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Based in Austin, Texas, Alleviant Medical is a medical device developer that creates minimally invasive, no-implant transcatheter technologies for the treatment of chronic heart failure. The company's primary product, the Alleviant System, is designed to relieve elevated left atrial pressure by creating a therapeutic interatrial shunt and is currently undergoing the ALLAY-HF global pivotal clinical trial following formal FDA Investigational Device Exemption approval. Operating with approximately 38 employees, the pre-commercial enterprise has secured $179.87 million in total funding across nine rounds, including a $90.8 million Series C financing closed in December 2024. This ongoing clinical development and research is financially backed by a syndicate of prominent venture capital firms, including Vensana Capital, Longitude Capital, RiverVest Venture Partners, and S3 Ventures. Alleviant Medical was founded in 2017 by Jacob Kriegel, Avni Patel, and Alexander Kellar.
Alleviant Medical has raised $164.0M across 2 funding rounds.
Alleviant Medical has raised $164.0M in total across 2 funding rounds.
Alleviant Medical has raised $164.0M in total across 2 funding rounds.
Alleviant Medical's investors include Baird Capital, RiverVest, S3 Ventures.
Alleviant Medical has raised $164.0M across 2 funding rounds. Most recently, it raised $90.0M Series U in January 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2025 | $90M Series U | — | Baird Capital, Rivervest, S3 Ventures | Announced |
| Jan 1, 2023 | $74M Series U | — | Baird Capital, Rivervest, S3 Ventures | Announced |
Alleviant Medical is a privately held medical device company headquartered in Austin, Texas, developing minimally invasive, no-implant transcatheter technologies to treat heart failure, affecting over 26 million patients worldwide.[1][5][6] Its flagship Alleviant System creates an interatrial shunt to relieve excess heart pressure, targeting both heart failure with reduced ejection fraction (HFrEF) and preserved ejection fraction (HFpEF), serving symptomatic patients unresponsive to standard therapies like medications and implants.[1][2][6] The company solves unmet needs in congestive heart failure management by offering a novel procedure that avoids permanent implants, backed by $90M and $75M financings, FDA Breakthrough Device designations, and ongoing pivotal trials (ALLAY-HF and ALLAY-HFrEF) across the US, Canada, Europe, Australia, and New Zealand, demonstrating strong growth momentum toward FDA approval.[1][5][9]
Alleviant Medical emerged from a mission to address heart failure's massive unmet needs, co-founded by Jacob Kriegel, MD, who serves as Chief Medical Officer, alongside a multidisciplinary team of industry veterans.[5] The idea stemmed from prior sham-controlled trials showing clinical benefits of atrial shunts in high-risk patients, inspiring a no-implant innovation to broaden access across HF spectrums.[1] Key early traction includes FDA Breakthrough Designation for HFpEF, followed by IDE approval for the ALLAY-HFrEF pivotal trial, plus substantial funding rounds—$75M then $90M—to fuel global trials, with leadership like CFO Mary Byron and engineering experts driving execution.[1][5]
Alleviant rides the interventional cardiology wave for heart failure, a crisis exploding to 64M cases globally with 24% lifetime risk, outpacing treatments amid aging populations and comorbidities.[1][9] Timing aligns with FDA's push for breakthroughs in unmet HF needs—where lifestyle/drugs fail 50%+ of patients—enabling faster pivotal paths and market entry.[1][8] Favorable forces include transcatheter tech advances (e.g., TAVR success) and sham-trial precedents de-risking efficacy, positioning Alleviant to influence ecosystems by pioneering no-implant shunts, potentially slashing hospitalizations and inspiring implant-free cardio innovations.[1][6][7]
Alleviant Medical is primed for pivotal readout milestones in 2026-2027, with ALLAY trials potentially yielding FDA approval and commercialization of its no-implant shunt, unlocking a multi-billion HF market.[1][5][9] Trends like AI-guided procedures, expanded HF indications, and value-based care will amplify its edge, evolving it from trial-stage innovator to category leader reshaping interventional HF therapy. This positions Alleviant to deliver on its opening promise: transforming lives for millions via smarter, less invasive heart care.[1][5]
