ThermiAesthetics, a Southlake, Texas-based aesthetic technology company, secured $9m in financing.
Backers included Cypress Growth Capital, which will provide up to $4m in royalty-based growth capital ($2m at closing, with an additional $2m available upon meeting certain conditions) and Silicon Valley Bank, which will provide up to $5m ($3m at closing, with an additional $2m available upon meeting certain conditions).
The company intends to use the funds to support additional FDA applications, advance a pipeline of novel temperature controlled radio frequency products, and expand marketing efforts in building consumer awareness and sales force expansion.
Led by Paul Herchman, CEO, ThermiAesthetics provides the ThermiRF Temperature Controlled Radio Frequency Generator System, an FDA cleared aesthetic device which employs temperature controlled radio frequency and proprietary hand pieces designed for specific medical applications. These include a variety of disposal RF electrodes and cannulas and reusable non-invasive hand pieces.