Avadim Technologies Raises $917,490 in Financing

9/20/16

One of the fastest-growing private companies in America, North Carolina-based Avadim Technologies Inc., raised $917,490 in financing Tuesday, according to a Securities and Exchange Commission Form D.

The complete form can be found here.

The total offering amount represents the price of 215,880 shares at $4.25 per share.

Asheville-based Avadim Ranks as No. 234 on Inc. Magazine’s 2016 Inc. 500 list with three-year sales growth of 1,675 percent. Companies that have previously been named to the Inc. 500 include Microsoft, Under Armour, GoPro, Oracle, Timberland, Clif Bar, Patagonia, and Zappos. The 2016 list includes Dollar Shave Club, Square, ipsy, and Yeti Cooler.

Avadim Chairman and Chief Executive Officer Stephen Woody says the company seeks to address the gaps in global health, including infection, neuromuscular disorders and wound care.

The company has four product lines, including Theraworx, a medical skin product clinically proven to help control infections by restoring the skin’s natural defense properties. It is currently being used in West Africa to combat Ebola.

Having raised over $7 million in funding at a company valuation of $122 million with revenue growth of over 450 percent in 2014, Avadim Technologies sells its product line to hospitals across America, medical facilities run by the Department of Defense and Veteran’s Administration, and internationally.

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