Voluntis raises €20.75m for series-D

Ellie Pullen
30 April 2014

Tweet
Facebook
LinkedIn
Google plus
Send to

French medical software developer Voluntis has secured €20.75m for its series-D funding round from a consortium of investors led by BPI France and Innovation Capital.

Vesalius Biocapital, Qualcomm Ventures and existing investors CapDecisif Management, CM-CIC Capital Innovation and French insurer Sham took part in the round.

BPI invested €10m in the round via its Large Venture fund, which was established in November last year with €500m in capital.

The deal also marks the first investment made through Innovation Capital's new Innovative Healthcare Services fund, or Services Innovants Santé et Autonomie, which held its first close on €40m in February.

Voluntis will use the fresh capital to bolster its US operations and further develop its diabetes management software solution, Voluntis Insulin Therapy Manager (VITM). The company will also step up development in new programmes for other chronic diseases.

Previous funding
Voluntis first received funding in September 2006, securing €500,000 from CapDecisif and a further €200,000 from a syndicate of business angels.

In January 2007, CM-CIC, Sudinnova and Sham injected €1.3m into the business.

This was followed by a €5.1m funding round in December 2011 with the funds raised from CapDecisif, Sham, Sudinnova and CM-CIC.

Company
Founded in 2001, Voluntis is headquartered in Paris with an additional office in Boston, US. The company develops "companion software", designed to accompany a specific medication or medical device.

The software is designed to provide services such as monitoring side effects and recommending dosage. The company is currently developing companion software for diabetes, anti-coagulation treatment and haemophilia.

People
Pierre Leurent is the founder and CEO of Voluntis. BPI Large Venture fund director Maïlys Ferrère, investment director Litzie Maarek and associate Jean Bertin worked on the deal. Florian Reinaud is a partner at Innovation Capital; Alain Parthoens is a managing partner at Vesalius; Emilie Lidome is an investment director at CM-CIC; Miles Kirby is the senior director of Qualcomm; and Bervin Bouani is portfolio manager at Sham.

Advisers
Company – Silver Ocean Ventures, John Tchelingerian (Corporate finance).