SI-BONE Closes $20MM Round of Growth Financing
SI-BONE closed a US $20MM round of growth capital financing, led by new investor Arboretum Ventures with participation from all of SI-BONE's existing major investors.
Proceeds will support expansion of U.S. sales, following recent decisions to cover MIS SI joint fusion by Blue Cross Blue Shield of Michigan, Geisinger Health Plan in Pennsylvania and First Coast Service Options in Florida. Additional proceeds will support R&D to develop new products to treat the SI joint.
SI-BONE's last funding announcement occurred in 4Q15, with the closing of a $39.2MM credit facility .
Sources: SI-BONE, Inc.; ORTHOWORLD Inc.