Medable Raises $304M Series D Funding at $2.1 Billion Valuation
Summary
Medable, a Palo Alto CA-based provider of a cloud platform for patient-centered clinical research, raised $304M in Series D funding at $2.1 Billion valuation. The round was co-led by new investors Blackstone Growth and Tiger Global and existing investor GSR Ventures, Sapphire Ventures and WTI. The company intends to use the funds to: • invest in remote patient technologies and tools that enable sites to lead decentralized research with technologies for patient care and research, • deepen investments in its SaaS technology platform and partner ecosystem. Led by Dr. Michelle Longmire, CEO, Medable provides a cloud based digital platform that streamlines design, recruitment, retention and data quality for decentralized trials, replacing siloed systems with integrated digital tools, data and interfaces to accelerate trial execution. The platform has now deployed its software-as-a-service (SaaS) platform via more than 150 decentralized and hybrid clinical trials in 60 countries, serving more than one million patients and research participants globally.