TrialReach raises $13.5m in Series B funding led by Smedvig Capital to expand its clinical trial platform.
The Series B round features participation from Amadeus Capital Partners and Octopus Investments.
≈ £8.8M at $1 = £0.6510 on 16 Feb 2015
TrialReach provides a digital platform that aggregates global clinical trial data to connect patients and medical researchers. Founded in 2010, the company operates in London.
TrialReach has secured $13.5m in a Series B funding round led by Smedvig Capital, with participation from existing backers Amadeus Capital Partners and Octopus Investments. The company will direct the capital toward scaling its clinical trial platform and building out its presence in the United States.
The London-based business addresses inefficiencies in medical research by linking patients directly with clinical trials through an online matching system. Its technology is currently utilised by major pharmaceutical companies and health organisations worldwide to accelerate patient recruitment and reduce trial delays.
From the founder
"We have had significant success in the U.S. market to date, and we are confident that now it’s the right time to scale up our team and operations domestically, in order to solidify our leadership position,"
Pablo Graiver
CEO at TrialReach
Investor perspective
"TrialReach’s bold online marketplace approach offers a solution to one of the biggest problems in the pharmaceutical industry – matching patients with clinical trials"
Jordan Mayo
Managing Director, Smedvig
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
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About the company
TrialReach
TrialReach provides a digital platform that aggregates global clinical trial data to connect patients and medical researchers.