RALEIGH – SignalPath, a startup focusing on technology to be used by its clients in clinial trials, is gearing up for more growth after raising $18 million in new venture capital.
The company has now raised a total of $35 million. It’s been recognized as one of the most promising startups in the Triangle by serial investor and entrepreneur Scot Wingo, listed as one of his 2019 “tweeners.”
SignalPath
“Every drug candidate has to go through a complex clinical research process. Managing that is huge undertaking. SignalPath has software that helps manage the clinical research process,” Wingo wrote.
The company launched in 2014.
“Since the very beginning we believed that by providing intuitive software tools to research professionals that solved their key pain points and reduced complexity, we would drive efficiency, improve quality, and increase transparency across the research ecosystem,” says Dr. Brad Hirsch, co-founder and CEO at SignalPath, in the announcement made Tuesday.
“Now that we have a powerful network of large, interconnected sites on our technology, we can realize our ultimate vision of developing new insights through trials at our sites that were previously impossible to conduct.”
Existing investors participated in the round – a Series B – for the company.
SignalPath said the additional funds will be used for new products and technology as well as supporting and growing its customer base.
According to the company it offers clients technology to support “the needs of all stakeholders in the site ecosystem including coordinator, finance, regulatory and management teams.”
The company is supporting more than 2,500 clinical trials at some 250 sites and has 3,000 active users.
Durham startup SignalPath, which aims to improve clinical research, raises nearly $3M
