Brightstone Venture Capital

Brightstone Venture Capital is a Minneapolis-based venture capital firm that concentrates on early-stage technology and life sciences companies in the United States. With a multi-decade track record of partnering with entrepreneurs to solve meaningful problems in large and growing markets, Brightstone has supported a range of technology and health-focused ventures, including BiteSquad, HomeSpotter, Definity Health, Verata AI, GRAVIE, Codestream, FlipGrid, AppTec Labs, HealthFitness, SpineTech and XioTech. The firm backs opportunities across B2B and B2C models in sectors such as software, pharmaceuticals and biotechnology, healthcare, information technology, artificial intelligence, virtual and augmented reality, cloud, cybersecurity, nanotechnology, and related tech-enabled industries, aiming to invest in early-stage opportunities within the United States.

Jeff Cowan

Managing Partner

Past deals in Minnesota

Aria CV

Series B in 2020
Aria CV, Inc. is a medical device company based in St. Paul, Minnesota, specializing in treatments for pulmonary arterial hypertension (PAH). Founded in 2010 by Drs. John Scandurra and Karl Vollmers, the company has developed an innovative implantable cardiovascular device aimed at reducing the workload on the right side of the heart. This device holds the potential to enhance both the survival and quality of life for patients suffering from pulmonary hypertension. Aria CV has secured an exclusive license for certain patents from the University of Minnesota, reflecting its commitment to advancing medical technology in this critical area of healthcare.

StemoniX

Series B in 2019
StemoniX Inc. is a biotechnology company that specializes in stem cell technologies aimed at advancing drug discovery and personalized medicine. Founded in 2014 and headquartered in Minneapolis, Minnesota, with an additional office in La Jolla, California, StemoniX offers a proprietary platform that facilitates the creation and scaling of human tissue derived from stem cells. This platform supports the 3-D printing of living cells for various applications, including research into heart disease, dementia, breast cancer, autism, and ALS. By operationalizing human-induced pluripotent stem cell (iPSC) disease models at scale, StemoniX enhances the efficiency of neurotoxicity research and drug screening, enabling scientists to conduct more effective studies with improved outcomes.

StemoniX

Seed Round in 2016
StemoniX Inc. is a biotechnology company that specializes in stem cell technologies aimed at advancing drug discovery and personalized medicine. Founded in 2014 and headquartered in Minneapolis, Minnesota, with an additional office in La Jolla, California, StemoniX offers a proprietary platform that facilitates the creation and scaling of human tissue derived from stem cells. This platform supports the 3-D printing of living cells for various applications, including research into heart disease, dementia, breast cancer, autism, and ALS. By operationalizing human-induced pluripotent stem cell (iPSC) disease models at scale, StemoniX enhances the efficiency of neurotoxicity research and drug screening, enabling scientists to conduct more effective studies with improved outcomes.

Bite Squad

Series A in 2015
Founded in Minneapolis in 2012 by Kian Salehi and Arash Allaei, Bite Squad is a food delivery platform that partners with over 10,000 local restaurants across more than 400 cities nationwide. It employs over 5,000 drivers to deliver fresh food directly to customers' doors quickly and conveniently.

Gravie

Series B in 2015
Founded in 2013, Gravie operates a health insurance platform that enables individuals and businesses to compare and select insurance plans both on-exchange and off-exchange. It offers custom benefits planning, financial analysis, year-round support, and a mobile application for convenient access.

FlipGrid

Series A in 2015
Flipgrid, Inc. is a video-based discussion platform that facilitates the recording, sharing, and viewing of short video demonstrations. Founded in 2014 and based in Minneapolis, Minnesota, Flipgrid serves a diverse range of users, including K-12 schools, higher education institutions, businesses, government offices, and community groups. The platform is designed to promote active, social learning and is utilized in over 40,000 classrooms and organizations across 115 countries. Flipgrid also offers applications for iPad, Android, and iPhone, enabling users worldwide to engage in video discussions and enhance communication. In 2018, Flipgrid became a subsidiary of Microsoft Corporation, further expanding its reach and resources.

HomeSpotter

Seed Round in 2015
HomeSpotter, LLC is a Minneapolis-based company that specializes in developing web and mobile applications for the real estate sector. Founded in 2009, it offers platforms that provide real estate information and tools tailored for teams, brokers, and multiple listing services across the United States and Canada. Its mobile applications enhance the search experience for agents using iPhones, iPads, and Android devices, serving over 250,000 agents. HomeSpotter's platform integrates real-time data from MLS listings to facilitate targeted online advertising, allowing agents to create and monitor customized ads on social media. The company's solutions aim to streamline marketing efforts and enhance communication and collaboration among real estate professionals.

Celcuity

Series A in 2014
Celcuity is a clinical-stage biotechnology company that discovers new cancer sub-types and therapeutic options using its proprietary CELsignia diagnostic platform. This platform analyzes living tumor cells to identify specific abnormal cellular processes driving cancer, enabling the development of targeted therapies for patients.

HomeSpotter

Seed Round in 2013
HomeSpotter, LLC is a Minneapolis-based company that specializes in developing web and mobile applications for the real estate sector. Founded in 2009, it offers platforms that provide real estate information and tools tailored for teams, brokers, and multiple listing services across the United States and Canada. Its mobile applications enhance the search experience for agents using iPhones, iPads, and Android devices, serving over 250,000 agents. HomeSpotter's platform integrates real-time data from MLS listings to facilitate targeted online advertising, allowing agents to create and monitor customized ads on social media. The company's solutions aim to streamline marketing efforts and enhance communication and collaboration among real estate professionals.

Miromatrix Medical

Venture Round in 2012
Miromatrix Medical specializes in developing biological human organs and tissue repair products using its proprietary perfusion decellularization/recellularization technology. It offers MIROMESH for soft tissue repair, MIRODERM wound matrices, and is working on implantable organs like livers and kidneys. Its products serve customers worldwide.

Disc Dynamics

Series E in 2004
Disc Dynamics is a healthcare company. They design and develop medical products. The Company offers surgical alternatives for the treatment of lower back problems and disc diseases. It offers DASCOR Disc arthroplasty system, a catheter-based minimally invasive nucleus replacement technology for the treatment of degenerated lumbar discs. Disc Dynamics was founded by Jeffrey Felt in 2000 and is headquartered in Eden Prairie, Minnesota.
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