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Ophthonix secures $25.9 million in Series AA funding

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VISTA, Calif. — Ophthonix has closed $25.9 million in Series AA financing, the company announced in a press release.

In addition to a noteworthy investment by a new private financier, each of the company's existing top investors, including Kleiner Perkins Caufield & Byers, Enterprise Partners, DAG Ventures, Gund Investment Corp., InterWest Partners, Trex Enterprises and Wasatch Advisors' Cross Creek Capital Fund, participated in the round of funding.

This capital will enable Ophthonix to broaden distribution of its Z-View aberrometer and iZon High Resolution Lens in the United States. In addition, the funding will be directed toward improving manufacturing margins and reducing operating expenses, the release said.

"We are very excited by our success in securing the support of a new private investor and the ongoing commitment of our world-class investment partners," Stephen Osbaldeston, chief executive officer for Ophthonix, said in the release. "The large investment by the new investor validates our business proposition and the company's valuation. First quarter 2009 sales growth in excess of 30% and our continued increase in prescribing optometrists underscores the significance of our technology."