Bright Uro announced the second closing of its oversubscribed Series A funding round, securing a total of $32 million.
The company initially announced nearly a year ago that it brought in $23 million in the Series A round. It reported a nearly 40% oversubscribed second closing, with Laborie Medical Technologies again leading the round. Laborie provides urology diagnostic and therapeutic solutions and remains the lead investor.
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University of California (UC Investments), Freepoint Capital Group and Laurelin Investors also joined the round.
Irvine, California-based Bright Uro plans to use funds to support the anticipated 2025 launch of its Glean urodynamics system. Additional funds may go toward manufacturing capacity expansion and R&D activities to support expanding the future pipeline.
Glean, a comprehensive system, enables wireless, catheter-free urodynamics. Bright Uro aims to provide clinicians with more accurate data and actionable insights to aid in clinical decision-making. Glean features an insertion tool, a Bluetooth-enabled pressure sensor in a flexible silicone tube, a software app for use by clinicians and patients and a uroflowmeter to sense volume and flow.
“The overwhelming interest from a diverse range of sophisticated investors is a true testament to the compelling mission we are on,” said Derek Herrera, founder and CEO of Bright Uro. “With this funding, we are well resourced for the launch of Glean in 2025, while also continuing to resource our pipeline of innovation. We have never been more confident in the expected impact Glean will have for clinicians and millions of patients suffering from urinary issues.”
