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Miso Robotics “Wasted No Time” in Their Self-Hosted Raise
December 31, 2023
31,000+
New investors onboarded
$104M+
Capital raised
68%
Increase in average investment order
52%
Investor funds via digital payment
"DealMaker gave us a really great opportunity to market and advertise and engage with our community and potential investors. We received a white-label solution that just worked seamlessly for our needs."Ben Liebling Director, Wavemaker Labs
Company Background
Miso Robotics was one of the first companies to come out of Wavemaker Labs. Born from a bet between the Co-Founder of Miso Robotics and the Chief Executive Officer of Cali Group that a robot could not be built to flip a burger, Miso is on a mission to make restaurant operations safer, easier, and friendlier.
Ben Liebling joined Wavemaker Labs as a Director and has been able to see the company's fast growth first hand. Thanks to efficient capital raising executed in lockstep alongside technological innovation, the company has thrived and continues to grow rapidly.
The Challenge
"We had conducted previous fundraising rounds on other platforms in the past, and what we were looking for was to test this idea of white-labelling a crowdfunding solution. DealMaker gave us a really great opportunity to do that for Miso Robotics," Ben explains. "We knew that investors were eager and we needed a solution that was the right fit for our growth."
After some early success with equity crowdfunding, Miso Robotics was eager to take their offerings to a new level. They had already explored other capital raising solutions and were eager to increase their digital marketing investment. The underlying data to support this has traditionally been hard to come by. They decided the best thing to do was to move to a self-hosted solution powered by DealMaker.
DealMaker's Solution
Ben knew that Miso Robotics needed a strong solution to kick off their capital raising the right way. Without investments in the company, Miso Robotics would not have been able to develop new lines of products or continue to build and grow their business.
That's why it was important for the company to acquire investors in new ways. Jon Stidd, CMO, DealMaker, leads the digital marketing powering Miso's investor acquisition.
"Thanks to DealMaker, Miso Robotics was able to acquire investors in new ways. We channeled everything through digital marketing and data driven acquisition."
"DealMaker lets us see exactly how many leads we have, and we are able to target our investors directly. We knew what was working and what wasn't with our marketing efforts, that level of data granularity helped us market to the right people."
Impact & Results
DealMaker granted Miso Robotics the power to grow their investor list all on their own. Miso Robotics opted to increase their investment in digital marketing efforts thanks to DealMaker's advanced analytics, and as a result they saw an 68% increase of their ticket size offerings in comparison to the solutions they used prior to DealMaker.
DealMaker also had the added advantage of being extremely cost effective, thus allowing the company to focus on other more pertinent business challenges.
"Throughout our raise we were able to work with DealMaker in updating the subscription process to reflect dynamic changes to the offering. The team was also able to work with us and advise on what we should be doing with their internal experts," Ben explains. "This is really what has brought us back to working with DealMaker again and again, having that ability to make changes quickly with agility and having the team by our side advising during those times made it so that no time was ever wasted."
When VCs said no, Monogram turned to retail investors. That decision powered their rise from startup to publicly traded company—and even helped them raise an additional $13M privately after their Nasdaq debut.
The Challenge: Raising Capital on Their Terms
The Challenge: Raising on Their Terms
Monogram Technologies was founded with a bold vision: to revolutionize orthopedic surgery with a robotic joint replacement system using custom 3D-printed joints. The market for this technology is massive—approximately $19.6 billion, with over 1 million knee replacements per year. But it's a capital-intensive, regulation-heavy space—and traditional VCs weren't biting.
Instead of compromising, co-founders Dr. Doug Unis and Ben Sexson went all-in on a different path: retail capital. Why?
- Control and ownership: Not only were they able to raise the capital they needed to grow the business—they did it on their own terms.
- Long-term asset: They wanted to build an army of true believers who wanted to see the company succeed and would continue to reinvest over the years.
- A value-add network: Raising from retail allowed Monogram to amass a waiting list of thousands of patients eager to participate in future trials.
- Aligned incentives: Their mission to improve patient outcomes and build a better future for those struggling with joint pain resonated with retail investors.
The Power of Retail: Monogram's Capital Journey
| Start Date | End Date | Type | Platform | Amount Raised | # Investors |
|---|---|---|---|---|---|
| 3/13/19 | 3/31/20 | A+ | SeedInvest | $14,588,668 | 6,000 |
| 11/16/20 | 1/16/21 | A+ | StartEngine | $2,965,501 | 8,000 |
| 1/17/21 | 2/18/22 | A+ | StartEngine | $23,647,853 | 14,082 |
| 7/15/22 | 3/16/23 | CF | DealMaker | $4,673,000 | 2,249 |
| 3/1/23 | 4/8/23 | A+ | Republic | $232,275 | 120 |
| 3/1/23 | 5/23/23 | A+ | DealMaker | $15,958,364 | 5,198 |
| 5/18/23 | - | Nasdaq listing | |||
| 7/24 | 10/24 | Unit Offering | DealMaker | $12,990,103 | 2,745 |
Monogram Capital Raise Timeline
Monogram's first direct-to-investor raise was a $14.6M round in 2019. Since then, Monogram has raised retail capital six additional times, using Reg A+ as a springboard to a Nasdaq listing in 2023.
Each raise brought in new believers—and more importantly, kept bringing them back. That's the long-term power of retail capital. It's not just one campaign—it's a compounding asset that grows with the business.
$80M+
Raised across seven campaigns
~40,000
Investors championing Monogram's vision
20%
Of each raise came from previous investors
Marketing Excellence
DealMaker Reach provided strategic investor acquisition services, helping Monogram connect with the right audience through high-impact channels.
Premium Publications
Targeted campaigns in premium publications like Morning Brew captured qualified investors
High-Engagement Webinars
Engaging events that generated over $4.3 million in investments
Community Building
Strategic approaches that fostered a loyal shareholder base
Investment Momentum
Innovative approaches that amplified investment momentum
Monogram's Journey to Success
Monogram's journey has been defined by relentless innovation, strategic fundraising, and breakthrough advancements in robotic-assisted joint replacement. From early-stage research to a Nasdaq listing and beyond, Monogram's milestones reflect its evolution into a pioneering force in orthopedic surgery:
- Filed its first patent application in 2017
- Conducted clinical studies at UCLA and University of Nebraska
- Expanded the team with key hires
- Attracted a top-tier advisory board to guide clinical innovations
- Signed their first distribution partnerships
- Made headlines with cutting-edge live demonstrations
- Secured 501(k) FDA clearance for the mBôs surgical system
Nasdaq Debut & Beyond
In May 2023, Monogram Orthopaedics successfully listed on the Nasdaq—a significant milestone offering liquidity and growth opportunities for the company.
For most companies, that would be the end of their story in the private markets. But for Monogram, it was just the beginning of a new chapter.
Public perception says you can't raise privately post-IPO. Monogram proved that wrong.
Defying conventional fundraising norms, Monogram raised an additional $13 million from private investors, powered by DealMaker. This move highlighted the power of a dedicated investor community and provided additional strategic growth capital. Meanwhile, strategic digital marketing for the private offering helped boost the public share price—a win-win for the company and its investors, both public and private.
This was retail capital at its best: strategic, repeatable, and aligned.
One vision. Zero compromises.
This wasn't a one-time raise. It was a multi-year capital strategy.
Retail capital helped Monogram:
- Go from concept to commercialization without relying on VCs
- Retain ownership and control in a high-burn industry
- Build a base of loyal shareholders who invested not once, but over and over again
- Uplist to the Nasdaq, and still keep raising post-IPO
This is what makes retail capital different. It doesn't expire—it compounds. And DealMaker is built to maximize that long-term value.
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