SignalPath Secures $18 Million Series B Funding to Advance Clinical Trial Management Platform

VCBeat (WeChat ID: vcbeat) has learned that on October 22, 2019, medical technology company SignalPath announced the completion of an $18 million Series B financing round. This round was led by existing investors, with specific details yet to be disclosed. Between 2016 and 2018, SignalPath secured three rounds of seed funding. To date, the company’s total fundraising amounts to $35 million.

SignalPath, founded in 2014 and headquartered in Raleigh, North Carolina, USA, significantly enhances the convenience and efficiency of clinical trial execution by developing breakthrough software, designing dedicated platforms, and deploying them at care sites. This enables clinical research teams to focus on patients’ diseases and successfully achieve their study objectives. The SignalPath platform is the first clinical trial management platform built specifically for researchers.

The company currently supports over 2,500 trials across 250 sites and 3,000 active users. This round of financing will be used to expand its leading network of community and academic health systems and to continuously broaden its product suite. Additionally, the funds will prepare the company for the upcoming launch of hybrid technology clinical trials.

SignalPath’s site toolkit is comprehensive, meeting the needs of all stakeholders in the site ecosystem, including coordinators, financial personnel, and regulatory and administrative staff. Research site personnel can leverage the SignalPath site platform’s network systems of varying scales and capabilities, along with powerful predictive tools, to gain real-time insights into trial progress, streamline patient management and study conduct workflows, and thereby optimize trial performance and outcomes.

Given its vast network of sites and users, along with the breadth of its product offerings, SignalPath now holds a significant unique advantage to reimagine clinical trials.

Dr. Brad Hirsch, Founder and CEO of SignalPath, stated, “By providing researchers with intuitive and powerful software tools, we have addressed the inefficiencies of clinical trials, reduced complexity, and improved study quality. Now, we have a robust network of interconnected large sites at our disposal, enabling us to gain new insights by conducting trials at sites that were previously inaccessible.”

Dr. Bob Harrington, Professor of Medicine at Stanford University, said, “As a founding member of SignalPath’s Board of Directors, I am delighted to see their innovative and intuitive research platform rapidly adopted. This trial will reduce costs and enhance the efficiency and transparency of the entire research ecosystem.”

(Compiled by Jiang Ying)