Carlsmed
AI-enabled personalized spine surgery platform that uses patient CT/MRI scans to design and 3D-print custom titanium fusion implants (aprevo®), reducing surgical complexity and improving outcomes.
- CEO / Founder
- Mike Cordonnier
- Team Size
- 51-200
- Stage
- Public
- Total Funding
- $143M
- Latest Round
- IPO
- Key Investors
- Cove Fund II; B Capital Group
Technology & Products
Key Products
aprevo® Technology Platform; aprevo® Lumbar Fusion Devices; aprevo® Cervical Fusion Devices; aprevo® Bi-lateral Posterior Lumbar Devices
Technological Advantage
Proprietary AI planning software and patient-specific implant design, protected by multiple patents (e.g., US11112770B2). The integration of digital planning with additive manufacturing creates a defensible workflow that is difficult to replicate, as it requires both software expertise and AM manufacturing capabilities.
Differentiation
Value Proposition
Reduces surgical time and complications by providing patient-specific 3D-printed titanium implants and AI-driven surgical plans, improving fusion rates and reducing revision surgeries, while enabling faster recovery and lower overall cost of care.
How They Differentiate
Unlike competitors offering standard implant lines, Carlsmed provides a fully personalized solution with AI-driven surgical planning and patient-specific 3D-printed titanium implants, reducing reliance on standard sizes and improving anatomical fit. This contrasts with Alphatec and Globus Medical, which primarily offer pre-sized implants with limited personalization.
Market & Competition
Target Customers
Spine surgeons and healthcare providers
Industry Verticals
Medical Devices; Spine Surgery
Competitors
Alphatec Spine; Globus Medical (NuVasive); Medtronic Spine
Growth & Milestones
Growth Metrics
Revenue grew 86% YoY to $50.5M in FY2025; Q1 2026 revenue $16.1M (+58% YoY); Q2 2026 revenue $18.9M.
Major Milestones
2020: Raised $2.5M seed round; 2021: Raised $10M Series A; 2022: Raised $30M Series B led by B Capital Group; 2025: IPO raised $100.5M on Nasdaq (CARL); 2026: Launched aprevo cervical fusion platform; merged with Precisive Surgical
Notable Customers
Scripps Memorial Hospital La Jolla; Hoag Orthopedic Institute; UC San Diego Health