Teckro, a Limerick, Ireland-based maker of clinical trial software, has raised $25 million in Series C funding, bringing the company’s total backing to $43 million. TechCrunch, Reuters and others report that the round was led by Northpond Ventures, with additional support from Section 32, Founders Fund, Sands Capital Ventures and Borealis Ventures.
What they do
Teckro’s digital offering collects and conveniently presents clinical trial data within a single mobile platform. The machine learning-powered app keeps study teams and active trial participants connected and, as a result, allows stakeholders to conduct their trials more quickly and accurately.
Founded in 2015, the company wrote on its website that it currently has more than 10,000 international users.
What it’s for
Reuters reports that the company will be using its new funds to continue development of its platform and international expansion.
Teckro isn’t alone in its quest to revamp the clinical trial. Medidata, for instance, has an ongoing high-profile partnership with Novartis focused on digitally enabling the drugmaker’s studies, while a slew of other startups including Clinical Trial Connect, ProofPilot, emocha Mobile Health and others are deploying technologies specifically aimed at improving trial design, patient matching, enrollment, adherence, dropout, data collection and other longstanding challenges.
On the record
“We challenge ourselves to find the best, most forward-looking way to deliver successful trials,” Teckro CEO and cofounder Gary Hughes said in a statement on the company’s website. “What happens before the data is recorded has a much bigger impact on your trial’s outcome than any number of post-hoc remedial actions or strategies. In an industry focused on retrospective activities, it just makes sense to look at things differently.”