Medable, a US-based developer of software for use in the management of clinical trials, has received $91m in a series C round that included contract research organisation PPD.
Sapphire Ventures led the round, which also featured fellow venture capital firms GSR Ventures and Streamlined Ventures. The company said its overall funding now stands at more than $136m.
Founded in 2015, Medable has built a software platform that helps researchers remotely conduct decentralised trials, managing processes such as volunteer recruitment and screening, the securing of consent, clinical analysis and telemedical treatment.
The platform has been used more widely during the covid-19 pandemic, and the company has collaborated with PPD on the creation and launch of its telemedicine app, TeleVisit.
Michelle Longmire, Medable’s co-founder and chief executive, said: “The pandemic has made the world aware of the importance of clinical drug development.
“We need transformative technologies that break down critical barriers to improve patient access, experience and outcomes. This new funding will enable Medable to continue our aggressive pursuit of new technologies that improve clinical trials to benefit all patients.”
GSR Ventures and existing backer PPD had already supplied $25m in funding for the company in May this year. It had previously closed $3.6m in funding in 2016 and $16.1m in April 2020, according to securities filings.
