Florence Healthcare announced today that it completed a Series C-1 funding round with proceeds reaching $27 million.
Atlanta-based Florence Healthcare, a developer of clinical trial software designed to provide the digital link between clinical trial sites, sponsors and CROs, has now raised $114.1 million to date.
The company said in a news release that the funds raised will support its mission of doubling the output of clinical trials this decade by enabling remote access. Florence Healthcare has earmarked the money for expanding its staffing, enhancing its product offerings and accelerating the connectivity across its growing global network of 10,000-plus clinical trial sites and sponsors.
Florence Healthcare said it has seen rapid growth over the past year, with its eBinders platform now streamlining operations for study sites in 45 countries with digital document workflows that strengthen regulatory compliance, improve user adoption and provide seamless remote connectivity.
Additionally, the company’s SiteLink platform now powers 4 million remote research activities every month by linking sites, sponsors and CROs in a unified document workflow environment.
“In our network, we are seeing new types of research sites come online because of the efficiency technology delivers, from pharmacies and labs to community clinics and primary care providers,” Florence Healthcare Chief Clinical Trial Officer Catherine Gregor said in the release. “These new patient access points will allow faster enrollment and increased diversity among trial participants, and that means drugs and devices will have a safety profile more inclusive of the patients they will treat. Additionally, increased representation in study participants will help sponsors better meet the evolving guidelines for regulatory approval.”
Global software investor Insight Partners, which also led the initial Series C funding round, also led the Series C-1 round.
“With this funding, we’re strengthening our position as the research platform for the remote-work era,” CEO Ryan Jones said. “We’re celebrating two major milestones with this funding: 100 million research documents hosted on our platform and 100 million remote research activities conducted in our ecosystem.”