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About MD Angels
MD Angels, established in 2015, is an angel investment group based in Chicago, United States. It primarily focuses on Series A investments in companies in United States. Its portfolio includes 9 firms, spanning the HealthTech, Life Sciences sectors. Its most notable investments include companies like Packback, Regroup Therapy and Raydiant Oximetry. As of Jul 2026, MD Angels has witnessed 1 portfolio exit. Its latest investment was a $5.6M Series A round in Raydiant Oximetry on Oct 28, 2019, which also saw participation from VCapital and AngelMD.
To date, 10 investors have co-invested in MD Angels's portfolio companies, including prominent names like New Stack Ventures.
Key Metrics
Founded Year
2015
Location
Chicago, United States
Portfolio Companies
Sectors of Investment
Stages of Investment
Series A
Locations of Investment
MD Angels' List of Top Investments
MD Angels has a portfolio of 9 companies. Their most notable investments include Packback and Regroup Therapy.Their portfolio spans across and United States. They have invested in HealthTech, Life Sciences, Consumer and 6 other sectors, across stages such as Series A stage. Here is the list of top investments by MD Angels:1. Packback
Packback is an online textbook rental platform.Packback has served over 130K students nationwide and is backed by $3M+ in venture funding from notable investors including Mark Cuban, Howard Tullman, and Mark Tebbe. Packback also provides a price Comparison tool to compare prices from the textbook renters on the web. Packback also operates Packback questions, a social Q&A platform.
Key facts about Packback
- Founded Year: 2012
- Location: Chicago (United States)
- Stage: Series B
- Total Funding till date: $13.6M
- Employee Count: 108 as on May 31, 2026
- Investors: Dashfire, University Ventures and 16 Others
- Latest Funding Round: Series B, Mar 21, 2024, $*****
- Highlight: Editors' Pick
Provider of telemental health and telepsychiatry services. It provide access to mental health care for underserved communities by leveraging nationwide network of behavioral health clinicians and integrating them directly into the workflows of partner organizations, including primary care, outpatient behavioral health, tribal communities, and corrections settings.
Key facts about Regroup Therapy
- Founded Year: 2011
- Location: Chicago (United States)
- Stage: Series A
- Total Funding till date: $19.7M
- Employee Count: 13 as on May 31, 2026
- Investors: Sandalphon Capital, Frist Cressey Ventures and 14 Others
- Latest Funding Round: Series A, Nov 14, 2019, $*****
Developer of noninvasive sensor technology for fetal oxygen level monitoring. The company focuses on creating a fetal pulse oximeter for healthcare professionals. The aim is to provide a more accurate method to evaluate fetal oxygenation. The technology is intended to improve sensitivity and specificity when detecting fetal distress.
Key facts about Raydiant Oximetry
- Founded Year: 2015
- Location: San Ramon (United States)
- Stage: Series A
- Total Funding till date: $25.7M
- Employee Count: 26 as on May 31, 2026
- Investors: Tri-Valley Ventures, VCapital and 25 Others
- Latest Funding Round: Series A, May 28, 2024, $*****
- Highlight: Editors' Pick
4. Madorra
Provider of a therapeutic device for the treatment of vaginal atrophy and dryness. The company aims to enhance women's health, specifically giving postmenopausal women and breast cancer survivors non-hormonal treatment. The device is non-invasive and can be used at home, although the device is used based on a prescription from the doctor.
Key facts about Madorra
- Founded Year: 2014
- Location: Portland (United States)
- Stage: Series A
- Total Funding till date: $4M
- Employee Count: 17 as on May 31, 2026
- Investors: Golden Seeds, Portfolia and 22 Others
- Latest Funding Round: Grant (prize money), Sep 01, 2024, $*****
5. Vivorte
Developer of bone grafting and regenerative products for orthopedic treatment. The product TRABEXUS EB is an interconnected network of internal demineralized bone surfaces with heightened osteoconductivity to repair and improve the cancellous bone and FORTERA is a biocompatible, self-setting, resorbable, calcium phosphate cement intended for use to fill bony voids or defects of the skeletal system.
Key facts about Vivorte
- Founded Year: 2008
- Location: Louisville (United States)
- Stage: Series A
- Total Funding till date: $9.76M
- Employee Count: 5 as on May 31, 2026
- Investors: Connetic Ventures, Keyhorse Capital and 3 Others
- Latest Funding Round: Series A, Jul 21, 2022, $*****
- Highlight: Editors' Pick
MD Angels' Year-on-Year Investment Trends
MD Angels has invested in 9 companies over the last 10 years, with an average of 0 new investment annually in the last 10 years. Its most recent first time investment was in Raydiant Oximetry.MD Angels' Investments by Stage
MD Angels has made 2 investments in Series A stage with an average round size of $3.7M.MD Angels' Investments by Sector
MD Angels has a diverse portfolio, with companies operating in the HealthTech, Consumer, Healthcare, High Tech and Internet of Things - Industry Applications. Notably, it has invested in 8 Tech companies, 7 Enterprise (B2B) companies, 4 Consumer (B2C) companies and at least 4 companies focusing on Tech hardware.Sector | No. of Investments |
|---|---|
HealthTech | 2 |
Consumer | 1 |
Healthcare | 1 |
High Tech | 1 |
Internet of Things - Industry Applications | 1 |
Others | 3 |
Note: We have considered here, only first round of investments
MD Angels' Investments by Geography
MD Angels has made most investments in United States (2).MD Angels' recent investments
MD Angels has not made any investment in 2026 so far.Here are the most recent investments by MD Angels:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 28, 2019 | United States | Series A | 9826 | [+5] | |
Apr 21, 2016 | United States | Series A | 7099 | [+4] |
Acquired companies in MD Angels' Portfolio
1 company from MD Angels' portfolio has been acquired. The most recent acquisition was BrightWater Medical in Jun 2019 by Merit for $*****.Here are MD Angels' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 17, 2019 | - | - | 7430 |
Co-investors of MD Angels
Over the past 10 years, 28 investors have co-invested in MD Angels's portfolio companies. This includes funds and angels.
- Invested before MD Angels: HBS Alumni Angels Chicago, AngelMD and 1 other have invested in rounds before MD Angels. There is 1 company where HBS Alumni Angels Chicago has invested before MD Angels and 1 company where AngelMD has invested before MD Angels.
- Top Co-investors of MD Angels: 10 investors entered a company along with MD Angels. These include investors like New Stack Ventures (1 company).
- Invested after MD Angels: A total of 15 investors have invested in MD Angels's portfolio after their investments. Top Investors include OSF HealthCare (1 company) and HLM Venture Partners (1 company).
