CLEVELAND, OHIO – Checkpoint Surgical, Inc., a privately held US-based medical device company with proprietary neurostimulation technology for nerve protection and repair, announced today the completion of a $16 million capital raise led by River Cities Capital, a Cincinnati-based healthcare-focused growth equity firm. Existing backers also participated in the round, including Cleveland-based venture funds Mutual Capital Partners and JumpStart NEXT Fund, First Analysis, a growth equity firm based in Chicago, and several other investors.

“Rivers Cities is delighted to partner with the Checkpoint team in this fast-evolving sector. Our market and clinical diligence confirmed Checkpoint’s leadership within the nerve care sector and our previous iterations with the management team gave us great confidence on their ability to execute on the opportunity. We are in the early innings of peripheral nerve management and Checkpoint will be a significant factor in the space going forward,” said Carter McNabb, Managing Director at River Cities Capital.

“We witnessed firsthand Checkpoint’s impressive growth and development of a leadership position in the peripheral nerve care space. We look forward to our continued partnership with Checkpoint and now welcome River Cities Capital to the team,” said Wayne Wallace, Managing Director of Mutual Capital Partners, who was instrumental in bringing River Cities to the table.

The growth capital will be used to support Checkpoint’s sales force expansion and multiple new product launches, including the recently acquired NeuroShield nerve wrap, as well as fueling continued research and development efforts. With a specialized, dedicated sales force of 30 and growing, and a substantial multi-disciplinary R&D team, Checkpoint Surgical is well equipped to scale the business rapidly.

“Nerve care specialists are doing amazing things in nerve protection and repair today, but they want to do even more to enhance the quality of life for their patients. We want that too and we believe we can help,” said Checkpoint’s President & CEO Len Cosentino. “This funding will fuel the advances in peripheral nerve care we are pursuing in collaboration with nerve care specialists through innovative research and product development.”

About River Cities Capital

River Cities is a growth equity firm investing in high-potential companies at the intersection of healthcare and technology. We seek to be a business partner first and a capital provider second, investing significant human capital to leverage our domain expertise, a network of healthcare thought leaders and deep relationships with health systems assembled over our 27-year history. With more than $750 million of capital raised and a consistent track record of success, the firm has established itself as a preferred source of growth capital. We are actively seeking new portfolio companies for our $200M Fund VI. For more information, please visit

About Mutual Capital Partners Funds

Mutual Capital Partners Funds invest in rapidly growing, post-revenue, technology businesses. MCPF’s investors are successful executives from across the U.S. and combine the best elements of an angel fund into committed capital, professionally-managed venture funds. For more information regarding Mutual Capital Partners, please visit

About First Analysis

First Analysis invests mainly in the United States with a focus on technology/software, healthcare, and environmental technology. We help established companies become profitable leaders in large markets, funding growth plans and working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development. Our flexible approach targets investing $3-10 million as lead investor or as a syndicate partner who brings valuable perspective. For more information please visit

About the JumpStart NEXT Fund

The JumpStart NEXT Fund is a $20M for-profit venture fund focused on early-stage technology startups located in Ohio. The fund is designed to make Series A investments, typically in the range of $500k and $1.5M, and seeks to invest in companies that demonstrate experienced leadership, sustainable competitive advantages, large addressable markets, capital efficient business models and significant exit potential. Learn more about the NEXT Fund, and JumpStart’s other investment vehicles at

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