Medable offers a software-as-a-service platform that connects patients, trial sites and clinical trial teams to streamline trial design, recruitment, retention and data quality. Its technology is used in roughly 150 clinical trials across 5,000 clinical sites in 60 countries and has reached tens of thousands of patients. The company reports rapid growth, having grown 300% in the past year and over 800% in the last 18 months. Medable aims to cut trial costs roughly in half and double speed to market for new drugs. The new capital is intended to scale the technology globally and fund product development, its partner ecosystem, and customer and patient success. The firm is pursuing more localized trial execution, including work done at local pharmacies or clinics, to broaden access to experimental therapies. Medable offers a flexible, modular software platform that supports decentralized and digital clinical trials, including recruitment, remote screening, electronic consent, eCOA, eSource, telemedicine, and connected devices. Its platform has been used across therapeutic areas in more than 60 countries and in over 40 languages. In 2020 the company reported record growth—revenues grew by more than 400%—and customers achieved 3X faster enrollment and over 90% retention; Medable also launched five new products and onboarded more than 50 new clients that year. Medable will use the new funding to accelerate broad adoption of digital trials at global scale and to advance initiatives around ubiquitous research access, patient data fluidity, and intelligent monitoring of patients and trial data. The company has expanded its leadership team (hiring a CSO, CPO, CDO, and COO), grown its Patient Advisory Council and Patient Champion Network, and formed a partnership with Seqster to integrate real-world data streams. Medable is a privately held, venture-backed company headquartered in Palo Alto, California. Medable provides a flexible, modular software platform that enables clinical leaders to shift from clinic-centric to patient-centric research strategies, offering recruitment, remote screening, electronic consent, clinical outcomes assessment (eCOA), eSource, telemedicine, and connected-device integration. The platform delivers a unified experience for patients and clinicians to conduct complex protocols remotely and minimize in-person site visits. During the COVID-19 pandemic Medable facilitated continuation of existing research and accelerated development of vaccines and therapeutics by enabling remote care. The company reported revenue growth of more than 500% in 2020 and its platform has been used in registrational clinical trials across more than 60 countries and in over 40 languages. Recent product launches include TeleVisit, TeleConsent, and TeleCOA mobile applications, and Medable has announced partnerships with Datavant, MRN, and AliveCor to expand data integration and home-visit capabilities. Medable has also established a Patient Advisory Council and a multi-company research framework to accelerate COVID-19 diagnostics and treatments. The company says the new funding will be used to accelerate the life sciences industry’s shift to digital and decentralized trials and to pursue new technologies that improve patient access, experience, and outcomes. Medable operates a modular digital platform-as-a-service that connects clinical trial participants, sites, partners and analytics to enable more patient-centric and informed clinical research. The platform streamlines trial design, recruitment, retention and data quality and is used by leading biopharma sponsors and clinical research organizations. Medable's technology has been deployed in more than 30 countries and supports 26 languages. The company has formed partnerships with PPD, MRN and AliveCor and has introduced global telemedicine and in-home care capabilities to support COVID-19 research. Medable aims to reduce clinical trial timelines by 50 percent and plans to use recent funding to extend product development, partnerships and market adoption. The company has raised more than $45 million in total capital and is headquartered in Palo Alto, California.

Total raised

$498M

Funding rounds

4

Latest round

Series D

Latest activity

Oct 2021