As an active member of the Golden Triangle Angel Network (“GTAN”) we have lead and/or participated in numerous Seed and Series A equity financing rounds to early stage startups located in the Toronto to Waterloo technology corridor.
However, raising equity may not be your optimal solution. Consider NorthSpring’s Venture Debt solution in the following circumstances:
- to delay or reduce the size of your next equity round to limit dilution
- to extend your runway and build your cash resources
- to accelerate growth with a lower cost of capital than straight equity
- to obtain greater flexibility than bank debt
Steve Farlow Chair of the Board of Synergy Disc Replacement Inc. NorthSpring made their equity investment in Synergy Disc at just the right time when we needed both funds and third party validation. We had regulatory approvals and some reference customers but little revenue and not the ability to raise funds from conventional sources. That has now changed and NorthSpring gave us an early boost and have continued to be supportive. They worked with us to set up some office and warehouse space in one of their facilities. Most importantly, NorthSpring has made the effort to understand our business. They have identified helpful market research and competitive information. Our communication is at the strategic level as opposed to this quarter’s operating performance. Synergy Disc Replacement Inc. is a global medical device company with offices in Cambridge, Ontario and in the USA. Synergy’s artificial cervical replacement disc has revolutionary geometry making it the only viable alternative to fusion in patients with pre-operative spine alignment issues. It is designed specifically to actively correct pre-operative deformity, prevent post-operative misalignment and provide optimal stability for multi-level procedures. Commercial sales have begun in select markets with positive results from key opinion leading surgeons. synergy-disc.com
