Adam Elsesser on funding strategy
From DTW - Think you know what Penumbra may look like in five years? CEO Elsesser’s vision might surprise · · DeviceTalks
“We never took formal venture capital — I told our investors they could call me as a friend anytime but not as an investor for at least 20 years because what we're doing might take 20 years.”
On , Adam Elsesser, Co-Founder, Chairman, President & Chief Executive Officer at PENUMBRA INC, spoke about funding strategy during DTW - Think you know what Penumbra may look like in five years? CEO Elsesser’s vision might surprise on DeviceTalks.
About Adam Elsesser
Adam Elsesser, co-founder, chairman, president, and CEO of Penumbra, has discussed the company's evolution from a traditional medical device maker focused on stroke treatment to a developer of virtual reality (VR) products for healthcare. In a 2024 podcast, he described Penumbra's early stroke business as having been built without patents, and noted that the company is now conducting a trial on a product called Thunderbolt, which he described as the first substantive patents that have mattered for the company. He also stated that the company is building a hardware and software platform for VR, with the goal of bringing third-party content on board, and that he believes immersive healthcare could become the largest part of Penumbra's business within five to six years. Elsesser has said that the company does not compete with social media or entertainment VR companies, and that its "real system" is focused on regulated healthcare work subject to FDA oversight. Elsesser has also commented on the company's approach to hiring and workplace culture. He stated that the company seeks fresh perspectives and hires people who have not been in the field to enable breakthroughs. He noted that in 2020, Penumbra sought stories from Black employees and implemented unconscious-bias training, which he described as being about bringing awareness to how behavior impacts others rather than being political. In earlier appearances, Elsesser discussed the company's 2016 IPO and its stroke treatment product, which he described as a "mini vacuum" that removes blood clots from the brain. He also gave career advice in a 2015 webinar, emphasizing the importance of interest in healthcare, a sense of responsibility, and a leadership mindset.