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.

– Florence has been at the forefront of remote-enabled clinical research over the past year, adapting to industry challenges posed by COVID-19 and actively supporting Pfizer’s vaccine research, among others. This investment will power more efficient drug development lifecycles and speaks to the industry growth we’ve seen in the past year and the importance of connectivity in clinical trial research as we look to a post-COVID world.