Florence Healthcare, which creates software that connects clinical trial sites, sponsors and contract research organizations, announced today that it has raised a $ 27 million Series C-1 led by Insight Partners. Insight Partners is known for its ScaleUp program, which helps its portfolio companies grow rapidly.
Florence Healthcare, which has now raised $ 114.1 million to date, is using its latest capital infusion to double the output of clinical trials by enabling remote access. It plans to hire, work on its products and increase connections between 10,000 clinical trial sites and sponsors.
The company has two main products. Its eBinders simplifies operations for clinical researchers with a digital document workflow that includes compliance and remote connection. Its SiteLink platform, meanwhile, connects websites, sponsors and contract research organizations. The company said SiteLink conducts 4 million remote research activities each month.
Digitization of research operations can help clinical trials get closer to under-represented patients who cannot travel to large academic medical centers, the company says. Florence Healthcare claims that its software now equips research sites within 25 miles of 80% of the US population.