Strong sales of a new vascular access device and projections of profits by year's end drove a $15.5 million fourth round of funding for Cardiva Medical Inc.
The new capital, announced Monday, brings total investment in the five-year-old Mountain View, Calif., company to $47.5 million. Cardiva will use the funding to expand a direct sales force that now numbers 50 and to accelerate growth in support of its plans to go public later this year or in early 2009.
Leading the round was PTV Sciences of Austin, Texas, joined by Galen Partners of New York, Sycamore Ventures of Princeton, N.J., Harbinger VC Corp. of Santa Clara, Calif., W.I. Harper Group of San Francisco, Amkey Ventures of Los Altos, Calif., Lexli Investment of Santa Clara, Calif., and Taiwan's Eminent Venture Capital.
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