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Print Edition StoriesTuesday, June 23, 2009
Now Boston based, Axis Three lands funding
By Mass High Tech staff
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Northern Irish surgical simulation software maker Axis Three Ltd., which launched its Boston-based headquarters earlier this month, has now closed its latest funding round, led by Crescent Capital, which was joined by return backers Clarendon Fund Managers and Siemens.
Although the amount of the round was not revealed, the company did say in a press release that the financing brings its total funds to $8 million. Axis Three intends to use the funding to grow its business worldwide.
Axis Three, which also announced earlier this month that it had named Steve Crummey as its new CEO, services the cosmetics industry. The company uses so-called tissue behavior simulation technology to allow surgeons to visualize the combination of a patient’s individual body traits, along with specific implants from manufacturers’ catalogues to portray surgical results prior to operating.
In referencing its market, Axis Three officials point to statistics from the American Society of Plastic Surgeons: More than 12 million plastic and cosmetic procedures were performed in the U.S. in 2008; by 2015, 55 million procedures are predicted to occur.
Founded in 2002, Axis Three has offices in Belfast, Ireland; Los Angeles; and Boynton Beach, Fla.
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