Mike Monovoukas
CEO and Co-founder
AcuityMD
Data Platform Built for MedTech
Mike Monovoukas has always been an entrepreneur at heart. As a young child growing up on the island of Cyprus, he picked lemons from a tree in his grandmother’s back yard and sold them to neighbors or made fresh lemonade to sell to passersby. In middle school, now in the U.S., he stashed Halloween candy for months just to sell to classmates when their treats were long gone. Even in his early 20s when he was working at Bain & Company, he spent his off hours trying to get a medical device startup off the ground. In doing so, Mike experienced first-hand the many challenges of bringing a new technology to market and discovered how medical device manufacturers were truly underserved.
While there were many data and software providers for pharma, the medical device industry lacked a system of record to track physician- and product-level relationships. So, Mike co-founded AcuityMD in 2019 and created the industry’s first data-driven commercial platform designed for the unique needs of MedTech companies. AcuityMD transforms large volumes of healthcare data, such as physician clinical practices, procedural volumes, devices used, shifts where surgeons operate, and peer networks, into intuitive workflows that prioritize sales efforts and align with the industry’s commercialization process. This solution has resulted in more than 25% sales growth for top active sales reps and over $4 billion in opportunity pipeline.
“We use AcuityMD to empower our sales team with insights that help them achieve their quotas,” says Mike Wijas, Vice President, EndoTherapy Sales at Olympus. “Instead of spending large amounts of time doing search engine research or gathering word-of-mouth intel from counterparts, the sales team can now access AcuityMD to identify opportunities more effectively and hit the ground running. We invest in their success, and it has paid dividends.”
It is also paying dividends for AcuityMD, which has experienced significant growth since its founding. In 2022, the startup increased its annual recurring revenue (ARR) by 317%, customer growth by 253%, and new hires by 246%. Mike identified a clear industry need, and now he is helping MedTech companies bring innovations to market that positively impact patients’ lives.
