Benvenue Medical, a developer of minimally invasive solutions for spine repair, has completed a $64 million financing round. The round is a combination of $40 million in Series E equity funding and $24 million in debt. The equity portion of the round was led by new investor InterWest Partners, with all existing major investors participating; Silicon Valley Bank was the sole debt provider. As part of the deal, InterWest's Gil Kliman will join Benvenue's Board of Directors.
The company, which previously raised $25 million of Series D funding at a $77 million valuation in 2012, will use the new funds to build its U.S. commercial presence, scale up manufacturing, increase administrative functions to support overall corporate growth and provide working capital to fund growth in operating activities.