Procept BioRobotics

Procept BioRobotics

PRCT
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Private Company

Total funding raised: $573M

Market Cap: $1.4BFounded: 2007HQ: Redwood City, United States

Overview

PROCEPT BioRobotics is a mission-driven medical device company dedicated to transforming BPH treatment globally through its innovative Aquablation therapy platform. Its core achievement is the FDA-cleared HYDROS Robotic System, which combines real-time imaging, robotic precision, and heat-free waterjet ablation to offer superior safety and efficacy, particularly for larger prostates, as demonstrated in landmark clinical trials. The company's strategy focuses on aggressive commercial expansion, leveraging a direct sales force to drive system placements and procedure adoption, thereby capturing a significant share of the large and underserved BPH surgical market.

UrologyMen's Health

Technology Platform

The HYDROS Robotic System integrates real-time multi-planar ultrasound imaging, AI-powered treatment planning software, and a robotic arm that delivers heat-free waterjet energy (Aquablation) for precise and tissue-selective ablation of the prostate.

Funding History

4
Total raised:$573M
IPO$350M
Series C$118M
Series B$75M
Series A$30M

Opportunities

The global BPH surgical device market is large and underpenetrated, with millions of patients avoiding traditional surgery due to fear of side effects.
PROCEPT's Aquablation therapy, with its superior safety profile and efficacy across all prostate sizes, is poised to capture market share from existing procedures and expand the total addressable market by appealing to this hesitant patient population.

Risk Factors

Key risks include commercial execution challenges in scaling a direct sales force and driving hospital adoption, potential pressure from payers on reimbursement rates, and the eventual competitive response from large incumbent medtech or robotics companies entering the space.

Competitive Landscape

PROCEPT competes with traditional TURP, laser therapies (HoLEP, PVP), and minimally invasive devices (UroLift, Rezūm). Its primary competitive advantages are its unique robotic waterjet technology, Level 1 clinical evidence demonstrating superior safety, and efficacy in large prostates—a segment poorly served by alternatives.

Company Timeline

2007Founded

Founded in Redwood City, United States

2018Series B

Series B: $75.0M

2020Series C

Series C: $118.0M

2021IPO

IPO — $350.0M