CRIO Secures Series A Funding to Accelerate Growth and Platform Development
BOSTON, March 11, 2021 / PRNewswire / – Clinical Research IO (CRIO), a Bostontechnology company providing sponsors and clinical research sites with a platform to streamline clinical trials, announced the completion of a $ 3.5 million Series A led by Rally Ventures.
The cycle allows CRIO to expand its product and engineering teams to develop the next wave of products. “Our goal has always been to streamline clinical research,” said Raymond Nomizu, co-founder and CEO of the company. “To do this, we need to strengthen our product and engineering teams. We have laid the groundwork for our unprecedented network of e-adopters sites, and now we want to leverage that to unlock efficiencies for sponsors and contract research organizations (CROs). “
In 2020, in the face of travel restrictions imposed by many research sites, the company more than doubled revenue, acquiring more than 600 research sites in 12 countries, as sites embraced electronic source and offerings. CRIO regulations. The company’s modules allow sites to capture data in real time, providing increased transparency and enabling remote monitoring by sponsors and CROs.
“CRIO has demonstrated its effectiveness in improving the operational efficiency of hundreds of clinical research sites with its eSource, CTMS and eRegulatory software offerings,” said Tom peterson, member of the board of directors of CRIO and Venture Partner at Rally Ventures. “We have been impressed with CRIO’s ability to work with its clients to reduce errors and improve the efficiency of the clinical research process. We are confident that they will extend these benefits upstream to sponsors and CROs. “
Raymond Chang, lead investor in the company’s seed cycle, also participated, alongside Boston Millennia Partners and Marc Lacy. Boston Millennia Partners is a deeply rooted strategic growth investor in clinical trials. Marc Lacy is the Founder and CEO of Benchmark Research, a leading network of vaccination sites and CRIO client.
“We were excited about CRIO’s unique vision to unify venues and sponsors around a common electronic platform,” said Ren roome, the director of the company. “We believe they have demonstrated a solid track record in creating practical, value-added products that meet user needs.”
ABOUT IO CLINICAL RESEARCH:
CRIO is a healthcare technology company that helps research sites, hospitals, biotech, and pharmacy streamline regulatory workflows with paperless filing cabinets and an electronic delegation journal. Since its launch in 2016, more than 600 research sites around the world have adopted the system. Find out more about www.clinicalresearch.io.
Contact: Daenya McDonald, CRIO
Telephone: (240) 781-8834
E-mail: [email protected]