Florence provides remote connectivity and electronic document workflow management for clinical trials, enabling sponsors, CROs, and sites to collaborate on a single network. The platform serves over 8,500 study sites across 34 countries and reported close to 3 million research actions in March 2021. Florence's tools are credited with 25% faster clinical trial startup times, 40% reduced document cycle times, and more than 3 million remote monitoring activities every month. The company experienced rapid growth over the prior 12 months as trials virtualized after COVID-19. Based in Atlanta, the business plans to use new capital to expand its ability to connect pharmaceutical companies and study sites and to accelerate decentralized trials and more efficient drug development. The company emphasizes reducing development costs and helping trials progress more quickly so investigators can focus on patients. Florence operates an eBinders platform that connects clinical trial sites with sponsors and CROs to enable secure study document and data exchange. The company reports a global network of 5,000+ clinical trial sites and says sponsor/CRO activity on its platform increased 229% between July 2018 and July 2019. Florence positions its product to reduce drug development costs, improve compliance oversight, and accelerate patient access to therapies. Leadership describes a mission to modernize slow, expensive clinical drug trials and to build digital connectivity between sites and sponsors. The company also sees potential to evolve into a SaaS-enabled marketplace as site network density grows. Florence plans to use new capital to broaden product offerings and expand sales, marketing, and customer success teams.

Total raised

$87M

Funding rounds

2

Latest round

Series C

Latest activity

May 2021