Mequon-based Titan Spine LLC raised $16.7 million in a recent series B round, according to a new U.S. Securities and Exchange Commission filing.

The interior of Titan Spine’s manufacturing plant in Brown Deer.

The medical device developer announced earlier this month that the funding will “drive the next stage of growth of the company,” including product line additions, sales team expansion and accelerated research and development.

Titan Spine’s current investment partner, Texas private equity firm Southlake Equity Group, led the round, which was targeted at $20 million, according to the SEC filing.

The company makes titanium spinal interbody implants with a specially grooved surface to promote bone growth, for use in spinal fusion surgeries. Since launching in 2006, it has grown at a rate of more than 40 percent per year. A BizTimes Milwaukee cover story in May explored the company’s significant growth. Read the full story here.