Comprehend Systems Closes $15 Million Series C Funding to Expand its Leadership Position in Clinical Intelligence Software
REDWOOD CITY, Calif., Feb. 6, 2017 /PRNewswire/ -- Comprehend Systems, Inc., the leader in Clinical Intelligence solutions, has closed a $15 million Series C round of venture financing. The round was led by Eminence Capital, with participation by existing investors Sequoia Capital and Lightspeed Venture Partners. The investment brings Comprehend's total funding since launching its innovative solutions to $44.5 million. Eminence Capital's Kristopher Koka will join Comprehend's Board of Directors.
The funds will be used to aggressively expand sales and engineering to meet a growing demand for Comprehend's cloud-based software that enables Clinical Research teams to deliver an order of magnitude improvement in the speed and quality of trial submissions across a portfolio of clinical trials.
"We continue to see growing demand from Sponsors to utilize automation and best practice clinical trial solutions to drive speed and quality in their clinical trials. This investment will drive continued innovation and sales execution to meet market demands," said Rick Morrison, CEO, Comprehend. "We are thrilled to be positioned to grow the customer base that already includes representation from the top 5 CROs, Top 10 Pharma and Top 5 Life Sciences companies."
Increasingly complex data aggregation, analysis and collaboration across studies, sites and CROs are causing Clinical teams to regularly miss deadlines and delay on-time submissions. Medical and operations decision processes are based on outdated data, take too long, and can no longer keep up. With Comprehend's Clinical Intelligence Suite of platform and applications, CMOs, VP of ClinOps, and Data Managers can continuously improve speed, safety and efficiency of a portfolio of clinical trials - across teams, sites and CROs.
"Our industry research and extremely positive feedback from conversations with life science executives, clinical solution providers, and industry insiders underpins our view of Comprehend's unique value proposition and drove our interest in leading this round. With growing demand for automated solutions in the Clinical Intelligence space we are confident this funding round will drive their leadership and market impact," said Kris Koka, of Eminence Capital.
About Eminence CapitalEminence Capital, LP began in 1999 and currently manages approximately $6.6bn on behalf of institutions and individuals. The firm focuses on global equity investing and employs both a long / short and a long only strategy. Eminence utilizes a fundamental bottom-up research driven investment process and invests in businesses with the expectation of being long term owners.
About Comprehend Systems, Inc.Comprehend offers a suite of Clinical Intelligence applications that enables ClinOps Execs, Data Managers and Medical Monitors to significantly improve the speed, safety and quality of a portfolio of clinical trials. Across studies, sites, systems and CROs, Comprehend's Clinical Intelligence Suite is particularly effective for centralized monitoring, risk monitoring, CRO oversight and collaboration, data review and medical monitoring initiatives. With powerful capabilities to intelligently unify, monitor, and analyze clinical data across CROs, studies and systems, Comprehend gives life sciences companies the ability to address the most difficult and complex FDA guidelines for quality, risk and oversight. Learn more at www.comprehend.com.
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SOURCE Comprehend Systems, Inc.