Florence HealthcareLtd., which makes software connecting clinical trial sites, sponsors and contract research organizations, today announced that it has raised a $27 million Series C-1 led by Insight Partners. Insight Partners is known for its scaleup program that helps its portfolio companies grow faster.
Florence Healthcare, which has raised $114.1 million to date, uses its latest capital infusion to double the output of clinical trials by enabling remote access. It plans to develop, work on, and increase relationships between 10,000 clinical trial sites and sponsors on its products.
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 each month.
The company says that digitizing research functions could help clinical trials be closer to underrepresented patients who cannot travel to major academic medical centers. Florence Healthcare claims that Its software now equips research sites within 25 miles of 80% of the US population,