goBalto raises $12M for its clinical research platform

By Aditi Pai
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goBalto analyzeSoftware company goBalto has raised $12 million for its software-as-a-service clinical research platform, according to an SEC filing. This brings the company's total funding to at least $30 million to date.

Existing goBalto investors include Aberdare, West Health, EDBI, and Qualcomm Health.

GoBalto’s main product, Activate (formerly Tracker 2.0), offers clinicians a clinical research platform for “study startup”, which is the process of collecting, reviewing, and approving hundreds or thousands of clinical documents needed in a clinical trial. Tracker 2.0 also helps researchers track milestones during a trial, provide document workflow management, and create a to-do list of required activities. 

The company raised its last round of funding in March 2014.

A few months ago, goBalto launched a reporting tool, called Analyze, that provides study managers with a real-time view into clinical operations data. Analyze works with Activate to help study managers view status, quantify their team’s performance, and discover patterns in clinical study startup data. The offering also offers customizable reports, drag and drop visualizations, and interactive dashboards.

“Our customers were eager for a solution like Analyze,” Andrea Sim, goBalto VP Product said in a statement at the time. “They’re already embracing all of the advantages that come with using Activate. Now, we’re providing them with the ability to gain even further insight into their study startup status, cycle times, and bottlenecks. Analyze is where big data meets and exceeds our customer’s needs.”

In March, after the company announced its last round of funding, goBalto CEO Sujay Jadhav said the company had two different types of customers — the contract research organization (CRO) and the pharma organization. As of March, goBalto’s key customers were Inc Research and Icon for CRO and Novartis and Shire for pharma. Jadhav said these customers had run multiple studies through goBalto’s offering, and planned to scale the offering across a majority of their studies.