Fundraising Fox

CoapTech

Baltimore, US · Founded 2016 · Delaware corporation · 20 employees on LinkedIn · 2 known investors

CoapTech makes the PUMA-G System, an FDA-cleared ultrasound-based device for bedside feeding tube (gastrostomy) placement, used in ICUs, step-down units, IR suites, and long-term acute care hospitals. The system aims to reduce hospital costs, procedure risks, and ICU/hospital length of stay compared to conventional PEG or PRG procedures.

BiotechHardwareHealthtechMedical Devices

Founders & leadership

CoapTech was founded in 2016 by Steven Tropello.

STSteven Tropello
Steven TropelloFounder
HC
Howard CarolanExecutive

Board

JOJohn Osborne
John OsborneinBoard directorManaging Partner at Good Growth Capital
PB
Peter BoydBoard director
WW
William WalkerBoard director
TC
Tim CollinsBoard director
DT
Daniel TeoBoard director
WN
William NilandBoard director
JK
Jeffrey KatzBoard director

Investors · 2

Good Growth CapitalCharleston
Hunniwell Lake Ventures LLCreportedPalo Alto

Reported raises · per SEC filings

Form D private placements

$18.9M disclosed across 4 rounds · 2020–2024

▶$7.1MraisedSep 2024 · 6 investors · Biotechnology
Rule 506(b)
Officers, directors & promoters on the filing
  • John OsborneDirector
  • Howard CarolanExecutive Officer, Director
  • Peter BoydDirector
  • William WalkerDirector
  • Steven TropelloExecutive Officer, Director
  • Tim CollinsDirector
  • Daniel TeoDirector
Offering amount
$13.5M
Amount sold
$7.1M
First sale
Aug 2024
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$4MraisedJul 2023 · 2 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Daniel TeoDirector
  • William NilandDirector
  • Timothy CollinsExecutive Officer, Director
  • William WalkerDirector
  • Steven TropelloExecutive Officer, Director
  • Jeffrey KatzDirector
  • Howard CarolanExecutive Officer, Director
Offering amount
$5M
Amount sold
$4M
First sale
Jun 2023
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$785KraisedApr 2023 · 1 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • William WalkerDirector
  • Daniel TeoDirector
  • William NilandDirector
  • Jeffrey KatzDirector
  • Howard CarolanExecutive Officer, Director
  • Timothy CollinsExecutive Officer, Director
  • Steven TropelloExecutive Officer, Director
Offering amount
$3M
Amount sold
$785K
First sale
Mar 2023
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$7MraisedSep 2020 · 33 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Jeffrey KatzDirector
  • William WalkerDirector
  • Daniel TeoDirector
  • Howard CarolanExecutive Officer, Director
  • William NilandDirector
  • Steven TropelloExecutive Officer, Director
Offering amount
$8M
Amount sold
$7M
Proceeds to insiders
$350K
First sale
Aug 2020
Incorporated
Corporation, Delaware, 2016
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Competitors · 1

by search overlap
Boston Scientific4 shared keywordsBoston Scientific supports external researcher-initiated studies through its Investigator Sponsored Research program, which funds independent investigations addressing disease understanding and treatment gaps of interest to the medical community.

Companies competing with CoapTech for the same Google search keywords, organic and paid, via search-intersection analysis.

Non-dilutive funding · 4 SBIR/STTR awards

Federal grants — no equity taken
AgencyPhaseYearAmount
National Institutes of Health (NIH)National Institutes of HealthPhase II2020$1.5M
National Institutes of Health (NIH)National Institutes of HealthPhase II2019$1.2M
National Institutes of Health (NIH)National Institutes of HealthPhase I2019$224.6K
National Institutes of Health (NIH)National Institutes of HealthPhase I2017$225K

Source: SBIR.gov award data (U.S. Small Business Administration). SBIR/STTR awards are competitive federal R&D grants and contracts — non-dilutive capital alongside any venture rounds above.

In the news

CoapTech Raises New Funding Round Led by Good Growth Capital - BioHealth Innovationbiohealthinnovation.org · Jun 2025Baltimore's Q3 Venture Monitor report is out. An expert thinks the ‘quarter over quarter comparisons are not very instructive’ - Technical.lytechnical.ly · Oct 2023Baltimore medical device firm CoapTech plans marketing, sales push with new funding - Baltimore Business Journalbizjournals.com · Sep 2020Baltimore medical device startup CoapTech raises $7M Series B - MPower Marylandmpower.maryland.edu · Sep 2020CoapTech Raises $7M in Series B Funding Led by Hunniwell - MedTech Innovatormedtechinnovator.org · Aug 2020Baltimore Business Journal Covers CoapTech Funding Round and Move Towards FDA Clearanceinfo.coaptech.com

Frequently asked questions

What does CoapTech do?
CoapTech makes the PUMA-G System, an FDA-cleared ultrasound-based device for bedside feeding tube (gastrostomy) placement, used in ICUs, step-down units, IR suites, and long-term acute care hospitals. The system aims to reduce hospital costs, procedure risks, and ICU/hospital length of stay compared to conventional PEG or PRG procedures.
Who founded CoapTech?
CoapTech was founded by Steven Tropello in 2016.
Who are CoapTech's investors?
CoapTech's investors include Good Growth Capital, Hunniwell Lake Ventures LLC.
How much funding has CoapTech raised?
CoapTech has disclosed $18.9M raised across 4 rounds.
Where is CoapTech headquartered?
CoapTech is headquartered in Baltimore, US.