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.
The company has now raised $114.1 million to date and will use 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 simplify operations for clinical researchers with a digital document workflow that includes regulatory compliance and remote connectivity. Its SiteLink platform, meanwhile, links sites, sponsors and contract research organizations. The company said SiteLink powers 4 million remote research activities every month.
Digitizing research operations can help clinical trials to happen closer to underrepresented patients who can’t travel to major academic medical centers, the company says. Florence Healthcare claims that its software now equips research sites within 25 miles of 80% of the U.S. population.