Total amount raised
$506.6 Million
Latest funding date
10/1/2021
Location
Medable has successfully raised funds over 9 rounds, with the latest being a Series D round involving investors such as Blackstone Accelerates Growth and GSR Ventures. The company is focused on transforming clinical research and predictive medicine through a platform powered by patient-generated data.
Keep reading to explore the intricacies of Medable's fundraising journey and the investors backing this innovative platform.
What Is Medable?
Medable, based in Palo Alto, California, operates in the clinical trials, health care, medical device, messaging, and pharmaceutical industries. The company employs between 501-1000 people and is dedicated to transforming clinical research and predictive medicine through a platform powered by patient-generated data.
Medable's platform offers solutions such as electronic Clinical Outcome Assessment (eCOA), AI capabilities, and decentralized clinical trial (DCT) solutions. These tools aim to simplify and accelerate clinical trials, providing ultimate control and transparency for modern research needs.
How Much Funding Has Medable Raised?
- Seed Round
- Amount Raised: USD 3,638,069
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Medable's platform for clinical research.
- Series A
- Amount Raised: Not publicly disclosed
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the initial development and deployment of Medable's clinical trial solutions.
- Series B
- Amount Raised: USD 5,000,000
- Date: February 2017
- Lead Investors: HealthX Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and scale Medable's platform and expand its market reach.
- Series Unknown
- Amount Raised: USD 25,000,000
- Date: May 2020
- Lead Investors: GSR Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in the development and expansion of Medable's SaaS platform for clinical trials.
- Series C
- Amount Raised: USD 91,000,000
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the rapid growth and adoption of decentralized clinical trials.
- Series C Extension
- Amount Raised: USD 78,000,000
- Date: April 2021
- Lead Investors: Sapphire Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and technology.
- Series D
- Amount Raised: USD 304,000,000
- Date: October 2021
- Lead Investors: Blackstone Accelerates Growth, GSR Ventures, Tiger Global
- Valuation at Round: USD 2.1 billion
- Motivation Behind the Round: To scale technology globally, enhance product development, expand the partner ecosystem, and improve customer and patient success.
Total Amount Raised: USD 506,638,069. Current Valuation: USD 2.1 billion.
Key Investors
- Blackstone Accelerates Growth
- Details: Blackstone is the world’s largest alternative asset manager with $731 billion in assets under management. They focus on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets, and secondary funds.
- Investment Focus Areas: Private equity, real estate, life sciences, growth equity.
- Notable Investments: Bumble, Oatly, Epidemic Sound.
- GSR Ventures
- Details: Founded in 2004, GSR Ventures is an early-stage venture firm with over $3 billion under management. They focus on early-stage digital health companies leveraging emerging technology to transform healthcare.
- Investment Focus Areas: Digital health, healthcare, IT.
- Notable Investments: Didi Chuxing, Qunar, Ele.me.
- Sapphire Ventures
- Details: Sapphire Ventures invests in growth-stage technology companies, with a focus on enterprise software, fintech, and healthcare IT. They have a strong track record of helping companies scale and achieve market leadership.
- Investment Focus Areas: Enterprise software, fintech, healthcare IT.
- Notable Investments: Box, LinkedIn, Square.
- Tiger Global
- Details: Tiger Global is an investment firm focusing on private and public companies in the global Internet, software, consumer, and payments industries. They have a significant presence in both early and growth-stage investments.
- Investment Focus Areas: Internet, software, consumer, payments.
- Notable Investments: Facebook, LinkedIn, Spotify.
- HealthX Ventures
- Details: HealthX Ventures is a digital healthcare-focused venture capital firm. They invest in innovative companies that aim to improve healthcare delivery and patient outcomes.
- Investment Focus Areas: Digital health, healthcare technology, medical devices.
- Notable Investments: Not publicly disclosed.
What's Next for Medable?
Medable stands at the forefront of a transformative shift in clinical trials, driven by the burgeoning demand for decentralized and digital solutions. With a recent infusion of $304 million, the company is poised to expand its global operations, enhance its SaaS platform, and invest in remote patient technologies. This growth is underpinned by the increasing adoption of decentralized trials, which promise faster enrollment, higher retention rates, and significant cost reductions.
As Medable scales its technology and deepens its partner ecosystem, future fundraising opportunities appear promising. The company’s rapid growth and the industry's shift towards patient-centered research suggest that additional investment rounds are likely. However, Medable must navigate regulatory challenges, ensure the scalability of its platform, and stay ahead of competitors in the decentralized trial space.
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