Vapotherm, an Exeter, New Hampshire-based manufacturer of advanced respiratory care devices, closed a $29m financing round.
The round was led by the 3×5 Special Opportunity Fund L.P., with participation from new investor Morgenthaler Venture Partners L.P., and existing investors GE Asset Management, Kaiser Permanente, Integral Capital Partners, QuestMark Partners and Cross Creek Capital. In conjunction with the funding, Tony Arnerich, General Partner of the 3×5 Special Opportunity Fund, and Jason Lettmann, Principal of Morgenthaler Venture Partners, both joined Vapotherm’s Board of Directors.
The company intends to use the proceeds from the financing to fund its growth plans.
Led by Bill Niland, Founder, and Joe Army, President and CEO, Vapotherm develops noninvasive technologies for respiratory support of patients with chronic or acute breathing disorders.
Respiratory technology market veteran James “Jim” Liken, a board member since April 2010, will serve as Chairman of the Board of Directors.