Versa Vascular Secures $27.3M Oversubscribed Series C Funding and Appoints David Hovda as CEO to Advance Novel Tricuspid Valve Repair Technology

SANTA CRUZ, CA - September 18, 2025 - Versa Vascular, Inc., a pioneering medical device company dedicated to transforming tricuspid valve disease treatment announced the successful closure of an oversubscribed $27.3M Series C funding round. The round was led by an existing strategic investor and S3 Ventures with continued support from its existing investors, including Cadence Healthcare Ventures, View Ventures, BioStar Capital, and Santa Cruz Ventures.  Coming off a successful first-in-human experience in 2024, this funding will support the continued development of the Versa technology and the launch of an Early Feasibility Study in the coming year.

As Versa Vascular continues to grow and advance its development efforts, the company has appointed David Hovda as Chief Executive Officer to lead the company. Mr. Hovda brings over 25 years of executive leadership experience in the medical device industry, most recently serving as CEO of Innovein, Inc., where he oversaw the development of innovative vascular technology. He previously served as President and CEO of Simplify Medical, Inc., where he led the company through FDA approvals and its successful acquisition by NuVasive.

In the context of the Series C financing and recent CEO appointment, Brian R. Smith, S3 Ventures, stated: “Millions of patients worldwide suffer from tricuspid regurgitation with limited effective treatment options available. This funding milestone validates the transformative potential of Versa’s technology and fuels the next phase of development. We are excited David joined us to lead our mission to bring better, minimally invasive options to patients struggling with valve disease. His experience creating high-performing teams and building strong clinical evidence will be essential to Versa’s continued progress.”  Mr. Smith’s comments reflect Versa’s commitment to advancing clinically meaningful innovation and addressing the needs of a significantly underserved patient population.

Heart disease remains the leading cause of death worldwide, claiming a life in the United States every 33 seconds.  More than 7 million Americans are currently living with heart valve disease, a complex condition made up primarily of dysfunctional mitral and tricuspid valves. Traditional treatment options, most commonly open-heart surgery, are contraindicated or pose high procedural risk for a substantial portion of patients. Meanwhile, existing transcatheter approaches are constrained by stringent anatomical eligibility criteria, resulting in high exclusion rates. CEO David Hovda adds, “We are energized by the opportunity to make a meaningful difference in the lives of patients who have long faced limited options.”  Versa Vascular is developing a minimally invasive therapy to address this critical unmet need in the treatment of severe tricuspid regurgitation. The company’s novel tricuspid repair modality is designed to expand treatment access for patients and anatomies that have historically lacked viable options.

The Versa Solution

Versa’s proprietary tricuspid repair technology combines an effective, simple implant design with an intuitive, highly capable delivery system:

●      Advanced implant design that supports native leaflet function

●      Innovative and simple to use delivery system

●      Precise implant control with ability to reposition

●      Simplified interprocedural imaging with atrial device positioning

About Versa Vascular, Inc.

Versa Vascular is a medical technology company dedicated to transforming the treatment of tricuspid valve disease through innovative, minimally invasive solutions. The company's tricuspid repair technology is designed to provide effective treatment for patients with severe tricuspid regurgitation who currently have limited therapeutic options. Based in Santa Cruz, California, Versa Vascular combines engineering excellence with clinical insights to create meaningful advances in structural heart interventions. For more information, visit www.versavascular.com.

About S3 Ventures

Founded in 2005, S3 Ventures is one of the largest and longest-serving venture capital firms in Texas. Backed by a philanthropic family with a multi-billion-dollar foundation, they empower visionary founders with the patient capital and true resources required to grow extraordinary, high-impact companies in Business Technology, Digital Experiences, and Healthcare Technology. With $900M+ in assets under management, they lead Seed, Series A, and Series B investments ranging from $500K to $10M with the capacity to invest $20M+ over the lifetime of a company. To learn more, visit www.s3vc.com.

Media Contact:
info@versavascular.com