Healthtech startup Medable secures $78 million in additional funding to drive global adoption of decentralized clinical trials

We covered Medable late last year after the Silicon Valley-based health tech startup raised $91 million in Series C funding to revolutionize clinical trials and reduce clinical trial timelines by 50 percent. Medable is transforming clinical research and predictive medicine by creating a platform powered by patient-generated data,

Today, Medable announced it has raised another $78 Million in funding to fuel digital innovation for patient-centered drug development. The round, which brings Medable’s total capital raised to more than $136 million, was led by Sapphire Ventures, along with new investor Obvious Ventures and follow-on investment from existing investors GSR Ventures, PPD, and Streamlined Ventures.

Founded in 2015 by James Sas, Michelle Longmire, and Tim Smith, Medable provides a global decentralized trial platform that streamlines design, recruitment, retention, and data quality, replacing siloed systems with integrated digital tools, data, and interfaces to accelerate trial execution. Medable’s platform connects patients, sites, and clinical trial teams to improve patient access, experience, and outcomes. Its platform is now used by leading biopharma sponsors and clinical research organizations worldwide and has been used for trials in 30+ countries and 26 languages.

Medable said it will use the funding proceeds to continue enabling the broad adoption of digital trials and patient-centric strategies at a global scale. Key focus areas include internal initiatives related to ubiquitous research access, patient data fluidity, and intelligent monitoring of patients and clinical trial data, all designed to further Medable’s mission of enabling effective therapies to reach patients faster.

Medable experienced record growth in 2020 as the COVID-19 pandemic drove demand for remote clinical trial technologies. By minimizing the need for in-person site visits, Medable customers have achieved unprecedented results – including 3X faster enrollment and over 90 percent retention rates. Medable launched five new products and onboarded more than 50 new clients during the year, growing revenues by more than 400 percent – while expanding its ecosystem to accelerate digital and decentralized clinical trial adoption.

“The shift to patient-centered drug development necessitates entirely new strategies and technologies,” said Dr. Michelle Longmire, CEO and co-founder of Medable. “Medable is committed to delivering the leading solutions to drug developers for this incredibly important change in how clinical research is conducted. Our team is passionate about building a world with ubiquitous research access and radically accelerated drug development timelines.”