Checkpoint Surgical, Inc., a privately held U.S. based medical device company with proprietary neurostimulation technology for nerve protection and repair, announced today the completion of an $8.8 million preferred series capital raise led by Mutual Capital Partners, a Cleveland based venture fund investing in rapidly growing, post-revenue technology businesses. Existing backers, First Analysis, a growth equity firm based in Chicago, the JumpStart NEXT Fund, a Cleveland based venture fund, and several individual investors also participated in the round.

First Analysis has witnessed firsthand Checkpoint’s impressive growth and watched as Checkpoint’s core products have moved from acceptance to adoption throughout the surgical community the past several years. We look forward to our continued partnership with Checkpoint and now welcome Mutual Capital Partners to the team,” said Tracy Marshbanks, Managing Director of First Analysis.

Wayne Wallace of Mutual Capital Partners added, “We spoke with many of Checkpoint’s surgeon-users and distributors and were impressed with the enthusiasm expressed by key opinion leaders at world renowned medical institutions using Checkpoint’s technology. Checkpoint has the core technology and team needed to build a significant business in a large high-growth market. We look forward to helping the team build on prior success in the nerve protection and repair space.”

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