Atraverse Medical has raised $29.4 million to fund its minimally invasive system for accessing the inner chambers of the heart, with plans to expand its commercial reach and set up new products in its R&D pipeline.
Founded by the same group that helped launch the pulsed field ablation company Farapulse—prior to its 2021 acquisition by Boston Scientific, and the system’s booming commercial success over the past year—Atraverse aims to simplify how clinicians reach the heart’s left-side atrium and ventricle in a procedure.
Typically, that involves a first step of threading a catheter through the veins into the right side of the cardiac muscle, and then punching a small hole in the tissue wall separating the two halves, in what’s known as the transseptal approach.
Atraverse previously obtained an FDA clearance for its Hotwire system in May 2024, which includes a guidewire capable of delivering radiofrequency energy at its tip to create the puncture.
This device also acts as a rail for other catheter-based treatment hardware, such as ablation catheters, and allows clinicians to access the left side of the heart without needing to swap in and out different equipment during a procedure.
That agency greenlight was powered by a seed round of $12.5 million; Atraverse said its latest $29.4 million haul adds on to that fundraising.
“This financing is a major milestone for Atraverse and underscores our evolution from a startup company to an emerging growth corporation,” President and CEO John Slump said in a statement.
The California-based company’s backers include angel investors, family offices and medtech entrepreneurs, added Slump—who helped co-found Farapulse back when it went by the name Iowa Approach, alongside Atraverse’s Chief Translational Science Officer Steven Mickelsen and Chief Operations Officer Eric Sauter.
Atraverse has now raised about $40 million since it launched in mid-2022, and the Hotwire system has since been used in nearly 1,000 procedures, according to the company.