Celleration completes $30M financing, adds investors to board

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Celleration, a developer of an ultrasound wound healing device, has completed its series D financing by raising $30 million.

The Eden Prairie, Minn.-based company said it will use proceeds from the financing round to expand and accelerate its sales and marketing efforts for its MIST Therapy System.

Venture Investors co-led the round with Heron Capital and Clarian Health Ventures. Other participants in the round included existing investors, such as AAVIN Equity Partners, Affinity Ventures, Baird Venture Partners, CID Equity Capital, New Science Ventures, Prism Opportunity Fund, Seneca Health Partners, Triathlon Medical Ventures, Tyco Sigma Limited and Upper Lake Growth Capital, Celleration said.

New investors included Clarian Health Ventures, Heron Capital and HMA Capital. JMP Securities served as placement agent for the financing.

Additionally, Celleration has appointed George Arida of Venture Investors and Kevin Etzkorn of Heron Capital to its board of directors.