

Date

9/19/2023

1/3/2023

11/16/2022

6/24/2021

11/25/2020

Exit

Acquired

Acquired

Acquired

IPO

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

6

4

14

10

10

Morgenthaler Ventures Acquisitions

12 Acquisitions

Morgenthaler Ventures acquired 12 companies. Their latest acquisition was Arisdyne Systems on June 18, 2008.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

6/18/2008

Debt

$99M

$10.85M

Acquired

7/9/2007

$99M

Acquired

9/19/2006

Debt

$99M

$7.5M

Acquired

7/15/2006

Series D

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$99M

$99M

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0

5/19/2006

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$99M

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0

Date

6/18/2008

7/9/2007

9/19/2006

7/15/2006

5/19/2006

Investment Stage

Debt

Debt

Series D

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$10.85M

$7.5M

$99M

Note

Acquired

Acquired

Acquired

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Sources

0

0

Morgenthaler Ventures Team

10 Team Members

Morgenthaler Ventures has 10 team members, including current Founding Partner, David Morgenthaler.

Name

Work History

Title

Status

David Morgenthaler

Founding Partner

Current

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Name

David Morgenthaler

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Work History

Title

Founding Partner

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Status

Current

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