Total amount raised
$203 Millions
Latest funding date
1/1/2023
Location
Paradigm has successfully raised funds through multiple rounds, with its latest being a Series A closed on January 25, 2023. The company is focused on revolutionizing clinical research by enhancing trial efficiency and accessibility for all patients.
Keep reading to explore the intricacies of Paradigm's fundraising journey and the investors backing this innovative platform.
What Is Paradigm?
Paradigm, founded in 2021 by Jonathan Hirsch and Kent Thoelke, is headquartered in New York, New York. The company is dedicated to transforming the clinical research landscape by creating a platform that ensures equitable access to clinical trials for all patients.
With a team of 101-250 employees, Paradigm leverages technology and data-driven insights to streamline the clinical trial process. This approach not only enhances trial efficiency but also lowers participation barriers for healthcare providers.
Paradigm's mission is to facilitate seamless communication and collaboration among patients, healthcare providers, pharmaceutical companies, and regulatory agencies, making clinical trials more inclusive and cost-effective.
How Much Funding Has Paradigm Raised?
- Series A
- Amount Raised: $203M
- Date: January 25, 2023
- Lead Investors: ARCH Venture Partners, General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Paradigm's platform and scale partnerships with healthcare systems and life sciences companies.
Total Amount Raised: $203M. Current Valuation: Not publicly disclosed.
Key Investors
- ARCH Venture Partners
- Details: ARCH Venture Partners is a venture capital firm that invests in the development of seed and early-stage advanced technology companies. They played a foundational role in Paradigm's establishment by co-incubating the company.
- Investment Focus Areas: Biotechnology, life sciences, physical sciences.
- Notable Investments: Illumina, Alnylam Pharmaceuticals, Juno Therapeutics.
- General Catalyst
- Details: General Catalyst is a venture capital firm that provides early-stage and growth equity investments. They co-incubated Paradigm alongside ARCH Venture Partners.
- Investment Focus Areas: Health care, technology, consumer services.
- Notable Investments: Airbnb, Stripe, Snap Inc.
- F-Prime Capital
- Details: F-Prime Capital is a global venture capital firm investing in healthcare and technology. They participated in Paradigm's Series A funding round.
- Investment Focus Areas: Healthcare, technology.
- Notable Investments: Not publicly disclosed.
- GV
- Details: GV, formerly Google Ventures, is the venture capital investment arm of Alphabet Inc. They focus on funding transformative companies across various sectors.
- Investment Focus Areas: Life sciences, healthcare, artificial intelligence.
- Notable Investments: Not publicly disclosed.
- LUX Capital
- Details: LUX Capital is a venture capital firm that invests in emerging science and technology ventures. They are known for backing companies that push the boundaries of innovation.
- Investment Focus Areas: Emerging science, technology.
- Notable Investments: Not publicly disclosed.
What's Next for Paradigm?
Paradigm's future is brimming with opportunities, particularly in expanding its platform and scaling partnerships with healthcare systems and life sciences companies. The recent acquisition of Deep Lens will enhance their capabilities in clinical trial patient recruitment, leveraging electronic medical records and genomics data.
With $203 million raised in Series A funding, Paradigm is well-positioned for future fundraising rounds. The substantial backing from high-profile investors indicates strong confidence in their mission. However, challenges such as integrating new technologies, maintaining operational quality, and navigating regulatory landscapes remain. As the healthcare technology sector evolves, Paradigm's ability to adapt will be crucial for sustained growth.
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