A message to potential viewflow investors

Thank you for your interest in viewflow. Viewflow is entering a growing market with the first & only non-contact option to assess blood flow live in vessels during major surgeries. The market is mostly cash and confirming that blood flow is good enough the first time reduces morbidity and mortality.

Where We Are Today

ViewFlow has raised $4.5M toward a $5M Series A round (and issued $6M in stock options), and we’re working to close the final $500K. The technology is built, FDA Class I Surgical Camera, and ready for hospital deployment.

What Happens After We Raise

Once we secure at least half of the remaining $500K:

• Months 1–3: Deploy systems in 2 hospitals
• Months 4–6: Collect clinical performance data and expand to additional hospitals
• Months 7–9: Publish results and sign first subscription contracts

This gives us real revenue and high-impact clinical proof—which unlocks our next, larger raise.

The Path to Returns

After demonstrating sales traction, we plan to raise a Series B ($10–20M) to scale nationally. Our target exit is within approximately 4 years.

Cashflow: variable costs are carried by contract mfg. and sales distributors. They are reimbursed when unit is delivered to hospital, which triggers sale of annual subscription agreement to K2 Capital.
Series B is primarily for a series of clinical studies across diverse surgeries and to capture and create reimbursement codes to dominate this primarily cash market… Why pay $750/case for Spy Elite, when viewflow becomes much cheaper after new reimbursement.

Our primary market comparable is Novadaq (NVDQ), which manufactured and sold (ICG) dye imaging products like SPY Elite—the same category ViewFlow is designed to replace. Our targeted exit window is similar to Novadaq’s actual revenue, 50% growth, (net income<$0), and valuation:

Stryker later acquired Novadaq for $701M, though at peak growth Novadaq traded as high as $980M (27× revenue). Based on comparable market trajectories, ViewFlow’s exit value at $20M–$35M in revenue—with similar growth rates—would range from $300M to $1B.

As a reference point: a $100K investment at our current valuation, accounting for ~20% dilution from future fundraising, and similar market response, would return approximately $375K to $1.2M—a 4x to 12x return.

Why This Market Is Ready

Novadaq was a first mover. They had to educate the market, experiment with use cases, and pivot as they discovered which surgeries benefited most—starting with cardiac bypass before finding real traction in flap reconstruction and gastrointestinal procedures.

ViewFlow is a fast follower but relevant to both tissue and bypass/vascular surgeries. We’ll focus on their thousands of surgeons who use ICG dye or ultrasound flow probes because they already pay subscriptions for blood flow information. We don’t need to create demand—we need to show these surgeons a safer, better tool:

• vs. ICG dye: viewflow is point-n-shoot instant imaging, no consumables, no patient risk, no injections, lower cost
• vs. Ultrasound probes: viewflow is no contact, instantly shows how blood flows in both native and bypass vessels, simultaneously.

Our market replacement model targets surgeons who already buy. That’s a faster, more predictable path to revenue than Novadaq’s market education journey.

In Short

The technology works. The sales team is lined up. We’re working to close our funding so we can enter operating rooms and begin generating revenue.

Questions? Reach out anytime: investors@viewflow.ai

— Jim