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Atlanta-based Florence, maker of software that supports clinical research with remote connectivity and electronic document management, scored $80 million in Series C funding. Insight Partners led the round with participation from Fulcrum Equity Partners, Bee Partners and Flashpoint.
This brings the company s total funding pot to roughly $88 million. It closed its $7.1 million Series B round in 2019.
WHAT IT DOES
The company is focused on decentralized clinical trials. Its main function is helping to connect pharma companies with study sites. Stakeholders are able to tap into the platform to remotely connect to research and collaborate with colleagues on documents, data and workflow.
Florence Raises $80M to Expand Connectivity Platform for Clinical Trials
What You Should Know:
– Florence, a site connectivity platform in clinical trials, today announced the close of a $80 million Series C funding round led by Insight Partners, a global venture capital and private equity firm focused on investing in ScaleUp software companies. Existing investors Fulcrum Equity Partners, Bee Partners, and Flashpoint also joined this round.
– Based in Atlanta, GA, Florence is a global leader in remote connectivity and electronic document workflow management for clinical trials. To date, more than 8,500 research sites in 34 countries, sponsors and CROs collaborate on the network. Florence solutions foster 25% faster clinical trial startup time, 40% reduced document cycle times, and enable more than 3 million remote monitoring activities every month.