Series B
Also known as: Series B Round, Series B Financing, Growth Round
A venture capital round used to scale commercial operations following initial market validation.
Full Definition
Series B rounds in healthcare typically range from $20M to $80M+ and are used to scale a commercial team, expand to new geographies or indications, and invest in manufacturing or infrastructure. Series B investors require demonstrated commercial traction — typically $2M–$10M in ARR for SaMD companies or a defined number of installed accounts for device companies — and a clear path to profitability or strategic exit.
Example
A remote monitoring company raises a $35M Series B after reaching $4M ARR across 25 health system customers. The capital funds national sales expansion, reimbursement establishment with private payors, and international regulatory submissions.