Led · Series B · Jan 2022

CRIO offers an enterprise-grade eClinical platform that centralizes site data capture and research workflows with fully integrated eSource, site CTMS, eConsent, EDC, remote monitoring, and source data verification. The platform targets research sites, sponsors, and CROs and has attracted a rapidly growing base of hundreds of customers. CRIO’s integrated direct data capture solution aims to reduce costs, speed trial conduct, and improve data quality by eliminating transcription and automating site financial and compliance functions. The company emphasizes a patient-centric, intuitive user experience and reduced site burden as core design principles. The recent investment is intended to fund expanded product development, broaden the product suite, international expansion, and enhanced customer support. CRIO positions itself as a challenger to incumbent clinical trial data-capture and site workflow methods. CRIO focuses on streamlining regulatory workflows with a single source of clinical data capture for sponsors, sites and patients. Its modules allow sites to capture data electronically in real time, giving data managers and monitors enhanced transparency. The platform enables remote monitoring by sponsors and CROs. CRIO plans to use new funding to expand its product, engineering, and business development teams to develop and market products. The company is positioning its tech to simplify trial operations and improve visibility across stakeholders. Financially, CRIO has just closed a new financing round to support that growth. Clinical Research IO (CRIO) is a Boston-based health tech company that provides a clinical-trial workflow platform for research sites, hospitals, biotech and pharma. Its platform offers paperless binders and an electronic delegation log, with modules that enable sites to capture data in real time. That real-time capture provides enhanced transparency and enables remote monitoring by sponsors and CROs. Led by co-founder and CEO Raymond Nomizu, the company launched in 2016 and has since been adopted by over 600 research sites globally. In 2020 CRIO more than doubled its revenue and acquired over 600 research sites across 12 countries. It plans to use the new funding to expand product and engineering teams to develop the next wave of products. CRIO builds an e-source platform — a website and Android app — that enables researchers to conduct clinical research site visits remotely via tablet or desktop, configure e-source templates, capture data, manage and schedule subjects, and communicate with study monitors. The product is designed to replace pen-and-paper workflows and reduce manual data entry and verification, improving the quality and speed of source data capture. CRIO targets pharmaceutical companies and clinical research sites and has partnered with Medidata through the eConnect partner program. The company raised $1.6 million to support pilot studies with pharmaceutical companies and to expand operations. Proceeds will be used to support pilot studies and grow headcount from five to 11 across customer service, sales, and software support. Earlier this year CRIO also raised an $800,000 seed round led by the same venture firms.

Participated · Equity · Sep 2015

ApprenNet offers an apprenticeship-style web and mobile platform that enables practice-based learning for both soft skills and hands-on technical training. Employers and educators use the platform to enhance critical thinking, communication and hands-on skills across their organizations. The company’s patent-pending technology supports individual practice, peer review, expert coaching and performance analytics and was developed through research funded by the National Science Foundation. ApprenNet is led by CEO Paul Freedman and is based in Philadelphia, PA. The company announced a merger with Handsfree Learning in July 2015. Financially, ApprenNet closed a $1.8 million first round of financing.