Causaly raises $17m in Series A funding led by Index Ventures to expand operations.
Index Ventures led the Series A round with participation from Marathon, Pentech and EBRD to support team growth and market expansion.
Causaly provides a machine learning platform that helps researchers map and navigate biomedical literature to accelerate scientific discovery. Its technology extracts meaning from millions of health documents to connect complex physiological mechanisms.
Causaly has secured $17m in a Series A funding round led by Index Ventures, with participation from Marathon, Pentech and EBRD. The London-based company intends to deploy the capital to scale its technology team, expand commercial operations into the US market and increase capacity for proprietary data analysis.
Founded in 2018, Causaly deploys machine learning algorithms to ingest millions of biomedical documents and assist researchers in identifying hidden connections. The platform is currently utilised by major pharmaceutical organisations including Gilead, UCB and Novartis to streamline drug research and development workflows.
The latest financing follows steady adoption of the company platform across the life sciences sector. Carlos Gonzalez-Cadenas of Index Ventures has joined the board as part of the transaction.
From the founder
"Finding a new drug can take over a decade in research, development and clinical trials, and requires thousands of experts working together with complex evidence,"
Yiannis Kiachopoulos
CEO at Causaly
Use of funds
- 01Grow the team
- 02Expand into international markets
- 03Invest in sales and marketing
