Medable Raises $304 Million at $2.1 Billion Valuation for Health Care Industry

Medable is a company that specializes in clinical research offering a cloud option for digital decentralized clinical trials adoption. It is a SaaS for connecting patients, clinical trial sites, and teams aimed to streamline the design, recruitment, retention, and data quality of trials, to make them more accessible.

The funding round was led by Blackstone Growth, Tiger Global, and GSR Ventures. Along with them Sapphire Ventures and WTI also took part in the round. With the help of money raised, Medable will continue to scale technologies globally, invest in product development and partner ecosystem.

Medable was founded in San Francisco by James Sas, Michelle Longmire, Perry Robinson, Tim Smith in 2015. In the last 18 months, the company has grown 800%, which proves the reliability of the patient-centered approach. The Medable software has been used in more than 150 clinical trials that took place in 5000 sites in 60 countries. “We are looking to make game-changing progress in a fast way, and the faster we can build the infrastructure, the better,” Michelle Longmire says. “We want to make aspects of trials more local, done in the local pharmacy or clinic.”

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