AcuityMD Secures $80 Million to Expand AI for MedTech Sales
73AcuityMD, a Boston-based tech company focused on AI tools for medical device sales teams, has just raised $80 million in a Series C funding round. With this new funding, the company’s valuation has climbed to nearly $1 billion. Founded in 2019 by Mike Monovoukas, AcuityMD’s platform helps sales reps make sense of scattered healthcare data to find the best opportunities and target the right doctors and hospitals.
Transforming Medical Device Sales with Data
The medical device market is huge and growing fast. Experts estimate it will jump from about $623 billion in 2026 to over $1 trillion by 2035. Selling devices in this space is tough. Reps need detailed info about surgeons, hospitals, and contracts—data that’s often spread across many sources. Hospital mergers, new regulations, and fresh product approvals add to the challenge, making it harder for sales teams to keep up.
Many of the critical insights for sales teams are buried in government records, FDA filings, and Medicare claims. Traditionally, reps relied on spreadsheets, CRM software designed for other industries, and personal networks. But these tools often fall short for the level of detailed, actionable intelligence needed to succeed in today’s complex environment.
Investors and Growth Milestones
AcuityMD’s recent funding round was led by StepStone Group, an existing investor. Other participants included Benchmark, Redpoint Ventures, ICONIQ, and Atreides Management. So far, the company has raised more than $160 million in total. This influx of capital is fueling faster growth and innovation.
The company’s achievements haven’t gone unnoticed. It was named to Forbes’ 2025 “Next Billion-Dollar Startups” list, highlighting it as one of 25 U.S. venture-backed companies most likely to reach a $1 billion valuation. This recognition underscores the increasing importance of AI-driven tools in the healthcare sales space.
Why AI is a Game Changer for MedTech Sales
The medical device industry is facing increased pressure. The FDA has approved over 1,200 AI-enabled medical devices, and new approvals are constantly coming. This means more options for doctors and more competition for sales teams. Hospitals are also merging into larger systems with centralized purchasing, which complicates identifying the right contacts and customizing pitches.
While AI has gained traction in clinical areas like radiology and diagnostics, less attention has been paid to commercial applications. Most device sales reps still rely on outdated methods—manual spreadsheets, generic CRM tools, and personal networks. Valuable data such as early adopter surgeons, patient referral patterns, and contract opportunities are hidden in government databases and regulatory filings.
AcuityMD aims to change that. Its platform consolidates and analyzes healthcare data to give sales teams a clear view of the market landscape. This enables reps to target the right physicians, identify new opportunities, and ultimately close more deals. As AI technology advances, the company believes its platform will become even more valuable for the entire MedTech organization, beyond just sales.
With its latest funding, AcuityMD plans to expand its platform’s capabilities and grow its team. The goal is to make it easier for medical device companies to navigate the complex healthcare environment and succeed in a competitive market. The company’s focus remains on scaling rapidly while investing in data quality and user experience, ensuring its tools stay ahead of the curve.
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