Marc Beer is a legendary serial entrepreneur who has a proven track record of starting numerous successful startups. Beer latest venture in the world of startups is Renovia Inc a Boston based medical technology company that he serves at the helm as co-founder, CEO, and Chairman. The idea of starting Renovia was from Dr. Ray Iglesias a long time gynecologist with over 35 years worth of experience. Ray Iglesias had spent most of his career time performing pelvic floor surgeries to women and experienced firsthand the kind of pain women went through during the surgical procedure. He then decided to find an alternative method that could help women get treatment without going for surgery. Iglesias spent nearly a decade to come up with the method, and it is after discovering the method that he called Beer and sold him the idea. Together with Yolanda Lorie, the three in 2016 launched the company and Beer being an experienced serial entrepreneur was appointed to head the company and help in marketing as well as look for capital.
Renovia Inc in less than three years has become a leading provider of affordable alternative healthcare for pelvic floor disorders. Pelvic floor disorder is a condition that affects the pelvic muscles rendering it difficult to control bowel movement. The condition includes pelvic organ prolapsed, fecal incontinence, and the most common is urinary incontinence. The condition in the US alone has affected close to25 percent of women, thus needs to be taken seriously. The industry, according to Beer, is a multimillion-dollar industry with ambulatory physicians cost between 2005 and 2006 standing at 298 million dollars.
Renovia Inc under Marc Beer leadership has been able to secure both series A and Series B financing. The most recent Series B funding saw the firm receive capital injection worth 32 million dollars and an additional 10 million dollars venture funding. The funding would not have been a success was it not the involvement of three healthcare investment firms. The firms were the New York-based Perceptive Advisors, Longwood Fund who also participated in Series A funding and the Missouri based Ascension Ventures. Beer while making a statement concerning the Series B funding was excited and full of praise for the three companies and said that the partnership would go a long way in helping to diagnose better, treat and improve the lives of millions of women suffering from the condition. Learn more: https://www.crunchbase.com/person/marc-beer
Renovia in 2018 had its first line of products approved by the FDA and is focusing on eliminating the stigma associated with pelvic floor disorders. Many women, just because of the stigma, do not seek treatment for the condition, and this is one of the things Renovia is focused on reversing. Pelvic floor disorder has many causes, and the most common causes are uterine fibroids, endometriosis, chronic pelvic inflammation, and interstitial cystitis, among others.